Despite credit card reforms – what has changed? Only those companies are becoming more deceitful in attempts to make a profit at consumer expense. Do they think we’re that stupid? Apparently so and apparently we are, because we still keeping buying into the American dream corporate America is selling us.

 My favorite and most endearing target is Capital One most because I personally am stupid enough to carry two Capital One credit cards. But the joke is on Capital One – I don’t use them. For not using my credit card, Capital One feels obliged to charge me $5.00 a month (service fee). So why don’t I cancel my card. Well because in the silly made by corporation world, it is better for me to pay Capital One $5.00 a month for nothing, then to cancel the card. Not holding a balance looks good on my credit report.

 So in attempts to win back my favor, Capital One offered me a free transfer with a 5.99% interest rate for 6 months and then after six months, but interest rates “simply” rolls back out to 22.98% interest. I love it – Capital One will simply continue to screw me. So, here it is – I have six months to pay off another debt to Capital One or else they are sticking me back with a loan-shark interest rate. Sorry Capital One, no deal.

 I understand, in economic hardship rich corporations are suffering and cannot offer huge bonuses to its CEO’s. But when you think, that some of those bonuses could buy food for a struggling American family for years – it hardly seems fair and I hardly care about the woes of corporate America.

It’s been a while blogging about creditors and credit bureaus. I have other things to write and I have since moved on. However today, as I work up in a  Zen-like state, early morning writing and a trip to the gym, I came home to find an annoying letter in my mail box.  Apparently, my auto insurance company found a way to raise my premium through some suspect credit reporting search. I was infuriated and now the fight continues.

The impossibility for the average person is to know where to begin in this fight. Do I target my auto-insurance company, or the credit reporting company?  After reviewing  my credit report, I will target Capital One.

Capital One, like most credit companies jump at the chance to report your credit payment mishaps. They joyfully do this so they can charge more interest and make more money of struggling people. The one thing I noticed Capital One DID NOT report was my account was paid in full for over a year. They still showed my account as “adverse” because I carried a high limit. I purposely paid off Capital One to demonstrate on my credit report a low balance that I PAY OFF monthly.  Oddly, Capital One had not reported this for over a year.

Let’s face, creditors report what benefits their business, not the consumer. There’s no surprise here. What surprises me is that so many American consumers still tolerate creditor practices and not demand fairness and equality. Many play along in this game way to eagerly grasping at any financial handouts a creditor might lend. We are way too needy, and creditors are still way too greedy.

 Until we all rise up and demand better legislation that protects us from creditor’s “over sights,” we will still be charged unfair high premiums from insurance companies and other reporting agencies. I for one, do not want to be a patsy in their games; do you?

There is so much debate today over the disparity of wealth. Roughly 1% of the population holds 20% of nation's wealth and 20% of the top wealthy own 80% of nation’s wealth, leaving only 20 percent of the wealth for the rest of the 80% of the population. Confused? That’s their plan.

But an interesting report emerged saying that using credit cards actually supports the wealthy. No, banks aren't just giving money to the rich...That would be wealthy welfare. No this is happening at retailers where you shop every day.

http://www.financialpost.com/Credit+card+fees+transfer+wealth+rich/3324220/story.html

Retailers must pay credit card fees to the bank. Instead of taking the loss, retailers jack up prices to incur credit card fees. So as per the article, if you pay with cash you are helping to pay credit card fees. So even if you want to avoid credit cards you are paying for other people to use them. 

How does this benefit the rich? Well the statistics show the wealthy spend more on credit cards and more often. They use their cards to receive rewards and that's right - cash back (what you work so hard to earn)

So next time you're shopping toss in a few coins for the rich and not needy to support wealthy welfare. They of course are nothing without us measly peasants.

On this 4th of July, I began to contemplate the true definiation of freedom and how it applies to me today as an American.

It is a popular sentiment today to believe in free enterprise. Why the heck wouldn’t it be free, it has free description. It is “free” enterprise.  Many find it a great idea to have everything in our life be privatized. One for instance is health insurance. This is how awesome free enterprise and privatization works for the average citizen in regards to health insurance.

My doctor scheduled some pre-emptive tests for me. Today, I received a notice from the hospital that my insurance company has yet to pay for the service. If I were to not pay the hospital, they would call a debt collector and keep nagging me until I pay. To a big corporation like Blue Cross and Blue Shield this is just good business practices. Bi-weekly money is taken out of my paycheck for health insurance, yet they decided when and if they are going to pay my insurance. Somehow I do not see that as a fair exchange, but that’s the beauty of “free” enterprise.

But it doesn’t stop there, banks play high stakes gambling games with our 401K, corporations have off shore accounts so not to pay taxes, they make inferior automobiles that kill people, they have taken short cuts in food safety that is making the public sick and they have destroyed our Gulf coast. All this is done so in the name of “free” enterprise and privatization. They are self-regulated and above most laws.

I make these complaints to everyone – family and friends. And their answers are always the same, “It is the way it is. Deal with it.” Have we succumbed to the powers of the corporations? Are we going to roll over and allow them to play with our finances and health? Is this something we should really deal with?

So we may all say “free” enterprise is great, but at what cost to us – our health, our financial security, our environment. That to me is not freedom. Although I may live in a free country, I am far from free. It is the corporations gambling with my livelihood that is taking away my freedom.

Yesterday a judge in Texas rejected the moratorium on oil drilling. We found out this judge had stock in Trans Ocean and other oil companies - a complete conflict of interest. Hm, really judge?

Meanwhile oil barons of the world gathered in their lair on some mysterious island only able accessible by luxury private jet to condemn the moratorium. Meeting Agenda: How to convince the world it simply cannot survive without their energy? I have two words: public transportation.

I can hear the collective screams and fist pounding of oil executives at the sound of public transportation and renewable energy. How will these men make billions at the expense of the global population and the environment of the earth?

It has been this way for generations, if not a century. Oil men have controlled politics and society. Our dependence on oil is not a human addiction like a drug; it is so the oil companies can control our politicians and thus the country. They are denying us the opportunity to be energy independent for their own profit – greed.

It is not much different than credit card companies that make the rules and make it necessary to have credit. Oil companies make it difficult for us not use their product. In some cities (Los Angeles) where I once heard plans of a complete public transportation system was scraped in the Seventies because oil and auto companies wanted to increase their profit. So there you go LA you can thank oil execs for your smog.

Times are changing and will be changing dramatically for all those who made money in the oil industry. The days of power and riches are over. For some this is a very hard pill to swallow. But change brings new opportunities. There are jobs and opportunity in renewable energy. There can be jobs in public transportation, solar and wind.

Yes the world and humanity will not only survive it will thrive without big oil. And it will happen if we have to revolt (boycott) oil companies. The people need to take the world back. It has already begun.