Since so many of you come to Smart Balance Transfers to vent, I want to take the opportunity to do some of my own venting. People began receiving rate increase notices this weekend. By Monday morning, I’d heard from at least 30 people, and the number of comments continues to swell. Increasing interest rates to 29.99% is absurd and this ought to be big news. But its not.
So far, I’ve found little more than a Huffington Post blog article, which for some reason rejected my comment on the story, and a small blog posting on MSN. Other than that, no major media outlet seems to be interested in the story. Have we become so accustomed to malicious credit card practices that this massive rate increase is no longer newsworthy.
So I tried to contact ABC news. No luck. Apparently, no one seems to care that the financial well-being of tens of thousands of Americans is in danger.
And that’s my vent. I am very privileged to have the opportunity to facilitate the sharing of information on this matter via the Balance Transfers Blog, but I am also deeply, deeply disappointed in the major media players for turning a blind eye to an event that has far reaching implications for everyone who carries credit card debt. Shame on them.
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October 23rd, 2009 at 3:09 pm
I searched news media sites expecting to see a story and was shocked to find…nothing.
This is absolutely absurd.