Comments on: AMEX Raises interest rate on British Airways Credit Cards to 46% http://www.dvorak.org/blog/2009/01/09/amex-raises-interest-rate-on-british-airways-credit-cards-to-46/ General interest observations and true web-log. Sat, 21 Nov 2009 15:27:13 -0800 http://wordpress.org/?v=2.8.6 hourly 1 By: Mister Mustard http://www.dvorak.org/blog/2009/01/09/amex-raises-interest-rate-on-british-airways-credit-cards-to-46/comment-page-1/#comment-1468850 Mister Mustard Sat, 10 Jan 2009 21:06:57 +0000 http://www.dvorak.org/blog/?p=36322#comment-1468850 #23 - Deborah Hey! Got any hot deals on term life insurance, baby? <span style="font-size: 14px; font-family: arial, helvetica"><i><b>[She sneaked one in, but she's gone now. - ed.]</b></i></span> #23 – Deborah

Hey! Got any hot deals on term life insurance, baby?

[She sneaked one in, but she's gone now. - ed.]

]]> By: Rick Cain http://www.dvorak.org/blog/2009/01/09/amex-raises-interest-rate-on-british-airways-credit-cards-to-46/comment-page-1/#comment-1468828 Rick Cain Sat, 10 Jan 2009 19:51:20 +0000 http://www.dvorak.org/blog/?p=36322#comment-1468828 There is need to even have a credit card. There is need to even have a credit card.

]]> By: deowll http://www.dvorak.org/blog/2009/01/09/amex-raises-interest-rate-on-british-airways-credit-cards-to-46/comment-page-1/#comment-1468747 deowll Sat, 10 Jan 2009 16:46:55 +0000 http://www.dvorak.org/blog/?p=36322#comment-1468747 What is wrong with people that would even consider taking on of those cards as a gift? Burn the darn thing! These people are enough to give loan sharks a good name! What is wrong with people that would even consider taking on of those cards as a gift?

Burn the darn thing!

These people are enough to give loan sharks a good name!

]]> By: Named http://www.dvorak.org/blog/2009/01/09/amex-raises-interest-rate-on-british-airways-credit-cards-to-46/comment-page-1/#comment-1468661 Named Sat, 10 Jan 2009 11:45:44 +0000 http://www.dvorak.org/blog/?p=36322#comment-1468661 9, 22, Not my own personal experience, but my dads. He wasn't a rich dude. It was just a long time ago (he's reaching 80 soon *knock on wood*). As for the 20% down thingy... In Soviet Cannuckistan you CANNOT get a mortgage if your debt ratio is too high. On top of that, if you don't have 25% for a down payment, you MUST get CMHC (Canada Mortgage Housing Corporation) insurance for the mortgage. CMHC is a crown corporation. Interesting stuff for the freedom loving, freedom shootin' 'Mericans, no? 9,
22,

Not my own personal experience, but my dads. He wasn’t a rich dude. It was just a long time ago (he’s reaching 80 soon *knock on wood*).

As for the 20% down thingy… In Soviet Cannuckistan you CANNOT get a mortgage if your debt ratio is too high. On top of that, if you don’t have 25% for a down payment, you MUST get CMHC (Canada Mortgage Housing Corporation) insurance for the mortgage. CMHC is a crown corporation. Interesting stuff for the freedom loving, freedom shootin’ ‘Mericans, no?

]]> By: Mister Mustard http://www.dvorak.org/blog/2009/01/09/amex-raises-interest-rate-on-british-airways-credit-cards-to-46/comment-page-1/#comment-1468450 Mister Mustard Sat, 10 Jan 2009 02:08:25 +0000 http://www.dvorak.org/blog/?p=36322#comment-1468450 #9 - Thermo >>There was a time when people would actually >>save their money for YEARS in order to buy a >>home. Who? Liberace? Wayne Newton? The Rockefellers? Everyone I know who bought a house "back in the day" saved for YEARS to build up a 20% down payment, then got a mortgage for the rest. Then the predators discovered ways to sucker in people without a pot to piss in with low- or no-downpayments ARMS, bundled them into CDOs, sold them off to somebody in Timbuktu who insured the nonsensical derivatives with credit default swaps, and next thing you know, we've got a meltdown. #9 – Thermo

>>There was a time when people would actually
>>save their money for YEARS in order to buy a
>>home.

