Fool Me Once ……

By Sun

A couple of days ago, I forwarded a story from MSN Money about how Capital One is trying to collect more fees by giving people low-limit credit cards so that they can easily overspent with cards. While Capital One’s practice of helping people accumulating more debts should be condemned, the center figures in the story, the Kehns, actually bear the same share of responsibility of getting themselves into that situation. As Golbguru commented

I am not surprised Cap One tried to push more cards to the guys. What is dissappointing is to see these people take the bait.

Not just that they took the bait, but repeatedly. Come on, nobody forced you to take their card, Kehn. You volunteered yourself. Yet at the end, things went so bad for you and you had to get help from credit counseling agency (and you believe that?), but you did forget to complain

I owe these people that much damn money and they are willing to give me another credit card? This is nuts.

Yeah, they are nuts, so are you Kehn, if not even worse. This reminds me what people are saying: “Fool me once, shame on you. Fool me twice, shame on me.”

Wait, there is a better person to tell you that.

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Random thoughts

4 Responses to “Fool Me Once ……”

moneymonk | Dec 08, 2006 at 6:53 pm
Capitol One is also known as Crapital One. Credit Cards companies have all kinds of stuff to get you further in debt. But I must say that these people that fall for the gimmicks will always hurt in the long run.
Providence is another CC company that has dirty tricks, they are known for holding cardholders credit card payment for at least 6 days until they posted it, knowning by then the customer payment will be late and of course they will charge that customer a late fee.
I do not have one credit card and I am proud of it!
The Sun | Dec 08, 2006 at 11:12 pm
It’s true that there are people keep falling into the trap and credit card companies are not the only one to blame. If people are not responsible to themselves, it’s hard to imagine that they can expect other people, like the credit card companies, to be responsible to them.
dimes | Dec 09, 2006 at 2:31 pm
How stupid! People have to be gullible to think companies have their (people’s) best interests at heart. I can’t believe they fell for it SIX times. And that so many other people did the same thing. Amazing.
The Sun | Dec 10, 2006 at 3:46 pm
Stupid, that’s right. And they are definite not alone, otherwise Capital One could have abandoned this tactic long time ago if nobody took the bait. For many people, they simply take the easy credit without considering the consequence.