Friday, May 22, 2009

Most credit cards not managed by local banks

http://www.recordonline.com/apps/pbcs.dll/article?AID=/20090520/BIZ/905200361


This article is about how wrong some of us are regarding our credit cards. Most of us believe that the name of th bank on the front of our cards are the ones that gives us the credit but the true is that they dont, the ones who gives us the credit limit and late fees are larger firms who are the ones that managed most small banks and many large ones. I choose this article because the title cought my attention. Im surprise with this. I never thought of this at all. Therefore is hard to say if I agree or not. It is fairly presented because this is something new for me. Yes I will used this news source again.

2 comments:

  1. this is why i will wait 2 own a credit card. to much 2 worry about...i like ur article.

    ReplyDelete
  2. Kensy, I was surprised by this, too. The problem is when large, far-away companies make decisions they don't take the people paying into account -- they just look for profit. It tells me I will probably stay with the credit union!

    Grade: 10/10

    Raven, You are absolutely right, stay away from credit cards at least until you are out of college, have a full-time job and are self-supporting.

    Grade: 2/2

    ReplyDelete