Exxon/Mobil - Inflation + Greed

Just got the new credit terms for my Exxon/Mobil credit card in the mail today.
The new interest rate on purchases is 34.24%.
Seems they are trying to lower gasoline prices, but now raising the interest rates, so bottom line is that you will lose either way.
Fortunately, I am one of those who pay my bill in full every month, but I feel sorry for those who don't.
Oh, and if this has anything to do with Biden and his failure of an administration, (his Bidenomics,) I am totally against it and/or it.

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Neman1622 · 41-45, M

I typically look for cards that have a reasonable annual fee with good rewards in an area of my life that I spend good money on. The terms and rewards are better than free cards.

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whowasthatmaskedman · 70-79, M

@Neman1622 No. Not since Covid. But I have supermarket reward cards that reward in discounts and connect to fuel. And to on line purchases, 😷

Neman1622 · 41-45, M

@sladejr cool. I carry a Chase Marriott card that costs $95 a year, but guarantees me at least one free night, and as we know, a night at a Marriott starts at 120, so, win. Don't know if that card is still offered though. But look for something like that. Also you rack up points for more free nights just using the card.

For flights, I really splurged in that category... not sure I'm comfortable sharing that publicly, lol. It's a card that's not cheap, but the payback is totally worth it if you're in airports even just a few times a year

sladejr · 56-60, M

@Neman1622 I'll look into it. I am already with Chase 😎

Ynotisay · M

Two things. First, you should probably know that interest rates have NOTHING to with Bidenomics. Or his administration. Outside of policies that are contributing to the Federal Reserve keeping interest rates unchanged and anticipating three rate cuts this year. That would be a good start. Oh...and "they," as in a specific company or the government, aren't lowering gas prices. That's not how it works.

The second, which is the most important, is WHY you would hold a credit care with a 34% interest rate. Is there a law where you live that demands that you not cancel credit cards? Especially a retailer card? If you have excellent credit you can get one for half that rate. I'd suggest doing that.

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Ynotisay · M

@windinhishair Yep. That's what happens. They're vultures when it comes to late fees.
The guy who posted this won't care but the Biden Administration recently capped late fees at 8 bucks.

windinhishair · 61-69, M

@Ynotisay I saw that. It made a lot of sense.

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wildbill83 · 36-40, M

that's bidenomics for ya...

interest rates on everything have gone up; and with democrats still pushing for banks to give out loans to people who will most likely default, we're probably headed for another 2008 housing crash...

PleasurePunch · 100+

@wildbill83 They don't check your income anymore for new credit cards, you can say anything and get it.

PleasurePunch · 100+

Just buy a bag of nuts once every quarter and your credit will be fine, Its use over card-capacity that boosts your score and the less use the better.

Then find a way to carpool or use a bike. Or work at home. Just saying...I don't know your situation of course...

I wanted an ultra low interest card and got one, trouble is they support fascist causes in the world so I really want to drop it and I would if I was a big spender...

The GOP would be worse (if they had the chance) on ordinary peoples ability to have a good economic life. Both "parties" support the cutthroat corporatocracy and it in turn supports any party that won't object to anything they do, like ruining the world's ecology...

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PleasurePunch · 100+

@Ynotisay How about truth in general??? Its no "magic".

Ynotisay · M

@PleasurePunch What I meant with 'magic wand' is a leader selling quick fixes. You know, Bernie Sanders. Donald Trump. They do that because they know their audience is largely made up of emotional thinkers, who don't dig past the surface, and they get off on it. It's not about implementation. It's about feeeeeelings.
Grown ups understand complexities. If you do A then B happens. And this is how it affects C and D. Make sense? Probably not. Because you ran with "Biden supports genocide."
And you expect to be taken seriously with that shit? Uh...OK. You have fun with that.

whowasthatmaskedman · 70-79, M

Its so much easier to bleed money out of ordinary Americans than it is to pump oil out of the ground..Interest rates like that used to be called "Usury"😷

windinhishair · 61-69, M

@whowasthatmaskedman And they used to be illegal under US law.

whowasthatmaskedman · 70-79, M

@windinhishair But if you want more proof that US businesses would rather bleed Americans dry than compete on a world market......There it is..😷

windinhishair · 61-69, M

@whowasthatmaskedman No more proof needed. I worked for a large US company for decades and they couldn't even treat their own employees humanely or fairly.