Universal Default: Credit cards

March 13, 2010 · By admin

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Suzy Orman explains the basics about the “Universal Default” used by credit card companies to charge you very high interest rates. More info at: sccrealestateuncensored.com micasamidinero.com

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16 Responses

wizbiz777

September 18th, 2008 at 12:50 pm
1

Very interesting,and scary! Thanks for the info.
Yankhadenough

December 17th, 2008 at 9:43 am
2

Time to bust the credit card industry folks> default, Default , DEFAULT. Defaulting stays on your credit report only 7 years, bankruptcy for 10 ! Keep paying your mortgage and car loans of course, and check your state laws BEFORE you default on cc’s (in case they can garnish wages or put liens on your home) . Florida is debtor’s haven.
amyanthony2002

January 31st, 2009 at 4:16 pm
3

or max your credit card on gold and can food and then ask for the save american program……credit card know about this program because i told them about it before i closed my account… if they take our government money they better have one…. juice the card now because money will be worth nothing soon…… when i take 10,000 for a loaf of bread that is when you pay them off…..
fraud66

February 17th, 2009 at 1:52 am
4

It should be illegal!
qweqqweqbt

April 27th, 2009 at 3:10 am
5

no shit sherlock, i think we all know that already. you’re not saying anything usefull, i watched this lady in 4 clips now and nothing she says is smart. she’s only smart enough to state the obvious
TomsFriendKake

June 4th, 2009 at 4:27 am
6

I couldn’t agree more. And how much is she getting paid?
j0hnsc4r

September 3rd, 2009 at 12:19 pm
7

lol if anything you should default on your credit cards
jonesreportdotcom

October 12th, 2009 at 7:07 pm
8

Default. Send them a cease and desist letter, change your number. Credit card default is growing more popular with each passing day. The dollar is now tanking and that will soon cause big time inflation. The economic recovery is a myth. It’s individual economic survival time folks. Paying them back is insane. Suzy is an over paid bubblehead.
yoseph09

October 18th, 2009 at 4:51 am
9

wow problem solved! just don’t be late on ANY of your payments and then maybe by the grace of our bank lords your interest rate won’t shoot up like a rocket!you see, the problem really is not HOW to come up with the payments,oh no,it’s when to pay! I personally suggest and I’m sure this woman will agree,that you link one of your multi million dollar checking accounts electronically to your credit accounts,
therefor insuring TIMELY payments.I love it when rich people give financial advice.
FinanceUS

November 7th, 2009 at 12:12 am
10

Fuc- FICO! Just defult. tell them you have no money, no job, no assets, no life, then they will leave you alone. Next, SAVE and pay cash for EVERYTHING! yes, even a house can be bought with cash. thats they way it use to be done.
rayme4raw

November 24th, 2009 at 11:02 pm
11

LOL, Suzy is a bobblehead. Did you see her latest FICO commercial. Don’t worry folks, your money is still safe in the bank:) Wait, isn’t FICO broke?
mrigmaiden1

December 19th, 2009 at 4:43 am
12

How about this? DON’T use credit cards in the first place?
HurricaneHeidi

December 23rd, 2009 at 7:46 am
13

It is INSANE to keep making payments on UNSECURED DEBT (credit cards) if doing so makes you unable to keep up with your payments on your SECURED DEBT (mortgage).

Not only would that put you in danger of losing your HOME through foreclosure, but just as Suze says, the credit card companies would raise your interest rates anyway because of the black mark on your FICO score for missing your mortgage payments. YOUR MORTGAGE COMPANY CANNOT RAISE YOUR INTEREST RATE because it’s contractually fixed.
HurricaneHeidi

December 23rd, 2009 at 8:01 am
14

@Yankhadenough – You are absolutely correct. I completely agree with you, and I speak from personal experience.

I defaulted almost 6 years ago, defeated a collections attorney myself without hiring a lawyer, and I completely avoided bankruptcy and got myself and my husband out of the vicious commercial debt trap.

I published a book describing exactly how.

watch?v=kkcnQdWzC3s

The goddam banks have lobbied Congress to get bailed out through our TAXES – take back your money. DEFAULT
HurricaneHeidi

December 23rd, 2009 at 8:07 am
15

@HurricaneHeidi – I repeat -
Your mortgage company cannot raise your interest rate because it is contractually FIXED, so NEVER fail to make your mortgage payments. Do NOT lose your home.

DEFAULT on the damn credit cards and learn to defend yourselves against collection like I did. They are not a convenience. They are a deliberately BAITED TRAP designed to make us into life-long debt slaves.

If I can do it, you can do it.

Use debit cards only and move your money to a Credit Union ASAP
HurricaneHeidi

December 23rd, 2009 at 8:11 am
16

@rayme4raw – Yes… I’ve seen Suze’s commercials about FICO and the credit card industry. She is a bought and paid for TOOL of the commercial Debt Slave System. She is using her popularity to support the credit card industry. I call that a conflict of interest. Who’s paying her to do those commercials, hmmm?