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Sometimes you have to make personal sacrifice for the greater good.  While this may cause her some grief, I have full throated sympathy for Ann Minch

via Huffpost

For years, Ann Minch of Red Bluff, Calif., has carried a balance of several thousand dollars on her Bank of America credit card, making minimum monthly payments of about $130, sometimes paying an extra $50 or $100. She says she's never missed a payment.

Bank of America rewarded her loyalty this year by repeatedly raising her interest rate, which reached 30 percent in July.

Fed up, the 46-year-old stepmother of two turned to YouTube.

Here's the link to the video on Youtube, somebody please feel free to embed in the comments, I'm challenged in that regard.

http://www.youtube.com/...

Short diary that is sure to engage many commentators with the pros and cons of this individual protest method and consequences for both parties.  The video already has near 100,000 hits and growing.

Originally posted to route66 on Mon Sep 14, 2009 at 09:06 AM PDT.

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Comment Preferences

  •  Tip Jar (16+ / 0-)

    I am quite sure now that often, very often, in matters concerning religion and politics a man's reasoning powers are not above the monkey's. - Mark Twain

    by route66 on Mon Sep 14, 2009 at 09:06:49 AM PDT

  •  I no longer carry a credit card...that is what (6+ / 0-)

    we need to do.

    fuck em.

    Don't let the Stoopid run our country.

    by cyeko on Mon Sep 14, 2009 at 09:10:34 AM PDT

    •  thanks (1+ / 0-)
      Recommended by:
      ypsiCPA

      I am quite sure now that often, very often, in matters concerning religion and politics a man's reasoning powers are not above the monkey's. - Mark Twain

      by route66 on Mon Sep 14, 2009 at 09:16:36 AM PDT

      [ Parent ]

    •  yeah, too bad she seems like a teabagger... (0+ / 0-)

      she keeps lumping "the federal government" in with them...

      That and she thinks Ken Lay is still alive and running Bank of America.

      The congress is definitely complicit in letting this shit happen, but raving against them under the current system is like expecting a junkie working in a pharmacy to feel shame for lifting some dilaudid.

      (-8.50, -7.54) Only the educated are free. -Epictetus

      by Tin hat mafia on Mon Sep 14, 2009 at 10:08:47 AM PDT

      [ Parent ]

  •  Support your local Community Credit Union. (8+ / 0-)

    Don't bank, be a member.

    The next Single Payer Happy Hour is 9/25/2009.
    "RTLM in Rwanda was totally Fox News." -- a survivor

    by Pris from LA on Mon Sep 14, 2009 at 09:20:45 AM PDT

  •  I have BOA card (1+ / 0-)
    Recommended by:
    DRo

    I've used exactly twice in the last five years.

    I use the VISA I have from a credit union, and haven't carried a balance since the mid-90's. It's too easy to fall into the trap of not paying the balance in full each month. You just have to bite the bullet, or do without.

    I've been there, it's no fun...but NEVER at 30 percent. This shit's got to stop.

  •  Frankly... (0+ / 0-)

    She sounds like a Ron Paul follower. While I agree with her that CC companies have adopted usurious practices, her indictment of not only Bank of America but of the Federal Reserve and the entire federal government smacks of libertarian cant.

    Is that a real poncho, or is that a Sears' poncho? - Frank Zappa

    by JoesGarage on Mon Sep 14, 2009 at 09:25:04 AM PDT

    •  Frankly, you seem to be a moron. (0+ / 0-)

      Lacking education about what the Fed is, what it's done, who runs it, and that it is perfectly reasonable to ask for an audit of this PRIVATE CORPORATION that has never ever had to disclose its practices and connections.  

      Ron Paul just had the guts to push on the issue of a Fed Audit.  It's a good idea.

      Please, don't be a stupid American.  Learn how the country really works rather than rely on slimy responses like 'oh, she's probably a Ron Paul supporter.'

      Fight your ignorance: I know it's very very difficult for you to do.

      •  Nice... (0+ / 0-)

        Frankly, you seem to be a moron.

        Lacking education...don't be a stupid American...Fight your ignorance: I know it's very very difficult for you to do.

        What? Nothing about my mother?

        Is that a real poncho, or is that a Sears' poncho? - Frank Zappa

        by JoesGarage on Mon Sep 14, 2009 at 01:32:21 PM PDT

        [ Parent ]

  •  We cancelled our B of A card about 3 weeks ago (8+ / 0-)

    Bank of America is one of the worst.  We had a B or A credit card for over 10 years and have always paid our off balance every month.  We have never been late except for last month when we were late by one day.  Bank of America charged us a $39 late fee for a balance of $60.  My husband called to see if they'd reverse the fee considering we'd been good customers for years. They said "no" so we cancelled the card.  

  •  BOA Anecdote (6+ / 0-)

    I don't normally do stories. I'm doing a story.

