Credit Card Hell

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Why are credit card companies so unwilling to transfer obviously distressed customers into programs that cancel their accounts and provide them a fixed period of time to pay off their balance?  Mike Konczal crunches the numbers and comes up with the answer: banks don’t really care if you pay off your entire balance.  They can make more money by squeezing late fees and high interest rates out of you for even a short period than they can by having you pay off your whole balance at a moderate interest rate.  Details here.

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DEMOCRACY DOES NOT EXIST...

without free and fair elections, a vigorous free press, and engaged citizens to reclaim power from those who abuse it.

In this election year unlike any other—against a backdrop of a pandemic, an economic crisis, racial reckoning, and so much daily crazy—Mother Jones' journalism is driven by one simple question: Will America will move closer to, or further from, justice and equity in the years to come?

If you're able to, please join us in this mission with a donation today. Our reporting right now is focused on voting rights and election security, corruption, disinformation, racial and gender equity, and the climate crisis. We can’t do it without the support of readers like you, and we need to give it everything we've got between now and November. Thank you.

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