One of the objectives for this blog is to help people protect themselves from predatory behavior of companies. I love capitalism and love to be able to benefit from the innovations offered by the market. I want companies trying to do and by providing financial value to the customer.
Yet there are many who try to deceive and take advantage of gullible customers. This applies particularly to financial companies. If a company tries to trick you by selling you on a less than truthful description of supply (such as $ 1 for the first month, or 1% interest rate for the first 6 months) my experience leads me to believe, they have no confidence that they have a real value. They do not believe people would buy what they offer for the real price, so instead they try and trick the people with misleading information. And there are plenty of people who are financially illiterate fall for these bad deals - Do not be one of them.
Credit card companies seem particularly bad in this kind of behavior. Most often they just take advantage of people who are not hard to understand what the real costs and interest. The consumer must obviously accept some of the debt. But tricking people who are not financially literate is not an honorable way to make money. But there are many who do not seem to forget to use those that do not educate themselves.
Put your financial literacy education by visiting these sites and reading and watching (you can look at the whole show online PBS) and learning. If you are not worth doing to your financial literacy it will cost you as others take advantage of you.