Why You Should Hate Fed Rate Cut

Federal Reserve Chairman, Ben Bernanke, cut the [PRIME] Interest Rate today, to 1%. The ironically the Scary thing (just in time for Halloween) is that the Fed lowered Lending Rates to their lowest since 1958. Even more spooky is that it happened on the 79th anniversary of the Great Depression.

We ALL should be OUTRAGED! Why? Because even though Interest Rates have dropped down to all-time lows, your Credit Card APR will probably stay the same, unless you take action and do something about it.

I discuss my OUTRAGE about this 'Credit Card Mark-Up' in more detail in this video.

In my recent blog post, The Great Credit Card Mark-up, I illustrated how Banks borrow money from the Federal Reserve, at really low rates, and then jack the rates up for loans to Consumers.

"With rates being tied at an all time low of 1%, there is little reason for anyone to have to suffer with high Credit Card Rates."

You too should hate this recent rate cut! Your bank will not voluntarily follow Mr. Bernankes' lead. They will not lower your rates without you gritting your teeth, calling them, and forcing them to. But you can do it. I'll be happy to show you how.

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DEBT WARRIORS™ are not Attorneys. The information on this blog, should not be considered legal advice. If you need to speak with an Attorney click here:
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