Daily PUMA Column - Commentary by Alessandro Machi

Sunday, September 10, 2017

Support the Change dot org Petition asking Credit Card Companies not to charge interest on Natural Disaster Donations made by their own customers in good standing.

Please sign the Change dot org petition asking the credit card companies to not charge interest on donations made by their customers in good standing. The Petition Results will be sent to the Clinton Foundation and Hillary Clinton so they can negotiate with the Credit Card Companies.

It is difficult to know for sure how much the credit card companies will ultimately profit from the Hurricane Harvey Natural Disaster and other Natural Disasters occurring as this is being written but it could be anywhere from 10% to 50% equivalent amount as to what is being donated over the span of the next five years.

Even if someone uses a debit card instead of a credit card, if that same person has any kind of credit card or student loan debt than their Natural Disaster donation still creates interest rate charges on the other debt that was ignored in favor of making a payment to a Natural Disaster cause instead.

This is really a serious issue. Imagine that 20 billion dollars is raised in donations, and that 10 billion came via credit card donations.  Five years from now that 10 billion dollars might end up generating another 5 billion dollars in interest rate charges for the credit card companies.



Please consider signing the Debt Neutrality Petition by clicking here.

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