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You know those onerous credit card regulations that Governor Rounds and Senator Thune said would kill thousands of jobs in South Dakota? The feds approved them (the regs, not Rounds and Thune) today.
Expect pink slips at Premier Bankcard any day now... right, Governor Rounds?
Drinking Liberally Update (11/15/2024)
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In Politics: Nationally: The Election is over and the wrong side won. I
have nothing to contribute to the barrels of ink being used by Pundits to
explain a...
3 days ago
"While the new rules are designed to increase protections for consumers, the Fed itself has recognized that they may result in increased costs for most card users and reduced credit availability, particularly for consumers with lower credit scores or limited credit history."
ReplyDeleteBefore you celebrate - understand that this is going to hurt the most distressed consumers that need credit - not sure how that's a party!
---Lee Schoenbeck
Gee Lee, a lawyer and a thune campaign contributor. I'm impressed. Why don't you do some lawyering over these numbers, and then remind us again how this is good for consumers.
ReplyDeleteFirst Premier Cards
Credit limit $250
Program Fee -$95
Account Setup Fee -$29
Participation Fee -$6 per month
Annual Fee -$48 per year
Total Usable Credit $72, before first purchase is made.
It's called Fee Harvesting. More here.
http://64.233.169.132/search?q=cache:Jr-jvvpPulMJ:www.consumerlaw.org/issues/credit_cards/content/FEE-HarvesterFinal.pdf+brookings+bank+credit+card+sub+prime+argus+leader&hl=en&ct=clnk&cd=3&gl=us
and here.
http://viergeproducts.com/finserv/firstpremier.html
and here.
http://www.ripoffreport.com/searchresults.asp?q5=first%20premier%20bank&q1=ALL&q4=&q6=&q3=&q2=&q7=&searchtype=0&submit2=Search%21&Search=Search
Warren Phear