How can people protect themselves from banks and companies ruining their credit?

there must be laws against banks and companies taking people%26#039;s money through high interest rates, overdraft fees, and other bank fees. Companies are designed to rip people off and the public must do something about this.

How can people protect themselves from banks and companies ruining their credit?auto financing

Not much of a choice buddy, I fear. Credit-rating has become such a behemoth industry that the financial institutions fight tooth-and-nail for reforms in this sector, and also why would they let go the vice-like hold they have on you, when it helps them to get the maximum buck for their bang (although at some poor soul%26#039;s expense).

How can people protect themselves from banks and companies ruining their credit? loan

Banks and companies have powerful lobbyists to get laws passed that benefit them. Until our government starts listening to what the people want, this will not change. And they will not listen to what the people want until the people actually use their vote to elect someone who will.|||Sadly, if you sign up for a bank or credit card and it has notifiied you of their fees, then there is nothing you cna do. Best thing is to have just one credit card. Go with a bank recommended by friends.|||about the only thing I know to tell you is to A) write your senators and congresmen/women about your dissatisfaction with the current banking policies and see if they can%26#039;t work on changing the laws, and B) keep a close eye on your bank statements and be sure that you%26#039;re not being %26#039;ripped off%26#039;|||the law sides with the banks but if you dont want them running your life always pay in cash and try to stay off the radar|||There are laws such as the Fair Credit Reporting Act that ensure that the credit bureau reports of consumers are accurate and that they have recourse in the event that they are not. Otherwise, your only defense to bank fees is to be aware of how they are incurred and to manage your accounts responsibly.|||The answer to this is to have self control. Don%26#039;t carry a balance on any bank cards and don%26#039;t write checks that you don%26#039;t have money in the bank to cover. You will find that you don%26#039;t have to pay overdraft fees if you don%26#039;t bounce checks and you don%26#039;t pay the high interest rates if you don%26#039;t have a balance carried forward. It is that simple.|||Don%26#039;t let them have your money.

Pay cash for everything and there will be no long term interest.

Your credit can only be ruined if you are buying things you cannot afford to pay for. If you are paying everything off, then the banks will only try to offer you MORE credit, not take it away.|||You have to be smarter than they are. Instead of whining about it, do something about the problem. There are ways to rip off credit card companies and banks, legally. Im not going to tell you, you will have to find out yourself. Or you can pay me some money, Im tired of giving out free information, you%26#039;d think we were are communists.|||If you pay within the grace period your interest rates are exactly ZERO.

Also, most banks don%26#039;t have any fees.

If you are banking with a bank with lots of fees just close that account and move to other bank.

I have been using Wells Fargo for decades and I have never paid a cent in fees.

Top 4 Answerer in Business %26amp; Finance. (Vote for me)