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Special Report on

Get Out of Universal Default

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this week quietly marked the end of one of the most reviled credit card industry practices in recent years: hiking cardholders' interest rates based solely on their declining credit scores. Known in the industry as universal default, the practice has been roundly criticized  by consumer advocates, members of Congress and consumers. Paying a utility bill late, missing a payment on a different credit card, having too many inquiries on a credit report or being rejected for a credit application may all potentially lower a credit score. Until March 1, 2008, a lower credit score could trigger an interest rate hike for ...
to which all humans are entitled." Proponents of the concept usually assert that everyone is endowed with certain entitlements merely by reason of being human . Human rights are thus conceived in a universalist and egalitarian fashion. Such entitlements can exist as shared norms of actual human moralities, as justified moral norms or natural rights supported by strong reasons, or as legal rights either at a national level or within international law . However, there is no consensus as to precise nature of what in particular should or should not be regarded as a human right in any of the preceding senses, and the abstract ...
Ross Douthat: Straight People Are Magic | Slog | The Stranger ...
What's the opposite of a full-throated argument? A half-throated argument? A stuff-something-down-his-throated argument? Whatever it is, Ross Douthat makes one today in defense of reserving marriage rights for opposite-sex couples . Douthat opens by conceding that all of the pro-discrimination arguments made by his fellow conservatives are stale bullshit patties: Marriage is an ancient institution that has always been defined as the union of one man and one woman, and we meddle with that definition at our peril. Lifelong heterosexual monogamy is natural; gay relationships are not. The nuclear family is the universal, ... market research, surveys and trends
Calcbot: The Ultimate Calculator for iPhone & iPad | iPhone.AppStorm
– highlighting the simplicity and design of their applications. Well, the folks at TapBots have been hard at work and recently released the newest member of their family. Introducing Calcbot , a brilliantly simple and fun calculator “robot” that takes the mindless task of calculation and makes it fun and even easier to do. Let’s take a look at how Calcbot works after the break. Available as a universal application for both iPhone and iPad, Calcbot takes the guesswork out of calculation, providing users with an intelligent display that displays not only the numbers you press but the expressions as well. ... market research, surveys and trends


frontline: secret history of the credit card: eight things a ...
if you're late on payments elsewhere -- such as on another credit card or on a phone, car, or house payment -- or simply because the bank feels you have taken on too much debt. This practice is called the "universal default" clause and increasingly is becoming a standard clause in credit card agreements. According to credit card executives, the logic behind universal default is that the bank is not being unreasonable in raising rates when it has reason to believe that the risk of being repaid by the customer has increased. [Note: Credit card banks can now easily track your everyday financial activities and ... industry trends, business articles and survey research
Faulting Universal Default - The Checkout
For consumers, "universal default" has to be one of the most aggravating policies practiced by credit-card issuers. Now, New York may become the first state in the country to do something about it--at least if Gov. George Pataki signs a bill passed by the state legislature last month. What is universal default? If you don't know, consider yourself lucky because it probably means you've not been affected. Under universal default, a credit-card company monitors the credit histories of its customers, even those who are current in their monthly payments. If a customer is late paying another creditor (such as ... industry trends, business articles and survey research
Reeder for iPhone and iPad
The iPad's portability and incessant connectivity make it a popular device for reading news. Some people use news apps dedicated to one publication, such as New York Times Editor's Choice and The Wall Street Journal , while others use feed readers which can collect articles from just about any publication or blog. Reeder from Silvio Rizzi is just such a feed reader, which offers plenty of options for sharing, syncing, and, of course, reading your news. Available in both iPad and iPhone versions, both flavors of Reeder offer very similar features. The exception: the iPad version enjoys some interface perks thanks to ... market trends, news research and surveys resources
The liberal case for regressive taxation
Just when you thought that bipartisanship was dead, many progressives can be found agreeing with most conservatives in opposing the adoption of a national consumption tax in the form of a value-added tax (VAT) of the kind that every other developed nation has. The ironies are rich on both sides. Many of the conservatives who denounce the very idea of an American VAT support less efficient flat national consumption taxes, like the proposed Fair Tax. Meanwhile, many American progressives want a European-style welfare state, but don’t want to pay for it the way the Europeans do: with payroll and consumption taxes that fall on ... market trends, news research and surveys resources


Credit Card Booklet 2.3.indd
companies give out all sorts of trinkets to get college students to apply for credit ... UNIVERSAL DEFAULT: A consumer's interest rate can skyrocket ... technology research, surveys study and trend statistics
Loans and Financial Services, New Hampshire Consumer's Sourcebook ...
The use of credit is part of everyday life for the majority of Americans. Consumers are extended credit by retailers and lending institutions to purchase goods, services, appliances, automobiles and residential real property through credit cards, installment loans, home mortgages, and home equity lines of credit. Both federal and New Hampshire laws provide important safeguards and remedies for consumers in their credit transactions and consumer leases. Some of these laws require that certain information be given to the consumer before or during the credit transaction. Others relate to problems which can occur later in the ... technology research, surveys study and trend statistics
Penalty Interest Rates, Universal Default, and the Common Pool ...
By a universal default clause, we mean the following: Many credit card .... consumer simply consumes out of his income (if any) net of debt repayment. ...
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WikiAnswers - What happens if you default on a vehicle lease agreement
What typically happens is that the party financing the lease will repossess the vehicle. The vehicle will typically be sold and the party financing the lease will attempt to collect the balance remaining under the lease either through a collection agency or through formal legal action. First answer by ID1095146641 . Last edit by ID1095146641 . Question popularity : 1 [ recommend question ]. Can you answer these auto loans and financing questions? Related answers: What happens when a leased vehicle is stolen? While this depends upon your leasing agreement, most are fairly standard. As you were probably required ...
What happens if you quit paying your credit card? - Yahoo! Answers
I am very broke & I'm wondering what happens if I decide not to pay my credit card? If it goes to collections, what happens then? Will a lien be filed against my home? Will they garnish my wages? Will I lose my home? Thanks! It could be a while yet before it goes to collections, but first it will go to collections, then if you still don't pay, it will probably get sold (though maybe not). Then you will be sued. If they get a judgment, THEN they can get a lien on your house and garnish your wages. You typically won't lose your home, they will usually just wait for your house to sell to collect ...