Who? Liberace? Wayne Newton? The Rockefellers?

Everyone I know who bought a house “back in the day” saved for YEARS to build up a 20% down payment, then got a mortgage for the rest.

Then the predators discovered ways to sucker in people without a pot to piss in with low- or no-downpayments ARMS, bundled them into CDOs, sold them off to somebody in Timbuktu who insured the nonsensical derivatives with credit default swaps, and next thing you know, we’ve got a meltdown.

]]> By: Greg Allen http://www.dvorak.org/blog/2009/01/09/amex-raises-interest-rate-on-british-airways-credit-cards-to-46/comment-page-1/#comment-1468437 Greg Allen Sat, 10 Jan 2009 01:53:14 +0000 http://www.dvorak.org/blog/?p=36322#comment-1468437 The Feds are practically giving away money for free, so how come my credit card rates are still usurious? The Feds are practically giving away money for free, so how come my credit card rates are still usurious?

]]> By: noname http://www.dvorak.org/blog/2009/01/09/amex-raises-interest-rate-on-british-airways-credit-cards-to-46/comment-page-1/#comment-1468430 noname Sat, 10 Jan 2009 01:44:30 +0000 http://www.dvorak.org/blog/?p=36322#comment-1468430 # 4 Jim AMEN! But do you think congress will honestly represent the interest of their constituent citizens or will they represent their biggest donors? # 4 Jim

AMEN!

But do you think congress will honestly represent the interest of their constituent citizens or will they represent their biggest donors?

]]> By: Ranger007 http://www.dvorak.org/blog/2009/01/09/amex-raises-interest-rate-on-british-airways-credit-cards-to-46/comment-page-1/#comment-1468336 Ranger007 Fri, 09 Jan 2009 23:02:31 +0000 http://www.dvorak.org/blog/?p=36322#comment-1468336 # 14 Jetfire said "Usury Laws are still in effect and still enforced." I really didn't know that anyone knew the meaning of the word "usury" anymore, what with payday loans and more.... # 14 Jetfire said

“Usury Laws are still in effect and still enforced.”

I really didn’t know that anyone knew the meaning of the word “usury” anymore, what with payday loans and more….

]]> By: Thom http://www.dvorak.org/blog/2009/01/09/amex-raises-interest-rate-on-british-airways-credit-cards-to-46/comment-page-1/#comment-1468323 Thom Fri, 09 Jan 2009 22:33:51 +0000 http://www.dvorak.org/blog/?p=36322#comment-1468323 #16. Um...no #16. Um…no

]]> By: dbg http://www.dvorak.org/blog/2009/01/09/amex-raises-interest-rate-on-british-airways-credit-cards-to-46/comment-page-1/#comment-1468312 dbg Fri, 09 Jan 2009 22:10:54 +0000 http://www.dvorak.org/blog/?p=36322#comment-1468312 "The Amex rate was sent soaring from 36.6 per cent to 46 per cent because the issuer increased the annual charge paid by customers from £120 to £150." Translation: "You have to pay more for the card. To compensate for this, we're going to charge more interest." Does this make ANY sense WHATSOEVER???? “The Amex rate was sent soaring from 36.6 per cent to 46 per cent because the issuer increased the annual charge paid by customers from £120 to £150.”

Translation:

“You have to pay more for the card. To compensate for this, we’re going to charge more interest.”

Does this make ANY sense WHATSOEVER????

]]> By: Jetfire http://www.dvorak.org/blog/2009/01/09/amex-raises-interest-rate-on-british-airways-credit-cards-to-46/comment-page-1/#comment-1468303 Jetfire Fri, 09 Jan 2009 21:50:06 +0000 http://www.dvorak.org/blog/?p=36322#comment-1468303 #11 also see what #13 GF said that's where I saw the history of Credit cards I'm talking about but forgot where. It's a good video. Thanks for the link GF. #11 also see what #13 GF said that’s where I saw the history of Credit cards I’m talking about but forgot where. It’s a good video. Thanks for the link GF.

