House Of Cards | Clipmarks


	House Of Cards

debbyski

9-24-2007 5:48 PM

503 views

tags:

credit, card, companies

debbyski says:

"Signing up a new credit card customer: $58. Buying off Congress: $8.5 million. Keeping Americans in hock for life: priceless."

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<div style="margin: 12px 0px; font-family: arial; color: #333333; background: #ffffff; border: solid 4px #e5e5e5; width: 100%; clear: left;"><div class="CM_CTB_Content_Wrap" style="margin: 0px; padding: 0px;background-color: #ffffff;"><div style="border-bottom: solid 1px #dcdcdc; white-space: nowrap; margin-bottom: 8px; background-color: #eeeeee ;background-image: url(http://clipmarks.com/images/source-bg.gif); background-repeat: repeat-x; height: 24px; line-height: 24px; vertical-align: middle; padding-bottom: 4px; color: #666666; font-size: 10px;" ><a href="http://clipmarks.com/clip-to-blog/" title="see clips that are hot right now"><img src="http://content.clipmarks.com/blog_embed/5763c91a-51d0-4c32-b869-ad8070cf190a/DE0DB7FE-035F-4593-9362-C4BE26D02051/" alt="" width="19" height="19" border="0" style="vertical-align: middle; margin: 0px 4px; display: inline; border: none; float:none;" /></a>clipped from <a title="http://www.motherjones.com/news/exhibit/2007/09/exhibit.html?src=email&link=hed_20070924_ts1_houseofcards" href="http://www.motherjones.com/news/exhibit/2007/09/exhibit.html?src=email&link=hed_20070924_ts1_houseofcards" style="font-size: 11px;">www.motherjones.com</a></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.motherjones.com/news/exhibit/2007/09/exhibit.html?src=email&link=hed_20070924_ts1_houseofcards"><div align="center"><img src="http://content6.clipmarks.com/blog_cache/www.motherjones.com/img/AF543A9A-E291-43AE-AAE8-D9EFD9E092AA" alt="" /></div></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.motherjones.com/news/exhibit/2007/09/exhibit.html?src=email&link=hed_20070924_ts1_houseofcards"><P>
<SPAN>Americans</SPAN> owe $850 billion in credit card debt. The world's 54 poorest countries owe $412 billion in foreign debt.
</P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.motherjones.com/news/exhibit/2007/09/exhibit.html?src=email&link=hed_20070924_ts1_houseofcards"><P>
<SPAN>A "preferred customer,"</SPAN> according to one MasterCard vice president, is someone with a "taste for credit" who's "willing to make minimum monthly payments—forever."
</P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.motherjones.com/news/exhibit/2007/09/exhibit.html?src=email&link=hed_20070924_ts1_houseofcards"><P>
<SPAN>The average</SPAN> American household spends 14% of its disposable income paying off debts. It puts negative 0.5% into savings.
</P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.motherjones.com/news/exhibit/2007/09/exhibit.html?src=email&link=hed_20070924_ts1_houseofcards"><P>
<SPAN>1/3 of low-</SPAN> and middle-income households report going into credit card debt to pay for rent, utilities, and food.
</P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.motherjones.com/news/exhibit/2007/09/exhibit.html?src=email&link=hed_20070924_ts1_houseofcards"><P>
<SPAN>Since 1996,</SPAN> when the Supreme Court struck down limits on credit card fees, the average late penalty has jumped 162% and the average fee for exceeding credit limits is up 138%.
</P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.motherjones.com/news/exhibit/2007/09/exhibit.html?src=email&link=hed_20070924_ts1_houseofcards"><P>
<SPAN>After Discover charged</SPAN> a woman more than $9,000 in interest, penalties, and fees on an initial bill of $1,900, an Ohio judge erased her debt in 2004, slamming the company for being "unreasonable, unconscionable, and unjust."
</P></blockquote></div><div style="margin: 0px 6px 6px 4px;"><table style="font-size: 11px;border-spacing: 0px;padding: 0px;" cellpadding="0" cellspacing="0" width="100%"><tr><td style="background:transparent;border-width:0px;padding:0px;">&nbsp;</td><td align="right" style="background:transparent;border-width:0px;padding:0px;width:107px" width="107"><a href="http://clipmarks.com/share/DE0DB7FE-035F-4593-9362-C4BE26D02051/blog/" title="blog or email this clip"><img src="http://content7.clipmarks.com/images/c2b-foot.png" border="0" alt="blog it" width="107" height="17" style="border-width:0px;padding:0px;margin:0px;" /></a></td></tr></table></div></div>

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