The Triple-A Boot

So, the United States is no longer in the AAA club... AAA credit rating club, that is. Downgraded to a lowly AA+. Should any of us be surprised?

I saw the headlines and figured I'd do a little Saturday morning reading. For the most part, the blame is on Congress and President Obama's plates. However, we forgot to blame one crucial thing.

The nonchalance of the "silent majority" of American people.

While we sit around and gripe about how Congress is acting like a bunch of babies, they continue to do exactly what we elect them to do. They are human beings with flaws, just like us. They lie, they cheat, they steal, and they manipulate -- no different than the their bosses that hired them. Then, we've put hundreds of them in a squared circle... each of them have their own needs and agendas to fight for based upon the people they represent.

Now comes the good part. Insert the hardliners -- the bosses that insist that you DO THIS OR ELSE!! What would you do if 100,000 of your supervisors came to you and demanded that you do something or be fired? You probably would do it, depending on your circumstances and whether or not the demand was outright criminal... especially if you have mouths to feed at home or people to take care of in your personal life. So, they blindly fall in line like mindless robots... brainwashed by the allure of power, money, prestige -- and more importantly fear of losing their job. Sounds like ordinary human beings to me -- just like those who elect them.

If we want positive results, perhaps we should lead by example. We need to teach future generations of politicians about respect and the difference between hurtful dialogue and healthy debate. We need to instill into them that having different backgrounds, qualities, and opinions are okay -- and that each and every one of us has something to contribute to a better society. Listen with an open mind, and then react... and let them know they aren't going to necessarily be punished for reaching across the aisle. After all, if we can't do this in public -- how realistic is it to believe we'd do it in office?

Credit Crunch Berries, Part 2

So, as some may recall from a previous post, I wrote to Capital One regarding the change of terms I received. Just to hammer home the point of how impersonal these companies are, I am posting the original letter I submitted to them -- followed by their subsequent response.

Just take a moment to soak in the vapors of their idiotic reply... and they wonder why some of us want them to sink into the abyss. When they do, I hope the underlings find employment elsewhere as quickly as possible. I don't want any hard-working, honest person to lose their jobs. But, the people at the top need to learn a very important lesson.

Original Letter:

As a loyal customer who has always made timely payments (often above
minimums), I am truly disheartened to learn that my purchase rate is
going up by 70% in less than 3 months from now.

Through no fault of my own, your decision has forced me to critically
analyze your commitment to your best customers. I realize you have a
business to run. However, I am shocked that you are targeting customers
who not only bring you good business, but cause no problems for you. To
make it even more difficult for these customers to pay down their
balances and risk losing them altogether makes no sense to me.

Reluctantly, I have no choice but to close and immediately pay off my
Capital One account. I will follow the procedures you have outlined in
your mailer. I just wanted your company to know how disappointed I am to
receive these change of terms.

Sincerely,

Kevin

-------------------------------------
Capital One Response:

February 10, 2009 07:32 PM
Subject: Re: Account terms (fees, APR, etc.)
Message: Dear Kevin,

Thanks for contacting us about your Capital One account.

Thank you for making us aware of your situation.

You are a valued customer and we thank you for choosing Capital One.

If you have questions, please respond to this email or our Customer
Service Representatives are available 24 hours a day, 7 days a week at
1-800-955-7070.

Sincerely,

Capital One Services, LLC.
-------------------------------------
Now, how would you feel about getting a half-ass reply such as this? Would you feel like a valued Customer? This is a 'stock' response, pieced together to the point where it doesn't really address me or my issue. Ha... what's in my wallet? Not a Capital One card! My dogs Dirk and Yani are using the sum bitch as a chew toy.

Credit Crunch Berries

Well, today probably marks the beginning of a series of difficult financial choices I must make... at least while the U.S. economy is teetering.

Here I am, sipping a cup of coffee. I just received a mailer from Capital One, which is out to notify me of a change in our terms of agreement.

"Due to extraordinary changes in the economic environment, we're reviewing our existing credit card accounts. Having considered these economic conditions, your account's current Purchase rate, and the length of time you've had this rate and account, we will be increasing your Purchase rate. We're also raising your Cash Advance and Default rates."

Essentially, my rate is increasing by 70% on April 17, 2009. Mind you, I've never been late on payments. I've always paid more than the minimum. The tone of this mailer is very impersonal, and I question this move on their part.

Through no fault of my own, their decision has forced me to critically analyze their commitment to their best customers. I realize they have a business to run. However, I am shocked that they are targeting customers who not only bring them good business, but cause no problems.

Now, many people who have enough cash and savings to buy houses, cars, college tuition, and pay medical/dental expenses would tell me that I don't need credit cards... or credit cards are bad. I am so happy that those citizens live in a bubble where unexpected problems never overwhelm their savings and income. For me, although I am good at saving money where I can and watching my spending, I am one of the middle-class citizens that needs a little credit every once in a while. To make it even more difficult for customers like me to pay down balances and risk losing them altogether makes no sense to me.

Reluctantly, I have no choice but to close and immediately pay off this Capital One account. I certainly wrote their company to let them know how disappointed I am to receive these change of terms.