信用卡行业
信用卡行业
Elizabeth Warren 以前我提起过的The Two-Income Trap作者,在NPR 的新鲜空气节目做了个访问,谈信用卡行业。她主要谈了很多信用卡行业为了提高利润不那么光彩的行为,很值得一听。
信用卡公司利润很小部分来自每次用户付款时商人交给信用卡公司的手续费,大部分还是对用户的收费,如迟付款费和利息。卡的合同上小字密密麻麻,很少用户会读,事实上,几乎所有合同上都有注明,他们保留随时以任何理由改变利率的权利。更有甚者,六七年前他们甚至发明了"UNIVERSIAL DEFAULT"的概念,只要你迟付了任何一个公司的应付款--比如车子的分期付款--信用卡公司就会以此为理由将你在卡的利率从正常的百分之十几一下提到百分之二十九的惩罚性利率,即使你从来没有错过这卡上的应付款项。
另一个常用技巧就是突然乱收一笔费用,三五十块,用户打电话来多抱怨几次就取消,不抱怨呢,他们就落袋为安了。
大约是因为我是中国人,从小就憎恨借贷,怎么都不能理解为什么有人会长期欠信用卡帐--付百分之十几的利息,他们晚上睡的好吗?(我也睡不好,不过是因为床垫太软)即使需要钱,有规划有目的的借一笔专款专用,有归还计划,我还能接受。这样漫无目的往卡上刷了不知道什么时候能还,然后凑和着每个月付个最低还款额的生活方式,实在觉得无法原谅。我也知道这么说,有知识分子自以为比人聪明的嫌疑,可是还是忍不住要跟广大美国人民说:花钱之前,得先做个算术。银行再说的天花乱坠,你还是得自己做算术。
信用卡公司利润很小部分来自每次用户付款时商人交给信用卡公司的手续费,大部分还是对用户的收费,如迟付款费和利息。卡的合同上小字密密麻麻,很少用户会读,事实上,几乎所有合同上都有注明,他们保留随时以任何理由改变利率的权利。更有甚者,六七年前他们甚至发明了"UNIVERSIAL DEFAULT"的概念,只要你迟付了任何一个公司的应付款--比如车子的分期付款--信用卡公司就会以此为理由将你在卡的利率从正常的百分之十几一下提到百分之二十九的惩罚性利率,即使你从来没有错过这卡上的应付款项。
另一个常用技巧就是突然乱收一笔费用,三五十块,用户打电话来多抱怨几次就取消,不抱怨呢,他们就落袋为安了。
大约是因为我是中国人,从小就憎恨借贷,怎么都不能理解为什么有人会长期欠信用卡帐--付百分之十几的利息,他们晚上睡的好吗?(我也睡不好,不过是因为床垫太软)即使需要钱,有规划有目的的借一笔专款专用,有归还计划,我还能接受。这样漫无目的往卡上刷了不知道什么时候能还,然后凑和着每个月付个最低还款额的生活方式,实在觉得无法原谅。我也知道这么说,有知识分子自以为比人聪明的嫌疑,可是还是忍不住要跟广大美国人民说:花钱之前,得先做个算术。银行再说的天花乱坠,你还是得自己做算术。
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Guess we can write books with titles like:
From "Carpe Diem" to "Live as If There's No Tomorrow"
How to Catch Up with Time and Beat It
Surfing the Timeline
Why would I want to turn back time
....
It amazes me too. I think it have something to do with sense of responsiblity. Nowadays it's very lacking, same as some general respect
From "Carpe Diem" to "Live as If There's No Tomorrow"
How to Catch Up with Time and Beat It
Surfing the Timeline
Why would I want to turn back time
....
It amazes me too. I think it have something to do with sense of responsiblity. Nowadays it's very lacking, same as some general respect
脚翘黄天宝
光吃红国宝
光吃红国宝
在这边维持过得去的生活水准并不需要太多钱,所以信用卡和借贷行业不得不挖空心思剌激人们的消费欲望。毕竟人的欲望是没有止境的,他们的危机教育又不象我们来得深刻。
我猜银行和信用卡公司在推出新产品新利率的时候都是算过有多少比例的人是彻底还不起的,把那一部分打进了成本。那些会弄到这样地步的人,信用卡业在他们身上也榨不到多少油水。
我猜银行和信用卡公司在推出新产品新利率的时候都是算过有多少比例的人是彻底还不起的,把那一部分打进了成本。那些会弄到这样地步的人,信用卡业在他们身上也榨不到多少油水。
http://harps.yculblog.com
搬家了搬家了
搬家了搬家了
Hmmm... I guess I have to remove 俭 from 勤俭持家...I can't say I am the most frugal consumer either. But I do a decent job in controlling my own impractical desires for things I can't really afford -- like a decent sunny 2-bedroom apartment in which I can grow plants? Oh well, it is not like I can sweep a card to buy that anyway.
