Quote From: hammer44I just wrote a super long email to Dr. Phil on this very subject.....I can't wait to see the show on Friday....What I would love to know is how in the hell, can credit card companies get away with raising your rates (I could care less that their reply would be..."It's in the agreement") to astronomical rates (29%) across the board because you were late with one payment, and are getting close to max on your credit limit....I knew what I was doing at the time, and could afford it. What I didn't expect, and I know, it's my fault....to a point, is that they would raise my rates to nearly 30%....It's like they want me to file Bankruptcy....
I have had $80,000 in credit card debt for almost 4 years, paying $1,800. a month in interest and getting nowhere on the principal....I simply can't pay anymore, and even when I have paid the debt down, they lower my credit limit, keeping me in a situation where my credit limit is almost 100% maxed....They're crooks, scum, and something needs to be done about them.
Man I can't wait to see this show on Friday......Hammer44
Regarding money, possessions in particular, time, power, ego, The more space, territory, leniency, accolade, latitude, whatever you are allowed, you will invariably fill.
Ergo, if you pay off a credit card and you KNOW you have "x" amount of credit, the majority of people will without question strive to fill that credit availability or if it's time, carry a project time allotment to the max (perhaps even procrastinate to the deadline), if it's power, exude authority when it isn't necessary or appropriate, make decisions without much thought because one can.
It takes discipline of spirit and sometimes the simple act of waiting 24 hours until the purchase, decision or action should be made and a lot of the time, there is a world of difference in what is necessary and what is compulsive behavior.
I was 11 when my uncle gave me that advice and it took a long time for it to settle into my spirit and affect my life to it's full implication. Not that it works all the time, but every now and again, his words ring in my heart and I make the attempt to heed them.
Occasionally, it has saved me from major mistakes. Perhaps if more of us practiced this principle, we wouldn't be faced with so very many crises and I for one am guilty of lots and lots of them. I speak mainly to myself.
