Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: John Vosilla who wrote (43387)	10/13/2005 3:40:19 PM
From: GST	Respond to of 110194

Wow -- the thing about credit is that when your credit worthiness declines, then the cost of what credit you still have soars -- and you almost always have less credit as the cost escalates, and that it turn keeps forces you into a lower and lower class of credit worthiness. Perhaps BofA would like to help speed up the process by making it look like your credit card expenditures are actually helping you to save money -- unreal.

To: John Vosilla who wrote (43387)	10/13/2005 6:19:16 PM
From: Elroy Jetson	Respond to of 110194

I think Bank of America's new Debit Card program is trying to find a cheap way of matching "1% cash back" rewards for spending on credit cards. Bank of America rounds your Debit Card purchase up to the next whole dollar and deposit the extra amount to a savings account. They match the amounts placed into your savings account with a 5% match, after a brief initial period where the bonus is one for one. So if your average Debit Card purchase is $20, the "cash back bonus" is equal to 0.13%, or 0.03% if your average purchase is $100. In any event its a long way from offering 1% cash back, unless your average Debit Card purchase is $2.50 or less. .