RE and economic charts: Cardholders Prefer Debit as Credit-Card Use Falls + Credit card use plunges, debit use rises

Saturday, September 11, 2010

Cardholders Prefer Debit as Credit-Card Use Falls + Credit card use plunges, debit use rises

[mEDITate-OR:

not see that most of U.S. did see what they were doing.

and we adjusted accordingly.

You may, but this is only permissive, not necessary or even wise...

show the Big Bailed Out Banks your sympathy.

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JGBHimself

Sep-10 @ 2:17 PM

What also appears in the AZRep parent paper = USA Today - are article from two years ago at the beginning of the RE credit crisis telling U.S. about how the major credit cards were making massive increases in fees and costs in order to "cover" their "securitized" RE loans.

They also wrote that one of the problems was that the same banks/credit card co's had also "securitized" their/our credit cards debts. One bad idea deserves another, it would seem.

What they also have told U.S. is that immediately prior to the new credit card regulations, the CCCo's have once again made last minute "improvements" to the costs and fees that they charge U.S. so that they will have them in place when the new rules would prevent them.

Oddly, to the CCCo's is that many of U.S. have simply stopped using them.

And, people in underwater and about to be foreclosed homes are now not making their home loan payments, but using the money to pay off their much higher interest CC bills.

Go figure, bcuz they did.

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At San Francisco-based Visa Inc., the world’s biggest payments network, the total payment volume for debit cards increased by 7.9 percent in 2009 to $883 billion as credit-card volume declined by 7.3 percent to $764 billion.

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