Why Do Credit Cards Do This?

[vsjhoc]

Re: Why Do Credit Cards Do This?

Me too. I mean, why do they make the words so small? And so.. pictureless? There's no legal documents out there that can't be tamed with a generous helping of coloful pictures....

What?

Maybe they could link to a YouTube.

[PRICEPLUS]

Re: Why Do Credit Cards Do This?

It is not to the advantage of the CC companies to make things easily understood.

[disneysteve]

Re: Why Do Credit Cards Do This?

You know, CC companies aren't the only folks who do this. How many of you have actually read the prospectuses for the mutual funds in which you invest? How about reading your entire insurance policies?

I'm betting most of you haven't. Neither have I.

My point is just that we shouldn't condemn the CC companies. They really aren't doing anything that isn't standard operating procedure for a wide variety of businesses.

[PrincessPerky]

Re: Why Do Credit Cards Do This?

Errr, is anyone under the impression that if it was clearly written in plain english 'you will pay thru the nose for that new trinket if you use a Credit card' that people would stop using them?

I am reminded of that rude comedian who said you could put a giant skull and cross bones on a pack of smokes and he would still light up..he knew they were bad for him and didn't care, most people know they will pay in the long run using credit and don't care/don't think they can stop.....

maybe they should have 'CC anonomous'......

[tinapbeana]

Re: Why Do Credit Cards Do This?

maybe they should have 'CC anonomous'......

university of indiana actually has a whole area dedicated to shopoholism, including a link to debtor's anonymous

[Broken Arrow]

Re: Why Do Credit Cards Do This?

You know, CC companies aren't the only folks who do this. How many of you have actually read the prospectuses for the mutual funds in which you invest? How about reading your entire insurance policies?

I try to read them all.

"Try" being the operative word.

[tinapbeana]

Re: Why Do Credit Cards Do This?

I try to read them all.

"Try" being the operative word.

same here... especially the 'updates' that get sent w/ the bills for CCs and insurance: state farm has just sent a flurry about chaning their verbiage regarding mold, spores, and trailer coverage. so much for my moldy trailer...

[tener]

Re: Why Do Credit Cards Do This?

its 1 and 2, mostly 2, to put it simply, the less you pay attention the more profits they make, here in england the royal bank of scotland released a statement saying that 60% of their profits came from fines, think about it....

[creditcardfree]

Re: Why Do Credit Cards Do This?

You know, CC companies aren't the only folks who do this. How many of you have actually read the prospectuses for the mutual funds in which you invest? How about reading your entire insurance policies?

I just have to say that I have actually read a mutual fund prospectus. I did work in customer service at a mutual fund company. They had us take a class on how to read it. It is really amazing how much useful information is in there that can help you understand what you are investing in and compare it to another mutual fund.

Oh, and I've read many more since then. I haven't been so great on the insurance policies...those are more difficult for some reason!!