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

To: russwinter who wrote (75365)	12/12/2006 8:18:07 AM
From: andiron	Respond to of 110194

come on winter, not everyone ties ALL their money like you did. I pay online a week in advance...no problemo and at least i get 1% (they say UPTO 5%!) back on my expenses.

To: russwinter who wrote (75365)	12/12/2006 8:22:56 AM
From: aknahow	Read Replies (2) \| Respond to of 110194

Chase also keeps sending small checks in the mail with small print disclosures that deposit of same means acceptance of an insurance plan that covers ones card payments when disabled. They probably send to all holders but the ones most apt to fall for it are older people. The concept of disability insurance for credit card payments is interesting. Speaks to the size of balances and minimum monthly payments that could not be met if one was disabled??

To: russwinter who wrote (75365)	12/12/2006 9:16:35 AM
From: Crimson Ghost	Read Replies (1) \| Respond to of 110194

Some of these credit card outfits make old style loan sharks look good. I don't have the statistics in front of me but I do recall seeing reports that fees of various types account for a steeply rising proportion of bank earnings. Steadily reducing "grace periods" is a major factor behind this surge of fee income.

To: russwinter who wrote (75365)	12/12/2006 1:44:32 PM
From: benwood	Respond to of 110194

Russ, if you look at your card agreement's fine print, you will probably see that the actual due date is the specified date in your statement, but at 10 AM Eastern time. Lots of people get their payment in on the correct day, even doing so online, but get nailed. And of course, most have crammed universal default down our throats, so you'd see repercussions elsewhere, even on your auto insurance bill. I have all my credit cards on auto pay now, plus my power and utility/water bills. My auto pay (through Bill Pay) for Macy's cannot be set to the full amount but instead only the minimum, but at least I avoid late fees if I forget. And it's easy to log on and up the minimum payment to the full payment. When I tried to get autopay set up for one card (which I think was a Chase, come to think of it), it was a real hassle involving phone calls and finally them mailing me a xeroxed form. It was truly pathetic. But I still got it set up.