I’ve had a credit card with a major bank for the past 9 years.  It was the first credit card I applied for in college and the APR rate at the time, 10.99% seemed like a lot.

About a month ago I called in because of a mistake in paying off the remaining balance of the card.  The gentleman on the line was very nice and professional, but there is something even deeper and more disturbing about our conversation that was not reflected by this man’s attitude and demeanor as he helped me fix my problem.

You see, I had also recently received a letter from the company that told me they were raising my APR rates to 23.99% from the current level which was 19.99%. The frustration was and is that I have been a member or have a credit card with this company for the last nine years, I have good credit, my payments get sent in on time. High credit rates above 20% are supposed to be for people who don’t have good credit, don’t turn in their bills on time, how bad payment histories; not people like me. I hadn’t done anything wrong, in fact, the card had been paid off.

When I called in to request a lower rate and to find out what had happened I was told that ‘In order for the bank to remain healthy (they) had to charge a higher rate.’  I was fortunate to be able to cancel the account since there was no balance, but I feel for the people that still have a balance that will be effected with these new higher rates.  I’ve heard this behavior described before as predatory lending.

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One of the discussions that I have heard many times in the conversation about finding funding for a start-up is whether or not to allow Venture Capital.  Why the debate?  Well, did you know that a Venture Capitalist typically puts money into a company with the expectation of receiving 10x that amount back in five years.

The way this breaks down would look like a 58% APR.  These high rates are such because the Venture Capitalist is taking a gamble since more start-up ventures fail than succeed.  In order to continue investing they have to have a bigger payout.

The debate also arises because this is a lot of money and can be considered by some to be excessive.  When the potential payoff is big, the excess and ability to get one’s idea off the ground can definitely make it worthwhile for an entrepreneur to choose to take the money and the benefit and success that it can bring.

I would like to point out that a 23.99%APR is nearly half the rate that a VC would expect.  Also, a credit card balance is not paid off in 5 years making minimum payments, making me wonder if the credit card company is making more in the long run than a Venture Capitalist with no benefit to the person receiving the money.

I don’t believe its fair for people to be responsible for keeping the profits of a credit card company healthy and I will no longer be supporting their health with my money.  I am grateful that I am privileged enough to not  have to remain in their debt and I hope that those beholden to this derelict system will be assisted before their living situations gets worse.

This festival in celebration of an alum know by some as the stinking rose, avoided by those who seek to kiss their sweetheart, and banned from those on a sattvic diet because of its disruption of meditation practices and invigoration of the central nervous system occurs every October in Orange, Massachussets.

The Garlic and Arts fest is one of my favorite times of the year.  Occurring in the fall right around the time of the garlic harvest and replanting for the following year, this festival is jam packed with local foods, arts, music, handicrafts, and stinky breath.

Why does supporting local businesses at the Garlic fest matter?  Well without the numerous vendors peppered all over the lawn, the garlic and arts festival would not likely happen.  Many come to get maple sugar cotton candy – for which the line is always long – art, locally grown foods to bring home, and handicrafts.

While I was expecting the garlic ice cream to taste like garlic my first bite into the pungent coldness still shocked me.  ‘It tastes like garlic!’ I exclaimed causing my friends around me to crack up. For me, this novelty item was great to try once and certainly left me with the flavor of the event rolling around my tongue.

It is festivals like this that allow for a region to develop and celebrate its own flavor and feel at the end of a successful season.  Not only can fairs like this help people to feel more tied to their community, they give people something to look forward to every year, they also have the potential to increase tourism and local revenue in a way that an amusement park can’t touch because the ownership is local and spread out amongst many beneficiaries.

So if you are ever in Western Massachusetts in October, make it a point to visit Orange for the North Quabbin Garlic and Arts Festival and check out part of what makes us special.

This post is also viewable on iTeachToo.com through this link.

Looking to teach more about sustainability, renewable energy, or another cool hip topic that you just don’t feel you know enough about?  Well first, don’t forget, you don’t have to know everything.  That’s the great thing about allowing students to go out and find the information about what interests them.

But if you are hoping to at least make an introduction to new topics in the classroom, check out your favorite non-profit to see if they provide free curriculum, games or lesson plans.  So many have begun to develop these services, it would be a shame not to take advantage of it.  Who better to hear about issues from than the experts?

For ease here are a few examples:

Oxfam Cool Planet for Teachers

Northeast Sustainable Energy Association

This post is also viewable on iTeachToo.com through this link.