Sandy = more credit card debt

3 Nov

Hurricane Sandy struck on Monday, October 29. By 1:03a, Tuesday, October 30, I received an email from Wells Fargo stating late fees would be waived on credit cards, consumer and certain small business loans, including home-equity, auto and student loans. What a nice gesture towards those hit by Sandy.

Wells Fargo Fees Waived

The email also advised me that “Fees normally charged to you for using another bank’s ATMs when you use another bank’s ATM in Maryland, Virginia, Washington, D.C., Delaware, Pennsylvania, New York, New Jersey and Connecticut” will be waived.

Wow, Wells Fargo! Really earning some consumer brownie points. These two acts of financial compassion during a disaster will ultimately affect their income, but this was the least they could do to “help during these difficult times.”

But then, 24 hours later, I receive an email from Bank of America.

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Why I’m here

2 Nov

I’m fed up with the countless credit card offers I receive…daily. I am spending one year documenting all the offers I receive to demonstrate the severity of the problem and how it relates to the larger American credit card debt crisis.

My goals are to highlight the fine print in these offers and ideally educate others regarding the danger of credit cards and the financial havoc they can wreak.