Originally Posted by Discuss Thrower:
I mean I know about churning but they'd already put the kibosh on those types of account holders by looking at their prior applications.
I don't have any deep knowledge on the topic. I heard about this a month or so ago -- that banks are taking larger and larger reserves against credit card rebate obligations due to people being smarter and more efficient in "playing" the rebate game against the banks.
Originally Posted by Great Expectations:
Auto lenders are having a rough time. I imagine that credit card lenders are doing the same right now, but with less collateral.
The auto industry, more so the lending side, has been due for a serious correction for quite some time.
Trucks cost too much. Buying a basic model is damn near impossible and the terms they'll give you are WAY too long. Too many idiots only see the per month costs and roll into the next one without thinking about the length. Before they know it, they're driving a vehicle that isn't even worth paying off. It's only a matter of time before all the ignorance wads up in a ball of fire for both sides. [Reply]
Originally Posted by Amnorix:
I don't have any deep knowledge on the topic. I heard about this a month or so ago -- that banks are taking larger and larger reserves against credit card rebate obligations due to people being smarter and more efficient in "playing" the rebate game against the banks.
That's all I can tell you.
I mean had I had any idea of credit card rewards beyond "points for air travel" I would have snagged a card much earlier in life so this does make sense. [Reply]
Trade negotiators have just returned from China where the meetings on Trade were very productive. Now at meetings with me at Mar-a-Lago giving the details. In the meantime, Billions of Dollars are being paid to the United States by China in the form of Trade Tariffs!
Originally Posted by Great Expectations:
Clay should definitely do some dollar cost averaging, try and get that buy in price down to $24 so he can make some money.
lol that ain't happening
if you knew how much i sunk into this shit you would be sick [Reply]
