What happens when you buy a car on credit and then default on the credit card?
One of our readers, David, had this question:
The baby boomers have certainly turned this product into a raging success and with that came a storm of questions about what a reverse mortgage is and how it works. There are a lot of misconceptions about the product and what it actually does for senior citizens. So, without further adieu, let’s jump right in.
Generally, I prefer that my credit cards be seen, but not heard. I don’t want a “relationship” with my credit card company, and I don’t want to hear from them unless I have a problem.
I came across an exceptionally well worded question about reward cards over at Flyertalk. I thought I would take a moment to answer it it detail. The question is:
I like the idea of a customer-centric culture because I think companies would fail to exist without them, so it makes sense to do what you can to please them. What I don’t like about this type of environment is that in 95% of the cases where this exists, the focus is on the “best” customers.
It seems like every retailer is offering its customers its own credit card nowadays. While the incentives to applying for a new store credit card are often enticing — many stores offer 25% off the first purchase, no interest for one year, or monthly discounts or gifts to cardholders — having so many store credit cards in your wallet can put you into debt in a hurry, if not seriously hurt your credit score.
If you’ve chosen to reaffirm some of your debt when you declared bankruptcy, you need to be sure that everything gets reported correctly to all three credit bureaus.
Your job is to design the perfect credit union branch for 18-25 year olds, and the sky’s the limit. How do you equip it? How do you make this place as appealing as possible for this group?