Books

  • Jeff Michael: Repair Your Credit and Knock Out Your Debt

    Jeff Michael: Repair Your Credit and Knock Out Your Debt
    I highly recommend this book because I wrote it.

  • Edie Milligan: Tips from the Top: Targeted Advice from America's Top Money Minds

    Edie Milligan: Tips from the Top: Targeted Advice from America's Top Money Minds
    I have about a dozen entries in this book.


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« Askville | Main | Subprime problems and credit scoring »

Comments

I agree totally on this one. I have been burned a few times by this. My solution now is if I end up not paying the full balance one month, I switch to using another card until I get my primary card paid down for two cycles so I can start using it again without charges.

But, but, but... If the credit card companies don't double bill, er sorry, I mean double cycle bill, how will they be able to afford to compensate people like Charles Prince, CEO of Citigroup, Inc., $25,000,000 in 2007, like they did in 2006?

http://www.aflcio.org/corporatewatch/paywatch/ceou/database.cfm?tkr=C&pg=1

Alex

Yeah, but Citigroup's stock performs well; Prince delivers value to his shareholders, and he gets compensated. Nothing wrong with that.

Now when that shareholder value is created through trickery and fraud, then we have a problem. That's what the AFL-CIO should be focusing on, not stoking envy by citing raw numbers. There are union bosses making $800,000 and they don't do anything useful. Yeah, I know $800k isn't 25 million, but it's not chump change, either. My question is, whose retirement is more secure, pensioners from industries teetering on the brink of bankruptcy because of union policies, or 401(k) holders whose portfolios include Citigroup stock?

Again, not that I'm defending Citigroup's evil policies, but CEO compensation is way down my list of concerns. If they'd treat their cedit card customers fairly by actually honoring signed contracts, they can pay the a**hole at the top whatever they want.

Hm. Is there any another method that can be requested by consumer? Or there nothing can be done?

I think the only solution is to switch to a different credit card company that doesn't use 2-cycle billing.

Here's the list of creditors who are consumer-friendly:
http://credit.typepad.com/credit/2005/11/more_consumerfr.html
I'm a big fan of BB&T in particular.

MD Governor Martin O'Malley has signed into law HB 947 to remove the 501(c)(3) requirement for a credit counseling agency to obtain a license to serve MD residents.

This follows a recent action by the state of Idaho to also remove the 501(c)(3) element from their license requirement.

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