Last edited by Knowing on 2007-03-29 10:30, edited 2 times in total.
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until payoff?
Couple months ago for the first time I was surprised to learn that some pepple actually pay annual membership (I am not talking about Dinner's Club or some citibank visa with enhanced service/coverage) on their average credit cards. I always have no doubt that the credit card companies got to pay me to use my cards on regular basis and let them reap their cut every biling cycle.
Couple months ago for the first time I was surprised to learn that some pepple actually pay annual membership (I am not talking about Dinner's Club or some citibank visa with enhanced service/coverage) on their average credit cards. I always have no doubt that the credit card companies got to pay me to use my cards on regular basis and let them reap their cut every biling cycle.
脚翘黄天宝
光吃红国宝
光吃红国宝
actually, there are several ways to earn some money from credit card company, i.e. 0% APR for one year, 0% balance tranfer (but must make sure the transfer fee is also $0), and get gift card ($50, $100 or $150 sometimes) for just apply a credit card and just use it once).
So as long as you keep good track of your credit card and know you can pay all the balance if there's anything wrong, then you'll be fine.
So as long as you keep good track of your credit card and know you can pay all the balance if there's anything wrong, then you'll be fine.
Uh... I don't think in the case of credit and lending industry, the government is involved in 拯救 anybody. In fact, the government 拯救 the credit industry by passing the new bankruptcy legislation last year which made it more difficult for people to file personal bankruptcy. And the financial sector hasn't exactly been hurting in the past decade.
When does the government ever save a small potato consumer? It spends billions of dollars bailing out United Airlines empty pension funds, giving away oil on federal land to Exxon Mobil, and pay midwest farmers for growing crops that nobody needs.
True, a lot of people go bankrupt on buying big screen TVs and Manolo shoes they can't afford. However, most people sink in the hole because they lose their jobs or, more often than not, get sick. The broken health care system kills and bankrupts more Americans than almost any vice you can think of.
When does the government ever save a small potato consumer? It spends billions of dollars bailing out United Airlines empty pension funds, giving away oil on federal land to Exxon Mobil, and pay midwest farmers for growing crops that nobody needs.
True, a lot of people go bankrupt on buying big screen TVs and Manolo shoes they can't afford. However, most people sink in the hole because they lose their jobs or, more often than not, get sick. The broken health care system kills and bankrupts more Americans than almost any vice you can think of.
Discover card has this 0% for life(until paid off) kind of deal. The catch is you have to charge more than once each month. So just enroll in some small fee service and you are safe. Less than $40 annually is a good deal. Credit card company paid me for my laptop and some other small things also. Basiclly, I'm the worst customer they can have in US
花差花差小将军 wrote:until payoff?
Couple months ago for the first time I was surprised to learn that some pepple actually pay annual membership (I am not talking about Dinner's Club or some citibank visa with enhanced service/coverage) on their average credit cards. I always have no doubt that the credit card companies got to pay me to use my cards on regular basis and let them reap their cut every biling cycle.
You are all good if everything goes according to your plan. But be careful, did you really read all the fine print? If you accidentally miss a payment or was late, they could boost your interest rate without informing you. Plus the late fee.
5,000 balance on 0% APR credit card gives you extra $20 per month on interest, if you have the money and choose to leave it in the bank instead of paying off creditcard balance. I just don't think it is worth my time to have it on my mind.
People are different in this matter. Some enjoy outsmarting the creditcard companies :). I am the type who would rather not bother at all.
5,000 balance on 0% APR credit card gives you extra $20 per month on interest, if you have the money and choose to leave it in the bank instead of paying off creditcard balance. I just don't think it is worth my time to have it on my mind.
People are different in this matter. Some enjoy outsmarting the creditcard companies :). I am the type who would rather not bother at all.
