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There is a .pdf file to download. Lots of interesting info. The abstract is below.
We analyze the effectiveness of consumer financial regulation by considering the 2009 Credit Card Accountability Responsibility and Disclosure (CARD) Act. We use a panel data set covering 160 million credit card accounts and a difference-in-differences research design that compares changes in outcomes over time for consumer credit cards, which were subject to the regulations, to changes for small business credit cards, which the law did not cover. We estimate that regulatory limits on credit card fees reduced overall borrowing costs by an annualized 1.6% of average daily balances, with a decline of more than 5.3% for consumers with FICO scores below 660. We find no evidence of an offsetting increase in interest charges or a reduction in the volume of credit. Taken together, we estimate that the CARD Act saved consumers $11.9 billion per year. We also analyze a nudge that disclosed the interest savings from paying off balances in 36 months rather than making minimum payments. We detect a small increase in the share of accounts making the 36-month payment value but no evidence of a change in overall payments.
I have been thinking about this since learning about Amex backdating and how it helps AAofA.
I have really two thoughts. One is I'm surprised that AMEX isn't pressured not to backdate new accounts since the rules say if you report (you don't have to report), you have to report accurately. I'm glad they do it, but they are kind of fudging there.
But what I really don't get is why some of their competitors don't do the same thing. That would be a huge benefit to members and would draw lots of new business and wouldn't cost a dime.
I am just surprised that AMEX seems to have a lock on this perk and is able to gain a competitive advantage over their peers.
My mother and I have the same first name and last name. I checked my EQ CR and there is a negative account on the report for Verizon. It says in comments " Collection Account, Account closed by credit grantor" There is no collection agency listed on the EQ CR. Now, I don't remember signing up for Verizon and this could be my mothers'. How do I go about disputing this? Should I send a validation letter to Verizon or to EQ telling them that account is not mine?
I pulled my Experian credit report and I saw that a law office has been pulling my credit once a year for the past two years. It's to collect a debt I owe from 2009/2010. How can I stop them from doing this? Is there a way I can find out how much time is left on the SOL on the debt? Also, when I got this debt, I was not a legal resident in the United States but I am now.Can this help in making the validity of this debt slightly illegal? Does this change anything? I also pulled my Equifax credit report but it does not have this information on it. Is this normal?
AMEX Platinum Charge Card 100k MR points after $3k spend in 3 months
AMEX Premier Rewards Gold 50k MR points after $1k spend in 3 months
Apply through Cardmatch tool without initial hard pull to pre-qualify - must be opted in - may be targeted
More about the deal: http://thepointsguy.com/2015/01/amex-platinum-100000-point-offer-back-targeted/