keywords for this image: american express, bombers, citibank, credit cards, credit debt, interest rates, loans, robot, savings, ecomomic downturn, poverty, wealth, indebtedness, mastercard, visa, bankers, government bailout, fascism,
A montage of some of my digital artwork.
Recently I recieved letters from the Credit card companies which I have cards with. These letters told me in so many frosting covered words that we are jacking up your rates. Well I am what you would call an excellent customer. I never missed a payment, was never late for a payment and always paid way more than the minimum. What a sham being the good citizen is, I actually thought it meant something, boy was I wrong.
All these banks recieved the largest taxpayer bailout in U.S. history and at the same time that the Federal Reserve has lowered short-term interest rates that banks pay to near zero percent, the same banks are charging consumers outrageous fees and sky-high interest rates on credit cards and other loans.
Citibank, Bank of America, Wells Fargo, and American Express recently notified customers that their interest rates are going up, in some cases to 30 percent, if a single payment is missed. They also are jacking-up interest rates on consumers who pay their bills on time and never go over their credit card limit.