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This is absolutely true.True, a lot of people go bankrupt on buying big screen TVs and Manolo shoes they can't afford. However, most people sink in the hole because they lose their jobs or, more often than not, get sick. The broken health care system kills and bankrupts more Americans than almost any vice you can think of.
I agree that is true. But again, it comes back to the problem in <2 income trap>, why don't people prepare for raining days? Sickness and sudden unemployment, after all, are part of life that will happen according to probability. The sad answer is, they could not afford to buy health insurance or save for raining days, because they stretch every inch of their income for the american dream -- nice house in good school district.
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Talking about which, interesting article on New Yorker this week about Walmart. Walmart is apparently behind effort of Government-sponsored universal health coverage.
Those who love <Thank You For Smoking> (ok, Jun I am talking about you) should find it funny.
http://www.newyorker.com/reporting/2007 ... table=true
earlier this year Lee Scott joined Andy Stern, the leader of the Service Employees International Union, in a coalition of businesses and unions calling for quality health care to be made available to all Americans by 2012 ...Government-sponsored universal health coverage would, of course, free Wal-Mart and other companies of the burden of providing health insurance for their employees.
Those who love <Thank You For Smoking> (ok, Jun I am talking about you) should find it funny.
http://www.newyorker.com/reporting/2007 ... table=true
In another novel, Buckley devoted a chapter to the exploits of a fictional White House advance man named Leslie R. Dach.
Buckley borrowed Dach’s name from an actual Leslie Dach, who was his roommate at Yale, and who, thirty years later, remains a close friend.....Today, Dach is Wal-Mart’s executive vice-president for corporate affairs and government relations.....Dach an “idealist” who has carried to Wal-Mart his fervor for such traditional Democratic causes as universal health care and environmentalism.
a young New Yorker named David Tovar, who, before joining Wal-Mart, spent nine years as a spokesman and lobbyist for Philip Morris, including a stint arguing against government regulation of cigarettes. He explained his position: “It’s a legal product that adults can choose to use, or not use, as they see fit. I learned a lot by doing that sort of work.”
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Health care in US is bad enough if you have insurance. If you happen to be self-employed or unemployed or employed by someone like Wal-Mart or McDonalds, you'd better pray for being lucky and healthy.
You can get the same surgery and inpatient care in India that are of HIGHER quality for less than half of the same thing in USA, travel costs included.
No matter how frugal and diligent you are, one episode of serious illness can wipe out EVERYTHING you have. The health care system in this country is broken bad.
You can get the same surgery and inpatient care in India that are of HIGHER quality for less than half of the same thing in USA, travel costs included.
No matter how frugal and diligent you are, one episode of serious illness can wipe out EVERYTHING you have. The health care system in this country is broken bad.
Source: Journal of American Medical Association. Column: A Piece of My Mind.What Makes a Difference
Perry A. Klaassen, MD
Oklahoma City, Oklahoma
drklaassen@coinsaccess.org
JAMA. 2007;297:1039.
"Is your wife with you?" asked the gastroenterologist as I entered his office for my postcolonoscopy conference. With that, I knew immediately that I had colon cancer. I remember little else of what he said except that he had set up an appointment for me to see a surgeon at 1 o’clock that same Wednesday afternoon. I didn't have time to go home so I ate a light lunch and met the surgeon at the appointed time. "You have a tumor about the size of a golf ball in your colon, close to the appendix, and we’ve got to get it out of there. I think I can work you into the schedule on Friday."
I had the surgery that Friday. The tumor was removed, along with a section of the ascending colon, the appendix, and the omentum. Of the 16 lymph nodes removed, four were positive for cancer and two spots of tumor were visible on the omentum. That's why it was removed.
About three days after my surgery, the oncologist came to see me. "Since your cancer has spread beyond the colon we would have to call it stage 4, and if we want to be more optimistic we could call it stage 3. In any case, with this staging, you are eligible for a new chemotherapeutic agent along with the usual two that are given."
I had recovered from the surgery very nicely. And so nearly five weeks later a port was placed just below my left collarbone and I started chemotherapy. I was able to tolerate chemotherapy well enough to go back to work.
I received the most efficient care possible. I was 61 years old and had good group health insurance through my workplace. I was a physician in a community health center.
Several months after returning to work, I saw a patient who was my age, with abdominal pain, weight loss, and blood in her stool. She stated that several months earlier she had been admitted to a community hospital through the emergency department because of abdominal pain and weakness. In the hospital she was found to be anemic, and her upper gastrointestinal tract was examined for ulcers. None were found so she had been placed on iron and encouraged to see a gastroenterologist for a colonoscopy as an outpatient.
