nytimes.com - 5/19/2009
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Credit cards have long been a very good deal for people who pay their bills on time and in full. Even as card companies imposed punitive fees and penalties on those late with their payments, the best customers racked up cash-back rewards, frequent-flier miles and other perks in recent years. Now ...
nytimes.com - 5/14/2009
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nytimes.com —
RIO RANCHO, N.M. President Obama stepped up
his populist campaign against the credit card industry on...
Thursday, pressing Congress to pass new limits on “anytime, any-reason rate hikes,” unfair late fees and misleading policies. As the Senate ...
(more)
Obama Seeks Action Against Credit Card Industry
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Credit Card Changes: Make the Prudent Pay
Calculated Risk —
From the NY Times: Overhaul Likely for Credit Cards Banks are expected to look at reviving annual fees, curtailing cash-back and other rewards programs and charging interest immediately on a purchase instead of allowing a grace period of weeks, according to bank officials and trade groups. “It will be a different business,” said Edward L. Yingling, the chief executive of the American Bankers Association, which has been lobbying Congress for more lenient legislation on behalf of the nation’s biggest banks. “Those that manage their credit well will in some ...
Credit Card Fees
Across the Curve —
I find this story amazing. Apparently those with pristine credit histories will subsidize those with a checkered record.
I stand by a statement I made here a few weeks ago when I offered a modest Swiftian proposal. The gene pool should be protected and anyone who carries a credit card balance and pays interest on that balance should be sterilized!!
I have to believe that step will protect the species from serious harm.
...
cut 'em up
Decline and Fall of Western Civilization —
via calculated risk and the new york times: Credit cards have long been a very good deal for people who pay their bills on time and in full. Even as card companies imposed punitive fees and penalties on those late with their payments, the best customers racked up cash-back rewards, frequent-flier miles and other perks in recent years. Now Congress is moving to limit the penalties on riskier borrowers, who have become a prime source of billions of dollars in fee revenue for the industry. And to make up for lost income, the card companies are going ...
R.I.P. Free Credit
Minyanville —
Remember the good old days? Back when you and the credit crunch were young, and only those"subprime" people over on the other side of town -- you know, the ones living wildly beyond their means, dependent on credit for the very necessities of life -- had to deal with the harsh reality of life without free and easy credit? Those happier times are long since passed, as the malaise continues to seep its way up the economic spectrum. Now, even the most creditworthy consumers who haven't missed a payment in years are seeing credit lines cut, interest rates raised and finding it increasingly difficult to get a mortgage. They'd better get used to it - the free ...
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Credit Card Changes: Make the Prudent Pay
calculatedriskblog.com 5/19/2009 — From the NY Times: Overhaul Likely for Credit Cards Banks are expected to look at reviving annual fees, curtailing cash-back and other rewards programs and charging interest immediately on a purchase instead of allowing a grace period of weeks, ...
Dividend Payer's Return Lags Non Payers
disciplinedinvesting.blogspot.com 10/3/2009 — As of the end of September, the return for the dividend payers in the S&P 500 Index continues to badly trail the return of the non payers. On a year to date basis, the payers' return equals 17.55% versus the non payers' return of 56.70%. The ...
Video: Credit card controversy
marketnewslive.blogspot.com 4/23/2009 — High credit card fees are coming under fire in Washington but banks say they need to price in risk.
Credit Card Offers for Bad Credit
moneyning.com 4/6/2009 — I’ve always thought that credit cards are only evil if you let it. Sure, the interest rates may be ultra high but if you use it responsibly, there is no reason why even bad credit credit cards can’t be good. The key of course is just to pay it off everyday.
Bad credit offers, ...
The Credit Card Death Spiral
hf-implode.com 5/14/2009 — " The stress tests are done. The results were so-so. Financials are up.
Unfortunately, foreclosures are still climbing, credit card defaults are growing and could out-pace unemployment, and no one knows how to value toxic assets.
But the bank crisis has been solved! "
Credit Card Applications: Apply for Credit Cards at Credit-Land.com
credit-land.com 5/30/2009 — This website offers up-to-date information on online banks' applications that you can trust. Whether you have great payment history, or if your score is not so good, you can apply for a credit card that is right for you. You will find information and ...
10 Things You May Not Know About Your Credit Card
ratenerd.com 6/20/2009 — Unknown to most of us, the credit cards in our wallets offer hidden benefits and secret perks that you may not be aware of, which go well beyond frequent flyer miles. Some special offers are listed in the fine print of your credit card agreement, and many others aren’t public knowledge at all.
Cash Back Credit Card: Schwab Bank: Visa? Credit Card
schwab.com 12/4/2008 — 1. For information about rates, fees, other costs and benefits associated with the use of this credit card, please see Terms and Conditions . 2. The no-preset-spending-limit feature applies only to Visa Signature transactions and does not mean that ...
Smithfield: Our Pigs Are Clear —
The Big Money 5/15/2009
Late Thursday, Smithfield Foods announced that no swine flu was found among the pigs at its operations in Mexico.
Once again using what seems to be his favored mode of communication with the public—a " letter to employees "—Smithfield CEO C. ...
A Composite Solution to Our Car Problems —
The Big Money 5/20/2009
Let me begin with a digression. For years, it was assumed that professional tennis was being radically altered by racket technology. Lighter, larger, stiffer rackets made from graphite composites were allowing players to rip the felt off the ball.
...
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