This was another post in a thread on MarketWatch regarding the reining in of credit card practices. A poster named "Jr Accountant" protested that the consumers should read the contract they are signing, first, and stop complaining. My reply:
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The credit card companies do not provide a service that can be comprehended by the average person's sensibility. Instead, they try to slip something by the average person. They are not above board. Their motives are very far from pure.
They do not in any way act in good faith.
Just because their caveats are spelled out in stark print doesn't mean they are above board. They get you on the hook with the best ads money can buy, and warn you of the downside ONLY when forced to, and then ONLY with printed matter they know darn well is not what most people will pay attention to.
They are shysters, whose efforts are checked only when a legal gun is pointed at their heads. Once forced into action, they then massively violate the spirit of the laws imposed on them.
It's like the cigarette companies using splashy glossy color ads with sexual content to get you to buy cigarettes. When they finally are legislatively forced to present the downside, they do so with ads that they very clearly know won't attract nearly as much attention.
It's also like those car ads that have super-fast readings of the fine print, so obviously intended to not be understood.
Again, they are transparently not acting in good faith.
Saying, "Well, they read the fine print on the commercial; you should listen more closely'" is an endorsement of the violation of the spirit of the law. Hiding behind the letter of the law while violating the spirit of the law is, in a way, worse than just plain violating the law. Sure, you'll still get your salary by hiding behind the letter of the law, but big-picture wise, it is so very wrong.
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