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8 week Tbills at 4.43% doesn't suck and will likely only continue to rise. Just buy those every week for 8 weeks and keep rolling the capital back in to another set of 8 week Tbills.
No wonder my money market fund is at around 4.25% now, which is better than a MM has paid in the past dozen or more years. 1 year CD rates have cooled off a bit, from 4.9% a month or so ago down to 4.6% now. I am a retiree who is content getting 4 to 5 percent interest by just parking cash in an almost worry-free T bill, MM or CD.
No wonder my money market fund is at around 4.25% now, which is better than a MM has paid in the past dozen or more years. 1 year CD rates have cooled off a bit, from 4.9% a month or so ago down to 4.6% now. I am a retiree who is content getting 4 to 5 percent interest by just parking cash in an almost worry-free T bill, MM or CD.
I want to take bets on when we'll get an ACTUAL recession. Because I want to short this bet. We had that one quarter of zero growth last year but it was revised up, and the last two quarters have shown reasonable 2.0-2.5% growth.
This upcoming recession has been the most predicted one ever. The financial media has been heralding its coming for over a year now. WHERE IS IT??
I want to take bets on when we'll get an ACTUAL recession. Because I want to short this bet. We had that one quarter of zero growth last year but it was revised up, and the last two quarters have shown reasonable 2.0-2.5% growth.
This upcoming recession has been the most predicted one ever. The financial media has been heralding its coming for over a year now. WHERE IS IT??
I think the fear of a recession is what could actually cause the recession. Businesses are preparing for it which means they're laying people off and hording capital. If this happens enough across the board it could push us into one... Or student loan payments restart and we'll be in a deep recession the next day.
Gonna skim some profits?.
I almost began another thread on a this topic, only it's related to the OP's thread title here.
Some very unfortunate people in this country have "nowhere to hide" on what I consider predatory lending interest rates.
I don't mean to put you on the spot, but how do banks get away with charging 25-30% interest on credit cards?. Those are pawn shop rates, should there not be a cap enforced?.
Banks get stiffed left and right on credit card debt ….let’s face it , those that carry balances , especially big balances likely can’t afford to either buy what they do or have weak savings and can’t pay them off .
Better customers get offers for special lower rates all the time .
I get those lower rate offers from the cards I have , but I always pay in full .
Plus look at the thousands in perks many higher end cards give …someone has to pay for that .
Plus fraud on credit cards is high ..banks have to charge rates that cover all the fraud they eat for customer accounts
There are also various people taking fees .
Card issuer: This is the bank that issues the credit cards to consumers, such as Chase, Bank of America, Capital One, etc. The interchange fees are paid to these banks to cover operation costs and risk.
Interchange fees account for most of your processing costs. The average interchange fee for credit cards is around 1.7% - 2%. They're non-negotiable, so unfortunately, there's nothing you can do about them.
Credit card network: This is the brand of the card (Visa, Mastercard, Discover, and Amex). They take a small assessment fee for using their card brands. This fee is just 0.13-0.14%.
Credit card processor: This is the provider that helps you process credit cards (like Square). They also earn a commission with each purchase, along with other fees they charge for their service.
Last edited by mathjak107; 01-13-2023 at 09:04 AM..
Credit card network: This is the brand of the card (Visa, Mastercard, Discover, and Amex). They take a small assessment fee for using their card brands. This fee is just 0.13-0.14%.
That is correct in the case of Visa and Mastercard, but Discover and Amex actually act as the bank and take on credit risk. Different business models between V/MC and Amex/Discover.
No matter what , credit cards have become a costly business to conduct …
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