tag:blogger.com,1999:blog-11211639.post2657651341552708863..comments2024-02-21T12:11:32.886-05:00Comments on Bats Left/Throws Right: Sometimes You Could Almost Get The Impression That Some People Are Only In It For ThemselvesJames Briggs Stratton "Doghouse" Rileyhttp://www.blogger.com/profile/05378802364709433791noreply@blogger.comBlogger8125tag:blogger.com,1999:blog-11211639.post-29861437120104264662009-05-21T03:38:37.306-04:002009-05-21T03:38:37.306-04:00Awww, the poor credit card companies; let us all s...Awww, the poor credit card companies; let us all shed bitter tears. They make money even if you pay your balance in full every month! To the tune of about 3 percent! How? If you use your credit card to buy $49.95 worth of Chinese-made, lead-containing, cheap plastic crap from your local merchant, said merchant gets reimbursed $48.45 and the clearing house (Visa, MasterCard) and the bank get to Colin Escherichnoreply@blogger.comtag:blogger.com,1999:blog-11211639.post-53483329677231245592009-05-20T10:17:47.976-04:002009-05-20T10:17:47.976-04:00A credit card rate of 16% seems sensible when the ...A credit card rate of 16% seems sensible when the Fed Funds rate is somewhere around, say 10%, a nice 60% profit for the banks for doing practically nothing. A credit card rate over 20% when even the Fed discount rate is somewhere between zero and a five-place decimal is an insane subsidy for mansion construction on the north shore of Long Island. I was also about to mention that article on R. Porrofattonoreply@blogger.comtag:blogger.com,1999:blog-11211639.post-51373200759539727152009-05-20T09:42:49.075-04:002009-05-20T09:42:49.075-04:00I'm exactly the kind of person who needs this legi...I'm exactly the kind of person who needs this legislation (and more like it). I was a deadbeat until a period out of work left me with choices like no heat, or heating oil on the credit card. One trick I particularly like is the shifting due date - an account that has always closed on the 25th suddenly closes on the 18th and Hah hah! Loser! You get socked with a late fee and a rate hike. I've Rugosahttps://www.blogger.com/profile/04348056243298249939noreply@blogger.comtag:blogger.com,1999:blog-11211639.post-23503633217866944942009-05-20T09:19:07.654-04:002009-05-20T09:19:07.654-04:00Thomas Geoghegan had an excellent analysis in Harp...Thomas Geoghegan had an excellent analysis in Harper's on this subject, available at this URL:<br /><br />http://harpers.org/archive/2009/04/0082450<br /><br />I enjoyed his reasoning and almost found it persuasive. Highly recommended.<br /><br />my word verification was revers and I'd expect Doghouse to be able to spell 'The Reivers' correctly.a different mikeynoreply@blogger.comtag:blogger.com,1999:blog-11211639.post-76463773719766821432009-05-20T09:18:10.868-04:002009-05-20T09:18:10.868-04:00the time required to print and mail a bill will ex...<I>the time required to print and mail a bill will exceed the billing period....</I>Ah, my cable company has already accomplished this. Even more time-warping is the fact that the cable company bills a month in advance.Grace Nearinghttp://scriptoids.blogspot.comnoreply@blogger.comtag:blogger.com,1999:blog-11211639.post-76398620454668181512009-05-20T07:14:06.669-04:002009-05-20T07:14:06.669-04:00My recollection from a Frontline episode was that ...My recollection from a Frontline episode was that there was a Supreme Court decision in the late 70s, maybe early 80s, that decided if a credit card company was doing business in a state and signed up a customer in another state, the credit card's state laws could govern the agreement. From there, it was a race to the bottom as states tried to get credit card banks to locate in their area, and Doughttps://www.blogger.com/profile/11424730556609713021noreply@blogger.comtag:blogger.com,1999:blog-11211639.post-60018370963920709652009-05-19T23:44:26.581-04:002009-05-19T23:44:26.581-04:00Those poor bastards...next thing you know they mig...Those poor bastards...next thing you know they might have to reduce interest rates on savings to one half of one percent. What? They already have? I'll take mine in cash, please.Uncle Omarnoreply@blogger.comtag:blogger.com,1999:blog-11211639.post-15723801122428657202009-05-19T19:48:43.373-04:002009-05-19T19:48:43.373-04:00Booberry. Best. Cereal. Ever.
I almost shed a te...Booberry. Best. Cereal. Ever.<br /><br />I almost shed a tear for Big Credit, until your rant snapped me back to reality.Edward_Blumhttps://www.blogger.com/profile/10342977357264624828noreply@blogger.com