Envision opening your monthly statement from your credit card company and seeing they just charged you $50 because you didn't use the card to spend $2,400 over the course of the year, or, even worse, being charged for paying off your balance every month? Credit card companies are preying on people at the worst possible time. And even with the Credit Card Act going into effect next month, credit card companies continue to slap you with additional fees and charges. "Since fees represent such a cash cow for issuers, expect aggressive increases in existing fees, as well as some brand new fees on your credit cards in 2010," says Bill Hardekopf, CEO of lowcards.com (Wall Street Journal, Banks Roll Out New Check, Card Fees).

Credit card issuers collected $22.9 billion in penalty fees in 2009. You got nickeled. You got dimed. You got the screws put to you in a variety of new and painful ways. We all did. And sadly enough, Beltway "bulldogs" seem to be little match to bailed-out bankers hungry for a cash infusion now that the game has changed. "Issuers are trying to find ways to change the dynamic of the credit card market. They want to 'mainstream' annual fees," says Hardekopf. Put another way: they want to give you the shaft in a more acceptable manner to you, the shaftee. Make sense? Didn't think so. And the only way to combat it is to break up with your credit cards, save up for the things you want and buy only what you can afford (LowCards.com, Credir Card Predictions for 2010).

As credit card companies continue to exploit this so-called relationship with you by increasing fees and watering down perks, we here at SmartyPig offer real cash boosts of up to 12% from best-in-class retailers like Amazon.com, Macy's and Travelocity, and one of the highest interest rates in the country at 2.01% for the dollars you are saving for your goals. We pay you to save your money then we pay you even more when it's time to spend it. Your credit card company, on the other hand, enables you to buy more than you need, charges you an arm and leg for doing so, and then hammers you with outlandish fees when times get hardest.

Would you take this abuse from anyone else?

The SmartyPig Team
@smartypig
facebook/SmartyPig

A new customer recently shared her plot to beat the SmartyPig system. It was so genius, we had to share it.

I had heard about SmartyPig before, but when I read about the new redemption program recently I decided to check it out for myself. Holiday bills were already piling up, so I signed on for a SmartyPig savings goal to cover next year's gifts. But it was while tooling around the site, I realized I could actually "game" the system THIS CHRISTMAS by depositing money into a goal and taking it out on gift cards a few days later.

So I started a goal, deposited $500, waited for the money to clear and then loaded up on cards.

My gift list:

• Mom and Sister-$100 Macy's gift cards - I get $24 back in cash for getting them through SmartyPig
• Brother-$100 GameStop card - I get $3 back
• Dad-$100 at Sears - I get $4 back
• Niece-Baby Gap $100 Gift Card - $5 for me!

I "earned" $36 in free money and finished shopping for my family all at once! Plus, I've still got the account set up for next year's gifts, so no headaches there. I'm also opening up a spend account for the ordinary stuff I have to buy, like socks and underwear. Since I already shop at Macy's I might as well buy them there and make a profit.

We applaud the creativity! After all, our goal is to wean customers off plastic and stoke their love of saving by making the process easy, social and rewarding. If you can also get some real cash in the process, why not do that too? It sure beats paying 18% in credit card interest. Whether it's gifts this holiday, next summer's vacation, a down payment for your dream house, or regular purchases of underwear and socks, we're here to help you make it happen, and rewarding you with cash incentives for the things you want and need most.

It's the SmartyPig difference. And we always love to hear from you! Thanks!

- The SmartyPig Team