]]> By: Jetfire http://www.dvorak.org/blog/2009/01/09/amex-raises-interest-rate-on-british-airways-credit-cards-to-46/comment-page-1/#comment-1468301 Jetfire Fri, 09 Jan 2009 21:46:10 +0000 http://www.dvorak.org/blog/?p=36322#comment-1468301 #11 Amex was and is not a Credit Card like Visa or MC. You always had to pay the balance at the end of the month in full or pay very high Interest rate. They make their money by charging high yearly fees and the Merchant pays a higher usage fee than Visa/MC. That's why many stores don't take it. That's why the advertise that they don't have a limit on their cards(they do but not like Visa/MC). I can go on and on how Amex is not a credit card like Visa/MC. #2 jim " maybe before the banks get any funny ideas around here, we remake usury laws to put a hard cap at 12% over the fed funds rate, no ifs, ands or buts?" Usury Laws are still in effect and still enforced. The problem is a federal court ruling that States can enforce them on company in other states (something like that). That's why all credit cards come from 1 of 2 stated. Wilmington, DE and Des Moines, IA. They have less restrictive usury laws than other states. Do you think they are going to change their Usury laws and loose all that tax money from the Credit Card companies. If I remember right they active promoted their lax usury to get the companies to build there. You need look at the history of Credit cards. Because when it first started back in the 1970's it was how banks got around high interest rates because usury laws wouldn't let them charge less and easier to get loans. So the Feds would need to fix this if they can. I forget what the court ruling actually said. #11 Amex was and is not a Credit Card like Visa or MC. You always had to pay the balance at the end of the month in full or pay very high Interest rate. They make their money by charging high yearly fees and the Merchant pays a higher usage fee than Visa/MC. That’s why many stores don’t take it. That’s why the advertise that they don’t have a limit on their cards(they do but not like Visa/MC). I can go on and on how Amex is not a credit card like Visa/MC.

#2 jim ” maybe before the banks get any funny ideas around here, we remake usury laws to put a hard cap at 12% over the fed funds rate, no ifs, ands or buts?”
Usury Laws are still in effect and still enforced. The problem is a federal court ruling that States can enforce them on company in other states (something like that). That’s why all credit cards come from 1 of 2 stated. Wilmington, DE and Des Moines, IA. They have less restrictive usury laws than other states. Do you think they are going to change their Usury laws and loose all that tax money from the Credit Card companies. If I remember right they active promoted their lax usury to get the companies to build there. You need look at the history of Credit cards. Because when it first started back in the 1970’s it was how banks got around high interest rates because usury laws wouldn’t let them charge less and easier to get loans.
So the Feds would need to fix this if they can. I forget what the court ruling actually said.

]]> By: GF http://www.dvorak.org/blog/2009/01/09/amex-raises-interest-rate-on-british-airways-credit-cards-to-46/comment-page-1/#comment-1468285 GF Fri, 09 Jan 2009 21:21:57 +0000 http://www.dvorak.org/blog/?p=36322#comment-1468285 First, AMEX does have credit cards. Second, there is no rate limit if the company has it's offices in North Dakota or Delaware. Check out 'Eight things a credit card user should know' from PBS Frontline : http://tinyurl.com/55ad8 It should scare the crap out of you. First, AMEX does have credit cards. Second, there is no rate limit if the company has it’s offices in North Dakota or Delaware. Check out ‘Eight things a credit card user should know’ from PBS Frontline : http://tinyurl.com/55ad8

It should scare the crap out of you.

]]> By: jccalhoun http://www.dvorak.org/blog/2009/01/09/amex-raises-interest-rate-on-british-airways-credit-cards-to-46/comment-page-1/#comment-1468283 jccalhoun Fri, 09 Jan 2009 21:21:37 +0000 http://www.dvorak.org/blog/?p=36322#comment-1468283 #10 that was true like a decade or more ago but they have several real credit cards like the "blue" one. I pay my card off every month so the interest rate doesn't really matter to me. #10 that was true like a decade or more ago but they have several real credit cards like the “blue” one.

I pay my card off every month so the interest rate doesn’t really matter to me.

]]> By: Thom http://www.dvorak.org/blog/2009/01/09/amex-raises-interest-rate-on-british-airways-credit-cards-to-46/comment-page-1/#comment-1468277 Thom Fri, 09 Jan 2009 21:13:31 +0000 http://www.dvorak.org/blog/?p=36322#comment-1468277 #10, Google "Is Amex credit card", and tell me what it says....form the amex website...... #10, Google “Is Amex credit card”, and tell me what it says….form the amex website……

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