Comments on: Beltway Wisdom In A Toobz Nutsell

By: bgrothus

bgrothus — Tue, 23 Dec 2008 15:28:17 +0000

I have noticed that the banks have changed the concept on transferred balances. I have used those many times, transfer a balance for a certain period at 0%, usually 6 months to a year. They used to charge a higher rate for purchases, and none of the payments went towards the accrued balance with purchases until the initial transfer was paid off. So I would just transfer the balance and not use the account for any purchases. 0% loans essentially, just the charge for the transfer.

Now they give you 0% (plus fee) on transfers, but only IF you use the card to make a purchase within the first month or something. And of course the money paid on the account still goes to pay the transferred balance while the purchases accrue interest, as before. I have not noticed that they are setting a minimum for purchases, but that will be next.

By: ironranger

ironranger — Tue, 23 Dec 2008 15:26:08 +0000

“head meet desk”, lol.
My bil has worked for ups for years, close to retiring, & almost froths at the mouth when unions come up in conversation. Doh!

By: RickinSF

RickinSF — Tue, 23 Dec 2008 15:23:02 +0000

Aww, they still love you.

By: bluejeansntshirt

bluejeansntshirt — Tue, 23 Dec 2008 15:19:24 +0000

Loud and clear here. My BIL still badmouths unions after a co-worker was laid-off one month before his pension eligibility. Family thinks I’m the nut. *head meet desk*

By: foothillsmike

foothillsmike — Tue, 23 Dec 2008 15:15:44 +0000

I have a CITI card with a perfect record. Shortly after they got bailed out I got a notice they were raising my rates by 4%. A week later I got a mailing offering 0% apr on transfered balances. Figure that one out.

By: ironranger

ironranger — Tue, 23 Dec 2008 15:12:33 +0000

It was minus 19 deg at our house this morning. High of 8 yesterday. 5 inches of snow last weekend, 14 inches the weekend before. It is winter wonderland in northern Minn this year.
Decades of republican snowjobs & our crappy media have worked well for them. I am constantly flabbergasted & depressed by how many people I know who have bought into all the propaganda. Unions should die, carmakers should fail, all the usual R garbage are parroted by people who will never make much money, getting laid off, losing their health care, etc, etc. It’s bizarre.

By: Crosstimbers

Crosstimbers — Tue, 23 Dec 2008 15:06:25 +0000

I haven’t gotten those, but curiously, I’m still getting credit card applications. There’s something I don’t understand.

By: eCAHNomics

eCAHNomics — Tue, 23 Dec 2008 14:55:40 +0000

It’s worse than you describe. What are the “returns” the lobbiests get on their “investments?” It’s got to be the most lucrative payoff the corps can get. I’m amazed that the whole phenomenon is as small as it is, considering how big the rewards are. (I’m also amazed at how little it takes to bribe a pol.)

The only reason I can think of why it’s not much worse is the old frog boil story. They’re warming up the voters to that kind of corruption little by little.

By: Christy Hardin Smith

Christy Hardin Smith — Tue, 23 Dec 2008 14:54:08 +0000

Speaking of restocking the Y2K bunkers — anyone else starting to get seed catalogs in the mail? I got a couple yesterday — woo hoo!

By: Christy Hardin Smith

Christy Hardin Smith — Tue, 23 Dec 2008 14:49:22 +0000

Have fun baking! We’re thinking about getting The Peanut out of the house for a movie today before she explodes from not being able to open her presents… *G*