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Thursday, April 23, 2009


ne·glect (n-glkt)
tr.v. ne·glect·ed, ne·glect·ing, ne·glects
1. To pay little or no attention to; fail to heed; disregard: neglected their warnings.
2. To fail to care for or attend to properly: neglects her appearance.
3. To fail to do or carry out, as through carelessness or oversight: neglected to return the call.
1. The act or an instance of neglecting something.
2. The state of being neglected.
3. Habitual lack of care.

Everyone knows what neglect is. I really didn't need to add the definition at the top of the page there, but what the hell.

Neglect happens all the time. Inattention to detail, procrastination, late payments, not telling someone "Thank you" and so on.
Businesses get you to sign up for an introductory offer with the condition that you must call them after the trial period has ended and cancel the service or you will automatically be billed the regular rate. They hope that you will either like the service and retain it, or just neglect to cancel it, either way they will glean the regular fee after the introductory period has ended.
Cable companies sign you up for the free 3 month trial of the movie channels hoping you will not bother to cancel at the end of the term.
Video rental stores let you rent a movie for a set price for so many days hoping all along that you will be late returning it thereby racking up late fees.
Same with any other company who extends you credit. Mortgages, car loans, credit cards, ... The list goes on. Even though they preach making payments on time to retain a good credit score, they secretly hope you're late so they can collect late fees. Which from having worked at a high risk credit card application center in the past, I know for a fact we made more money on late fees than we did regular fees.

And credit card companies are some of the biggest crooks in the world. They let you sign up for the introductory rate which is a lot of times 0% for ____ months, then sock it to you. They have in their contract - which you accept and are contractually obligated to merely by signing up for their card - the option of raising your rate and charging different fees whenever they want, unless it specifically states otherwise.
They are fucks. But that's the price you pay when you use revolving credit. So what business does the idiot in the White House have meddling in their business? I'm not quite sure. I guess it's just another look good thing prompted by whiney-assed libtards.

Obama to prod credit card firms on fee practices