Another Case of Perspective

In this article, the author discusses Senate hearings over interest and other issues on credit cards hitting American consumers. However, for a member of the Senate to be upset over the amount of a late fee is slightly ridiculous. Have you ever seen the late fees and interest on a tax bill paid late? Yee-ouch. The article also mentions hard to understand fine print. Well, duh, that is why it is called fine print. Again, have you read the tax code? If you can understand it without taking a class specifically on the tax code, have you considered a career as a tax professional? That crap is nasty and I would bet that most college graduates could not understand even the simplest of code sections. Wait, rephrase that, how about graduates with a Master's degree? Nope, probably not them either. (This obviously excludes MST people figuring they are supposed to know the tax code, but that is easier said than done.)

So the next time you apply for a credit card, read the fine print. If you don't understand something, have someone help you who is smarter (a lawyer or financial person if you have one as a friend). Just don't complain when you just sign away your life when you end up having signed away your life.

Practical advice because I am not a member of the Senate or an idiotic reporter.