Official News 22.09.2017 How Banks Deceive You by Issuing Credit Cards Free of Charge

Discussion in 'MMM Global - English' started by MMM Global Support Team, Sep 22, 2017.

  1. MMM Global Support Team

    MMM Global Support Team Administrator

    The MMM Mutual Aid Community is building a just world where people will live happily and won't depend on banks. Its members help each other financially and earn a high stable income. These conditions free people from the need for loans and other facilities that make victim to debt bondage.

    We've repeatedly told you about banks deceiving their customers. However, they've got dozens of other tricks to cheat gullible people. One of the tricks is making a gift for a customer in the form of a free credit card. However, in a couple of years the customer will have to pay quite a lot of money for this allegedly free card.

    What's the catch

    When a customer orders a payment card or uses other bank services, bank employees make them a gift — a credit card without annual fee. If the card holder does not withdraw funds from the card, they owe nothing to the bank. The credit card is a present for a “rainy day” — the bank is allegedly going to help you in a difficult situation.

    However, people start using this card in 60 % of the cases — it's hard for them to resist the temptation of withdrawing money. Or the card turns out to have a fee, and in 2 or 3 years you will have to pay a certain amount for using it.

    Let's review this process in more detail:
    1. You come to a bank to order a payment card. A smiling manager offers you to order a credit card with no annual fee.
    2. You agree and feel happy that the bank cares about you. You come home, put the card into the drawer and forget all about it.
    3. It turns out that you don't have to pay the annual fee in the first year, then you have to start paying.
    4. The service fee is withdrawn from the same credit card, but you're not notified about it.
    5. Your credit card debt grows based on the interest rate. The longer you don't pay it back, the faster it grows.
    6. In 2 or 3 years when the interest debt is quite big, a bank employee calls you and demands you pay it back.
    7. You tell him the card is free and you know nothing about the debt. The answer is that the card was only free for a year and all papers are legally correct. When you accepted the card, you signed the terms of use.
    You won't be able to prove anything to the bank because it's legally in the right. You'll have to pay.

    How to avoid these tricks

    You must remember that if a bank offers you anything for free, there's always a catch. Refuse to accept such services and read the agreements you sign carefully. Don't hesitate to ask clarifying questions that interest you.

    But the best way to avoid tricks of the banks is to stop dealing with them. Order a payment card — and that's it. You can now make transfers, receive funds and withdraw money from an ATM. That's enough.

    Don't take loan — instead, join MMM. Within the Community, your money will grow at a stable high rate — no bank in the world can offer you the same conditions. Join MMM — build a just financial system and increase your wealth!

    Announcement for social media:

    Banks often press credit cards with no annual fee upon their customers. Gullible people take it at face value and don't even read agreements with tricks in them. Learn more in this article.
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