She supported herself by taking care of her grandchildren so her children could work. She had several children who lived nearby so this arrangement worked very well for her. She delayed making an appointment with a gastroenterologist because she had no insurance and felt she could not afford the test anyway.
A relative who happened to be a patient of mine referred the woman to the health center where I worked because we could accept her as a patient and her payment would be based on her income and the number of dependents in her household.
On examination, I found that she was anemic with significant weight loss, blood in her stool, and a mass in her left lower abdomen. I told her that I was concerned about the possibility of colon cancer and that she needed a colonoscopy as soon as possible.
The earliest appointment that could be arranged was three months later. Prior to this appointment, I saw her once more, and because her symptoms had worsened I was able to arrange an earlier colonoscopy. The biopsy revealed cancer of the colon and surgery was scheduled two weeks later. At surgery the tumor was found to have spread into the surrounding tissue and the liver. It was not possible to remove the tumor. It was definitely stage 4 colon cancer. She was offered chemotherapy but declined it. She said that she could not afford chemotherapy, it would inconvenience her family to take her for therapy, and she did not want to leave her family with a large bill. She was a woman with a strong faith in God, and this sustained her until she died about one year later.
The difference in the outcome of these two similar situations is obvious. I had good health insurance, received optimal care, and 5 years later I not only have survived, but lead a fairly normal life even though I still have cancer and have to have regular treatment. My patient had no health insurance, delayed her evaluation and treatment, and died less that two years following diagnosis of a preventable and treatable disease.
A Piece of My Mind Section Editor: Roxanne K. Young, Associate Editor.
Broken public school system is another story.The sad answer is, they could not afford to buy health insurance or save for raining days, because they stretch every inch of their income for the american dream -- nice house in good school district.
The are something fundamentally wrong with the public service system. I am a little bit skeptical on democrats since California is teribblly broken while Texas and Florida are doing better. A lot of their ideology sounds great but never works out.
I agree that public service systems in California have deficiencies. I have also heard plenty of horror stories about the bureaucracy in the federal government. Nevertheless, whether doing well or doing poorly is directly caused by a system being public or private is a questionable thing. Perhaps Calfornia is doing badly because of reasons other than public-versus-private.
For example, data have repeatedly shown that the quality and efficiency of public/government health care systems in European countries and Canada are much better than the private/market-driven health care system in US. In fact, US health care is worse than Cuba.
Are all public service systems inevitably worse than private? I don't know. I guess it depends on what industry or sector we are talking about.
However, I'm not entirely for more social welfare and government-runs-everything ideals. After all, I'd rather work for private companies than for the government. The road to hell is paved with good intentions. We've all seen plenty of socialist systems collapse to respect the power of free market.
Wal-mart is not the only business lobbying for government-sponsored universal health care. In fact the business community (minus pharma industry) have largely come to this conclusion. If US health care system continues the way it is now, soon enough most companies will move their operations elsewhere. The cost of maintaining health insurance for the workforce will be come so expensive that they can't afford to open shop in this country any more.
For example, data have repeatedly shown that the quality and efficiency of public/government health care systems in European countries and Canada are much better than the private/market-driven health care system in US. In fact, US health care is worse than Cuba.
Are all public service systems inevitably worse than private? I don't know. I guess it depends on what industry or sector we are talking about.
However, I'm not entirely for more social welfare and government-runs-everything ideals. After all, I'd rather work for private companies than for the government. The road to hell is paved with good intentions. We've all seen plenty of socialist systems collapse to respect the power of free market.
Wal-mart is not the only business lobbying for government-sponsored universal health care. In fact the business community (minus pharma industry) have largely come to this conclusion. If US health care system continues the way it is now, soon enough most companies will move their operations elsewhere. The cost of maintaining health insurance for the workforce will be come so expensive that they can't afford to open shop in this country any more.
我知道和信用卡公司打交道的大部分诀窍,实际上每个0%都晚交过,然后apr会涨,90%时候能要回0%和late fee charge,一个电话就搞定了。搞不定就立刻全部付清,反正钱是在银行生利息的。恩,我借的0%比5000要多很多,所以还是值得的。原来当学生的时候时间比较多,现在已经建立了系统,到时候自动付minimum,不用操心的。
Knowing wrote:You are all good if everything goes according to your plan. But be careful, did you really read all the fine print? If you accidentally miss a payment or was late, they could boost your interest rate without informing you. Plus the late fee.