    Last year, for some reason, I kept getting "nsf" charges ($35/ea) against my checking account. Even when I had plenty of money I was still getting charged. When I went into the bank to talk about this, I was floored.

    BOA has a policy to hold debit postings one a customer's balance gets below a certain amount. Then, as more and more debits come in, the process them in the order of highest - lowest regardless of when they arrived.  Then, all of the little $10 and $20 debt charges would go nsf and require overdraft protection...presto!  Instant cash for BOA.

    I have closed all my BOA accounts!

    Just Sayin'...

  •  Judge rejects BofA Settlement (3+ / 0-)
    Recommended by:
    drewfromct, Overseas, DRo

    Just heard on CNBC: Judge rejected a $33 million settlement relating to payment of bonuses to Merrill Lynch executives. Going to trial, it could become more expensive :)

    Awhile ago I canceled my BofA credit cards. No regrets.

    •  this is actually a very important story (3+ / 0-)
      Recommended by:
      drewfromct, ypsiCPA, DRo

      Mary Shapiro and the Corporate Whores whom Obama put at the SEC argued in favor of the carryover settlement. The Federal Judge, representing the people, rejected it as inadequate- as an illegal corporate giveaway. The Gov't is trying to keep the Merrill Lynch issue from seeing the light of day.

  •  I't too late for me (2+ / 0-)
    Recommended by:
    Overseas, trumpeter

    Citibank ruined my life, with help from Chase.  This was way back... and recently an Officer at Chase (that got my accounts because they got WAMU during bailout fiasco) wanted to know why I was closing accounts.

  •  Don't carry a balance on your credit card (2+ / 0-)
    Recommended by:
    drewfromct, BobTrips

    When you carry a credit card balance you have less money not more - due to the high interest rates.

    You should only use a credit card:

    • As a more convenient way to pay, only if you pay-off your balance every month.
    • Participate in rewards programs - getting cash or mileage credits
    • For real emergencies.  Emergencies do not include buying stuff that you can do without.

    Almost everyone can get more control over their own lives by living as if their incomes were 10-15% lower than they actually are (without borrowing the difference).  Then save the rest in conservative ways.

    The most important way to protect the environment is not to have more than one child.

    by nextstep on Mon Sep 14, 2009 at 09:58:39 AM PDT

    •  10-15% lower? (3+ / 0-)
      Recommended by:
      drewfromct, Overseas, Tin hat mafia

      that would be $32/month...I'm barely eating at $40/month.... But that ambulance ride balance just keeps going up at 32.4%/year.

      I was once a treehouse, I lived in a cake, but I never saw the way the orange slayed the rake... The Llama Song.

      by farmerchuck on Mon Sep 14, 2009 at 10:06:52 AM PDT

      [ Parent ]

    •  Back up your credit card... (1+ / 0-)
      Recommended by:
      nextstep

      With an overdraft line of credit.

      I'm building my house "out of pocket".  I had a lot of the money to get me started and I'm buying the materials to finish as I have money available.  But sometimes the "materials package" exceeds my cash flow.

      A month ago, for example, I was ready for the hardwood flooring, about $4,300 worth of wood.  I charged it on my Visa and then when the statement was due for payment I used LOC money.  That let me spread the payment over three months at 10% per annum.  A finance charge I was willing to pay so that I could get the floor down before the weather turned sour.

      Credit is a fine thing if used wisely.

      15 to 6. Pulled ahead as soon as the gate opened and never looked back....

      by BobTrips on Mon Sep 14, 2009 at 10:53:26 AM PDT

      [ Parent ]

  •  Usury... (2+ / 0-)
    Recommended by:
    martydd, DRo

    Doesn't the Bible have a few things to say about the charging of excessive interest on debts?

    Where are the "Christian Right" blowhards when we need them? Fucking hypocrites, picking and choosing which sins to condemn, and which to not merely tolerate but even embrace!

    If only we could convince them that usury cause homosexuality, we could get them on the right side of this, for once!

    Al Qeada is a faith-based initiative.

    by drewfromct on Mon Sep 14, 2009 at 10:12:49 AM PDT

  •  I applaud this woman (1+ / 0-)
    Recommended by:
    route66

    and this is a topic that progressives and the so-called "teabaggers" should be able to equally rally behind.

    The real problem in our society is monolithic corporate entities that answer only to investors.  We're not going to see the kind of change we need until these corporate entities are figuratively brought to their knees by the public.

    I still carry credit card debt with Citibank and Chase, only because they offered incredibly low promotional rates that effectively allow me to take money from them.  The day they go up is the day that I pay off the balances and part ways forever.

    In the meantime, all of my money has been transferred to a credit union.

    This is not a left/right fight.  This is a people vs. profits issue.  I applaud this woman for her bravery and audacity, and I hope it is the spark the fires up a widespread revolt.

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