I had a business bankruptcy 10 years ago, and my credit still suffers, so I applied for and received a GetSmart Visa from Providian.
After a year of on-time perfect payments, and after I accumulated a balance of about $2,100, I was switched to Emerge MasterCard (also owned by Provdian) — at an interest rate of 29.99 percent.
I thought of all the things that a normal person might do to get out of this — pay-off the balance, file complaints with government agencies about this legendary rip-off operation, etc.
Then, it dawned on me that the best way to deal with a these scam artists is to send them the letter I just sent them:
Dear Folks:
I do not accept your change of interest rates, and will not pay the increased rate. If you fail to lower the rate immediately, I will not make any payments to you — ever.
Because of your predatory, bait-and-switch, usurious tactics intended to screw me, you have incurred a penalty — my rage. You can avoid this penalty by lowering the interest rate; if you do not do so, you get screwed out of the balance.
Now, you will tell me that you will "ruin" my credit! Sorry folks, it is already ruined. Not paying you will actually reflect well on my credit report — you see, having an Emerge Card means I have bad credit and that I am stupid.By not paying you, at least I don't look stupid.
Please let me know your intentions.
Thanks
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