Tuesday, January 23, 2007

CC Trivia

How much do you think it costs the CC companies for each new acquision ?
$12.80, $32.67, $80+

Read credit card facts...

little example opf the fun on this site:
Credit card companies are all headquartered in states with high or no cap on interest rates. American Express is located in Utah (no cap), Bank of America is in Arizona (36%), Citibank is in South Dakota (no cap), Capital One is in Virginia (no cap), Providian is in New Hampshire (no cap), and JP Morgan Chase, MBNA (now Bank of America), Morgan Stanley/Discover, and HSBC are all located in Delaware (no cap).
Each American household receives approximately 6 offers a month. The typical response rate is .33% (one third of one percent). You can opt out of these mailings via OptOutPrescreen.

Each direct mailing acquisition costs approximately $80, according to R.K. Hammer, bank card advisory firm.

Credit card companies earned $90.1B in interest in 2006, up from $89.4B the year before (according to R.K. Hammer).

BOTTOM LINE... do not run up credit card debt....I repeat...do not run up credit card debt

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