5,000 balance on 0% APR credit card gives you extra $20 per month on interest, if you have the money and choose to leave it in the bank instead of paying off creditcard balance. I just don't think it is worth my time to have it on my mind.
People are different in this matter. Some enjoy outsmarting the creditcard companies :). I am the type who would rather not bother at all.
什么卡可以永远0 apr ? 我觉的一般都是头一年半年0apr.后来就涨上去的。如果你是把欠账转过去,一般都得收3% 的手续费。如果是在那张卡上支出累计高上去,一年半年,刚累计到几千块就该收利息了。太大宗的消费,车子房租之类,一般都不收信用卡。除非你有工作上的旅行旅馆支出可以走信用卡。
美国普通民众,在没有危机(医疗,失业)的正常状态下,每年在信用卡利息上平均支出是一千五,一有危机,就是好几千。WARREN 说,一般人为什么会欠钱?并不是买奢侈品。大部分是月底钱不够,用信用卡先对付着买,但是下个月钱还是不够,就渐渐累计起来了。我就不明白,他们生活就没有预算么?月月钱不够,显然应该调整生活习惯,把一些固定开支砍一砍,总不能赚一千按一千花,按八百花才行啊。
美国普通民众,在没有危机(医疗,失业)的正常状态下,每年在信用卡利息上平均支出是一千五,一有危机,就是好几千。WARREN 说,一般人为什么会欠钱?并不是买奢侈品。大部分是月底钱不够,用信用卡先对付着买,但是下个月钱还是不够,就渐渐累计起来了。我就不明白,他们生活就没有预算么?月月钱不够,显然应该调整生活习惯,把一些固定开支砍一砍,总不能赚一千按一千花,按八百花才行啊。
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Discover 0%呀,当年寄到我家的, 都还了快三年了。现在很多blance transfer不收手续费的。还可以用寄来blance transfer check 直接存进自己银行里。反正信用卡公司利用各种手段吸引你,至于那些小花样升利息的,小心就是了。原来交学费的时候用信用卡,一下就上万了。
美国普通民众数学普遍不够好到能理财的地步,所以信用卡公司才有钱赚。主要是大部分人不知道自己挣多少和花多少。记得Everybody loves Raymond 里有一集Raymond自己逞能代替老婆做她头疼的帐付账单,结果根本不会,家里连电都断掉了。其实挺有代表性的。
美国普通民众数学普遍不够好到能理财的地步,所以信用卡公司才有钱赚。主要是大部分人不知道自己挣多少和花多少。记得Everybody loves Raymond 里有一集Raymond自己逞能代替老婆做她头疼的帐付账单,结果根本不会,家里连电都断掉了。其实挺有代表性的。
Knowing wrote:什么卡可以永远0 apr ? 我觉的一般都是头一年半年0apr.后来就涨上去的。如果你是把欠账转过去,一般都得收3% 的手续费。如果是在那张卡上支出累计高上去,一年半年,刚累计到几千块就该收利息了。太大宗的消费,车子房租之类,一般都不收信用卡。除非你有工作上的旅行旅馆支出可以走信用卡。
美国普通民众,在没有危机(医疗,失业)的正常状态下,每年在信用卡利息上平均支出是一千五,一有危机,就是好几千。WARREN 说,一般人为什么会欠钱?并不是买奢侈品。大部分是月底钱不够,用信用卡先对付着买,但是下个月钱还是不够,就渐渐累计起来了。我就不明白,他们生活就没有预算么?月月钱不够,显然应该调整生活习惯,把一些固定开支砍一砍,总不能赚一千按一千花,按八百花才行啊。
Camellia is the credit card industry's worst nightmare!
I read the New Yorker article. Very interesting, but not too surprising. There really is no such thing as core principles of Democratic activism any more. There is also no such thing as core principles of Republican fiscal responsibility and personal freedom either. All flag-waving lies to fool the voting constituents.
I read the New Yorker article. Very interesting, but not too surprising. There really is no such thing as core principles of Democratic activism any more. There is also no such thing as core principles of Republican fiscal responsibility and personal freedom either. All flag-waving lies to fool the voting constituents.