Issuing Creditcards by Deception is a Way of Doing Business

As I mentioned in a previous post, Citigroup has a track record of being anti-consumer, and even has involved itself in fraudulent business practices. Unfortunately, Citigroup is not alone. American Express, and many other companies are doing the same now. It is amazing what kinds of patterns you'll find if you do a little digging. One of the groups, World Financial Group, is an outlet for many financial services companies that tolerate deceptive and fraudulent activity.

My discovery of the problems with creditcards, is just part of the picture. I have to say though, that creditcards are the most successful tool for the industry that I can see. As Edward Yingling of the American Bankers Association says, "But I think it is generally understood that those that use the revolving part of the credit card are kind of the sweet spot". Take a few minutes and look at this video slot by Frontline. (If you are on dailup, try this link) Deception is a way of business.