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Strategies & Market Trends : Waiting for the big Kahuna -- Ignore unavailable to you. Want to Upgrade?

To: Jumper who wrote (14560)	3/3/1998 4:38:00 PM
From: Tommaso	Respond to of 94695

But you and your peers are smart and may well be the best credit risks as well. There was an article in the WSJ the other day about how only now large numbers of credit card holders whom the banks had counted on to be shifted into much higher rates had learned to roll over into cheap introductory rates. Millions of people had been paying 15% and more without ever calculating how much the interest was costing them. They only thought about each payment as it came along. But (as I found out to my discomfort) even some of the cheap-rate cards will sting people with large late-payment fees that much exceed the posted interest rates, if you miss the three-week deadline. Probably the card I presently use would do that. But I pay it off immediately. But yes--come to think of it, the whole thing is getting more precarious because of these lower rates. Maybe as long as the banks think they can rake off a few percent more than they lose they will keep it up. Just a few days ago I was disturbed to find that my wife's bank had slipped in a $5 transfer fee for moving $100 from her ready reserve. We will have to do something about that quick. The squeeze from bankruptcies may already be taking effect if charges like that are going in.