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Using credit? Use self-control

February 22, 2009

Re: David Lazarus' consumer column "Loophole lets rates rise on credit cards," Feb. 18:

The column makes credit card companies look like the big bad wolf, but consumers must take a lot of the blame themselves.

Credit card companies exist for only one purpose -- to make money. Credit cards are an option, not mandatory, and when used judiciously (i.e., paying off one's balance in full every month), can be a great convenience and cost nothing besides.

If people asked themselves, "Would I be buying this if I could only pay cash or pay in full when the bill arrives?" most credit card companies would go belly up. This would take a lot of self-control on the part of consumers, but it would help defuse sky-high interest rates and late fees.

June Moffett

Santa Ana


Yep, I also received the ol' change in the plan from Capital One, and I also have been an exceptional customer just like the woman you mentioned in your article. They just keep on increasing the percentages.

You'd think that since the credit card companies along with other large conglomerates have received bailout funds from us, the taxpayers, they'd be just a little bit more lenient in taking advantage of the hands that feed them.

Why bail them out if business as usual will continue?

Kayvan Gabbay


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