I usually just pay my credit card bills as soon as they arrive without paying much attention to details. After all, I really should be able to trust a credit card which came from those good Lutherans who sold my parents a life insurance policy on me back in the 1950s.
Lutheran Brotherhood pushed Thrivent credit cards. Looked like a pretty good deal. Handy now and then for paying things like the bill for TypePad hosting Dakota Today and purchases of some minimal software or books.
I noticed two things this month. The interest rate on balances had become 35% per year even though I don't think I have ever been late on a payment since my credit limit is now about 5 times larger than when I opened the account.
And then there is the 45 cent international conversion charge because I bought TomeRaider software from a British company. I knew that one of my credit cards was going to tack on such a new fee, but remembered it would only be for charges made in June. Guess it was for billings arriving in June. Not much of a charge since the software was inexpensive.
Today on SDPB an economist was discussing Credit card companies and the liklihood they would be inventing new ways to extract disproportionate fees from their customers..both borrowers and commercial operations paid by credit cards.
Looks like some of the credit card companies aren't waiting.
And, who do we have to thank for some of this mess. Why its that saint of Republican Conservatives Ronald Reagan:
Paul Krugman on "It was Reagan's Fault"
**Stay tuned. There is no interest charged and no late fees for reading Dakota Today-- Doug Wiken
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