Selling Credit Cards

Accountability, Responsibility and Disclosure, Credit Cards

I think you will agree that buying and selling credit cards are very profitable businesses, these days. Why? Credit cards come unsolicited with practices that get borrowers deeper into debt with nasty penalties and unlimited interest rates, larger banks being the biggest offenders. The credit card situation has gotten so out of control, President Obama enacted credit card reforms laws, which took effect today, 22 February 2010, the Credit Card Accountability Responsibility and Disclosure Act (CARD Act) takes effect.

    How they promote and sell Credit Cards?

    Credit cards are massed produced and mailed to a specific targeted group of consumers, which includes everybody. Your name is already there and all you need to do is activate the card.

    "This is an advertisement"

    Make your mark with this credit card. Ink it! Chase it! Exclusively for business owners.

  • Credit limits that meet your business needs.
  • Your choice of rewards — choose from cash back, travel, merchandise, gift cards and more.
  • Online tools help you manage spending, including employee spending.
  • Accepted at twice as many places worldwide as any other credit card.

    Help me find a card. Rewards. Compare all cards.

To me, all this translates to, "your cash is no good to you and you do not know how to handle it, but if you have money, we will give you credit and our card, in exchange for it"?

When you don’t have extra cash each month, you turn to credit cards for help. Why not, everybody is doing it. You see it and you believe it! Well, if you can afford it, why do you need a credit card or the additional credit? Why go through all the hassle, giving away all your personal information, when you have got the cash on hand? Convenience to and for whom? Aren’t we being just a bit negligent? Why do people fall head over hill for these kind of tricks? Why do they make it nearly impossible for you to pay in cash?

During the most recent recession, wasn’t it proven that credit cards are more trouble than they are good? What happens when you are late with a payment or loose your source of income? Why do we continue to promote credit cards and incidents where credit cards have saved our financial day? In a crunch, whip it out? Pay later! Whose financial day are we really saving? You will pay later! Didn't we just learn that lesson? How can we be a debt free economy? Why do we concern ourselves with the national budget, when local budgets are based on credit limits?

I can hardly sell, what I think to be an excellent source of additional income, when credit card sells are skyrocketing?

What we are not seeing is people living from pay check to pay check, month to month, in an unstable job and economic market being hounded by creditors and collection agencies. We are not showing the increased risk of balloon payments, identity and card theft? What happens when you can not make a payment? How do poor people get credit? Assets? I can see how it flows up, but how does money flow down?

If you do not know ALL THE TRICKS or what happens when you miss a payment, I strongly recommend ASKING. Exceptions, Caveats, Loopholes? Finance Charges, Interest-Rate Hikes and Notifications? Billing Statements, Payments and Disclosures? FREEBIES? Credit Card Accountability Responsibility and Disclosure Act

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