If you make a couple of late payments on a new card with an introductory rate, ... your annual percentage rate could jump as much as 15 percentage points.
More Quotes from Ken McEldowney:
This is not brain surgery. This is common sense. I'm baffled. I really am.Ken McEldowney
The banking industry has become so competitive that there are widespread free accounts out there with no conditions whatsoever.
Ken McEldowney
All too often, companies take data security far too casually. I guess they assume nothing is going to happen.
Ken McEldowney
In essence you incurred the balance while you were much more credit worthy in the eyes of the credit card company.
Ken McEldowney
If a consumer is paying late, or not making credit card payments, they know that before it hits a credit report. The only thing this might be a safeguard against is some kind of fraud -- and my understanding is that the credit reporting agencies have safeguards.
Ken McEldowney
There's no reason for someone to have a bounce-protection plan. Seek out the overdraft-protection plan.
Ken McEldowney
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