Man it’s been a tough year for romance in our little neighborhood. Shortly after my neighbor announced he was dumping the Tea Party, I’ve found myself going through a divorce, of sorts, myself.
Back in the day, as we old-timers like to say because we’ve lived through so many and no longer remember the one to which we’re referring, I loved me some Bank of America. I could roam the country doing my military thing and they were right there with me – so far ahead of the game of online services with ATMs and branches dotting practically every backwater between Boston to L.A. It was a mistress that secretly cared for my one true and first love: my money. And we hung tough through the tough times - that BofA, my money and me – right up until this whole debit card debacle.
I’m sure that given my highfalutin words and egghead ideas, y’all have figured me for an arugula-eating, Starbucks-swilling elitist with north of 20 grand squirreled away … someone who wouldn’t have to pay or even be bothered about a $60 annual fee. Truth is, I’m way south of that sort of yacht-cruising, jet-setting, trust fund baby lifestyle. I feel your disappointment.
I never felt more fickle than I did that day I saw the sign at a local credit union and lost my heart. My new love interest wasn’t going to try to split me from my main love; instead, they were going to celebrate our love by paying me each time I used their debit card! Suddenly, I no longer felt dirty for dumping Mistress BofA despite our many years together.
As apparently is the case with many a jilted paramour, she begged for a second chance ... as if one could forget her broken, lying promises of the past.
Then I heard those Occupy Wall Street hippy sympathizers started suggesting we all walk away from our Too Big To Fail (TBTF) banks on November 5. I’m all for that but, let me tell you, it’s not as easy as it sounds. Breaking up really is hard to do sometimes, so if you’re planning to join the mass exodus, get your affairs (I blush) in order.
First, if you’ve managed to snag yourself a credit card with a great annual rate and tons of borrowing power attached, search around for a similar or better rate, as a lot of folks got hit hard in the FICO recently. Then again, if your TBTF card has a crappy rate with a ton of fees loading it down, you may actually do better at a credit union. Don’t wait until the last minute, though, and do some serious research well in advance. (Be sure to look around the house and find your reading glasses so you don’t miss the fine print.)
Second, if you, like me, have gotten spoiled rotten with easy online banking, the local credit union might not be up to speed on all the latest trends on the series of tubes. Take the demo and ask lots of questions about how e-bills are delivered or even if they can be. You may wind up going to individual payee sites to change your billing method (unless you’re cool with getting those tree parts delivered by Mr. Mailman).
Finally, drop by and chat with a teller or service rep. Don’t be scared … ‘cause most of these quirky little places don’t even charge you for the visit! And some even offer refreshments in the lobby. Can you imagine?
Crossposted from Blogistan Polytechnic Institute (BPICampus.com)