Friday, April 27, 2018

I AM DONE PAYING USURIOUS INTEREST RATES!

Been on a kick to pay off my debt, starting with my highest interest rate account and working my way down.  Today I got a letter from an online retailer/payment website saying their charge accounts are being taken over in July by another bank and they're raising the interest rate to 24.95%!  I have been doing business with this company for over 20 years and have bought literally thousands of dollars worth of merchandise and transferred lots of cash through their payment website.  That all came to a screeching halt when I read their letter.  I will NEVER buy another product from their retail website and as soon as my account is paid off, it's cancelled.

I am sick of being charged usurious interest rates for no good reason.  I have years of payment history, never late, always paying more than the minimum.  Several paid off accounts and paid loans but my credit score is still only near 700 and I still get no breaks on the interest rates.  While at the same time, the banks want to pay me less than 1% on my savings.  It's insane and I've had enough.  I'm paying them all off and to hell with them.  I have money, I don't need to borrow theirs and I certainly don't need any more stuff.  So if I can't afford to pay cash for something I want, I don't need it.

If being angry about the high interest weren't enough motivation, I figured up how much I'll be able to add to my investment accounts each month, once all the bills are paid off.  It's a staggering amount!  So to all those greedy banking bastards, I'm saying, "Sayonara Suckers!"

No comments: