Don’t leave home without it (and your ATM card).
March 17, 2010
Praying Quote of the Day:
“Don’t pray when it rains if you don’t pray when the sun shines.” – Satchel Paige.
American Express has a card called the Centurion Black Card. If you carry this in your wallet you know you’ve hit the big time. The annual fee on this card is $2,500 a year, with a one-time initiation fee of $5,000 in the first year. American Express requires a minimum card activity of $250,000 in a 12 month period, and is available by invitation only. (Invitation only – why have I not been invited?! Don’t they know I have an Abercrombie and Fitch card with a $500 limit?). It may be a privilege to only pay a $2,500 annual fee compared to what the other card companies have been doing lately. Maybe you’ve seen the letters mailed to you about the changes – some of them positive (no more “double-cycle billing” or arbitrary rate increases), but a lot of them negative (higher rates, less “cash back” and less “miles”) as card companies are doing whatever they can to protect themselves from the Card Act of 2010 – an act that was designed to help the consumer. Make sure to protect yourself by reviewing the changes to whatever cards you hold.
Praying Quote of the Day 2:
“Why is it that when we talk to God we’re said to be praying, but when God talks to us we’re schizophrenic.” – Lily Tomlin
Have started creeping up. Are banks preparing for the March 31st deadline of Bernanke’s promise to stop purchasing bonds? Perhaps. Is the anticipation of inflation causing rates to rise? Perhaps. Would the Olson Twins find me attractive? Perhaps. Here is what I know: Rates will be affected today by the PPI report (Producer Price Index). Any sign of more-than-expected inflation will cause rates to rise, and rates will drop if it looks like inflation is still under control.
Timeout for Trivia:
Congratulations for all of you last week who correctly guessed Janet Jackson. Want to be entered into a quarterly drawing to win cool stuff? Simply email me back the answer to this week’s Who Are We? question. Good luck: “It was back on this date in 1992 that a Chicago judge approved cash rebates of up to $3 to anyone proving they bought our music before 11/27/90. Rebate?! Why would anyone want that? We sold a ton of records and had three number one hits. How did all of this come to be? You can blame it on our manager, or blame it on the concert in Bristol, Connecticut, but don’t blame it on a drizzly day. We are…”