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Strategies & Market Trends : Mish's Global Economic Trend Analysis -- Ignore unavailable to you. Want to Upgrade?

To: mishedlo who wrote (28592)	4/27/2005 1:15:48 AM
From: puget206	Respond to of 116555

"debt servicing costs are a record high;" Speaking of which, on the consumer level, KRB is raising the "default" rate on their cc's to even always-paying-in-full customers to about 25% rounded, and backdated (I think) to the end of the prior period. Concomitantly, what one earns in dollars to a sponsoring merchant has gone down about 50% or so by my estimation. On a risk/reward basis, having such a card probably isn't worth it, although I wonder if on a comparative basis, all the cc merchants are all doing similar draconian things.