Is Credit Too Easy?

Economy

I gotta get our phone number listed on the DO NOT CALL LIST.

Got a phone call from the MNBA bank out of Ottawa today, telling me they are sending me a Mastercard, at the interest rate of 9.6% Interest. Now that sounds nice, except of course the Bank of Canada rate to banks is about 3%. Okay they gotta make a profit, but what irks me is that they expect people to answer personal questions over the phone.

Obviously people do that, and given how there is so much identity theft going on, it amazes me how people are so willing to trust what some voice on the telephone asks, and says. I didn’t answer the questions, and in fact kind of got rude about it, because frankly I don’t like the idea of some ‘private bank’ wanting to send me a credit card, I never asked for.

I sure as hell won’t give them my employment history, my annual income, or SIN number over the phone, and yet many do, because they all want that added credit card. I use my Debit Card, because if I can’t afford it, I don’t need it. Sure they are nice to have for emergencies, but frankly I don’t want to be owing a ton of money, it just is too depressing when the bills come in, and it’s hard enough with the monthly bills for insurance, for hydro, cable, and telephone.

Personally I think we hear the ‘low interest rate’ and all the ‘benefits’ of having another credit card are, and we jump, instead of sitting back and realizing that we still have to pay for this stuff and with Harper and his lack of economic planning, we are going to be facing higher costs for everything, such as food, fuel, and well, just living. Health Insurance will go up, if he gets re-elected, or the services will be reduced so there will be ADD ON CHARGES. There is NO ENERGY PLAN so you can bet, once October 14th is past, the price of gas at the pump will once more go upwards. It is only down now, because of elections here and in the States.

Do I want more credit, no. I want to live and be happy, and enjoy the money I earn, not give it to Banks, and to outrageous CEO SALARIES.

Ian @ October 4, 2008