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Don't
got 'em
Off the
Wall
Jan. 3,
2008
Not many people make resolutions toward the end
of the year, at least from my experience. I've always heard tell
they come at the beginning of each year. But I decided toward
the end of last year (sounds so long ago) I was going to make
a move which would free me of a lot of headaches get rid
of all my credit cards.
I can imagine what is going through many minds right
now. "What would you ever want to do something like that
for, unless you are so into debt you have to free yourself from
it?"
Let me make something perfectly clear. I think paying
bills off on time has something to do with upbringing, but I
can't be certain of that. In any case, I am one of those folks
whom when I get a bill, it gets paid within 48 hours, except
credit cards. I pay them within hours of receiving them. "Then
what's the deal?" I think there is more than one.
When I was in business, I had to have them to get
products from companies that wouldn't issue me credit. Some of
those bills added up to hefty amounts. Now that I am retired,
I don't need to spend that much (thank God), and so I don't need
them.
Second, when I have plastic, as it is called, there
is an ease of spending. It may be simple, but I still have to
pay at the end of the month. When I'm now on a limited income,
I can't depend on money coming in to pay out. So the best thing
to do is cut down. Having a little left over really isn't such
a bad plan, don't you reckon?
And third, I don't have to pay those "annoyance"
charges anymore. They come under the classifications of "Basic
Assist" and "Credit Protection Plan." When I asked
if I would like to invest in these pluses, I didn't realize,
after I signed up, that they would turn into big time minuses.
Let me clarify.
I was told each would cost me $9.99 per month, so
stupidly, I agreed. I can definitely see the need for credit
card protection so others wouldn't steal my card number, etc.,
but the other I definitely didn't need and should have said no.
But I was handed a sales pitch and bit into it.
Being in a hurry to pay off my cards, I never looked
at the itemized amount, but the bottom figure. I wrote the check
and sent it off to get it there on time so I wouldn't get a late
charge. Stupid me. I take the blame. What I didn't recognize
is that instead of one company charging me $9.99 for Basic Assist,
for example, the figure was doubled. So, I was paying twice the
amount without ever realizing it. I have only myself to blame.
Here is where I really got razzle-frazzled, to put
it politely.
Toward the end of last year, I called both credit
card companies and decided to cancel both cards. I sighed with
relief that all my credit card bills were behind me and I could
move on with a different type of spending program. But guess
what? One credit card company kept sending me bills. At first
I thought it must be a carry over from the last bill I had, and
so I paid it without question. The next month I got another bill.
Huh?
I called the company and I was told get this
that even though I had cancelled my credit card, I had
not cancelled my "Basic Assist" and "Credit Protection
Plan," Wouldn't it make sense that once the card is
canceled, so is the plan protecting it? Not the way they figured.
When all was said and done, I was to the minus of $72. I even
threatened to get a lawyer. I don't think it fazed them.
I've heard from others who had the same problem.
They told me this is how credit card companies make their money.
It's downright aggravating to say the least!
In closing, I have a number of suggestions. If you
can do without them, do it. Read over the itemizations making
sure everything you agreed to pay is there and no more. Make
sure you pay what you owe monthly. When canceling cards, get
rid of the additions, too.
Paul J. Volkmann
11/28/07
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