Big Bank Credit Card Ad Scam on the Aging Family

I am not so sure how I feel about this new plaintive TV commercial featuring an adult - daughter who “ drops everything”,” gives up her job to “ go across the country’ and help her frail elderly mother with medical issues by moving in.

Bad times hit this 60ish adult child, the commercial tells us. As a result of her filial maturity , she and now lags behind in her credit card debt. In spite of her insolvency, she goes on and on about how her Mom thinks she ‘s perfect and how much she loves her aging mother. Her responsible adult child gesture is translated into a new start, with a great tip. She found out, it seems, her great credit card companies, just want to “ communicate” with her and then they will rush to help her, In fact, she says, these benevolent credit card guys made it possible for her to jettison her income yet “ keep up.

“ My credit card company made it possible”.

So the message is that by being responsible and caring for our parents, we are like the credit card industry and the banks that run them. They have been really responsible and commutative and just want to “ feel your pain”. In spite of your non-payments, they will then help you in a flash

Responsible, communicative, loving banks and credit cards?

Well I don’t think so.

On February 11th all those big banks were forced by Congress to send their entitled CEO’s before the House Financial Services Committee. These big cheese types are the typical entitled clients the many geriatric care managers’ face- (dysfunctional with behaviors that result in poor judgment and decision making, the cult of “It’s all about me “, repulsive, and highly problematic with a tendency to totally obscure the truth). The kingpins had to shiver and sweat in front of Barney Frank with the glaring cameras lights holding them like roaches under a moved bureau.


Like the big guys of the Detroit auto companies, a few months ago, (flying in the corporate jets to ask for government handouts) the House committee savaged those Big Bank CEOs including JP Morgan, Goldman, Bank of America, and Wells Fargo. As this new round of corporate jets types (Citibank ordered a 50 million corp. jet after it’s first handout), these entitled big shots testified before the House Financial Services Committee and Rep. Maxine Waters (D-CA) bellowed the most contemptuous blast, opening with:

"To all the captains of the universe sitting here before all of us, all of my life I have been in disagreement with the banking industry."

Unmasking the fake kind credit card companies, who just want to hear adult children’s pain, as they fly off to care for their frail elderly, Waters pointed her scathing finger at the CEOs who hiked interest rates on credit cardholders, after their first bailout. She flailed at them suggesting that this is incompatible with their real-time rip off 1sst TARP deposit of billions in bailout money from American taxpayers. Bank of America executive Ken Lewis insanely responded that his bank raised interest rates on only 9 percent of its customers in 2008.Whay a guy.

Waters is against credit card issuers increasing rates on consumers. She is one of the original sponsors of the Credit Cardholder's Bill of Rights, a piece of legislation that would prevent issuers from raising rates for "arbitrary" reason.

This bank/credit card TV ad, which is now a full-page ad in the New York Times and the testimony of the CEO on February 11th just, does not jive. They raised credit card rates, while getting free handouts from us. They do not want, it seems to me, “ to help” you selfless baby boomers who care for your aging parents at the expense of yourself, as you fall further and further in debt.

Big deal they created electronic payment networks to help you, as the ad states, if they raised their credit card rates 9%- 24%. They are using people already insolvent and stressed by caring for their parents, to make you believe that they are that caring group too. One point the ad’s point is the same, the banks and the adult children who quit their jobs to care for their parents are both insolvent. Score one for them.

I think using the aging family, already footing 78% cost of long term care, quitting their jobs, suffering mental health breakdowns, depression and really risking their own mortality--- while they contributing $257 billion in free care (in just the year 2000), to make lousy bank and credit cards look good -is despicable.

Raising credit cards rates an insane 24%, while receiving billions from the government .in part made of these struggling adult children care givers, and then acting like goodie two shoes- on TV-= is just savaging- not just biting- the poor hand that feeds you