Comments on: The Urge to Merge http://www.consumerismcommentary.com/2005/06/30/the-urge-to-merge/ A premiere personal finance blog, established 2003. Within, Flexo discusses his own experiences with money, and he and other authors comment on a wide range of personal finance topics. Sat, 21 Nov 2009 16:42:00 -0500 http://wordpress.org/?v=2.8.5 hourly 1 By: Alexis Rios http://www.consumerismcommentary.com/2005/06/30/the-urge-to-merge/#comment-593 Alexis Rios Wed, 01 Feb 2006 05:10:03 +0000 http://wp.consumerismcommentary.com/?p=372#comment-593 That means also that MBNA's credit limit would be reduced , just because the credit limit cap for BoA is $25000 instead of $100,000 from MBNA (except for Quantum which is $250,000) ? That means also that MBNA’s credit limit would be reduced , just because the credit limit cap for BoA is $25000 instead of $100,000 from MBNA (except for Quantum which is $250,000) ?

]]> By: Flexo http://www.consumerismcommentary.com/2005/06/30/the-urge-to-merge/#comment-592 Flexo Fri, 01 Jul 2005 00:02:57 +0000 http://wp.consumerismcommentary.com/?p=372#comment-592 They can afford to have some good offers because they actually have customers who are paying 29.99% interest. The marketplace is competitive now, but with every merger, the remaining companies gain ground. If the eventual result is close to a monopoly, there will be major problems for people who carry balances. They can afford to have some good offers because they actually have customers who are paying 29.99% interest. The marketplace is competitive now, but with every merger, the remaining companies gain ground. If the eventual result is close to a monopoly, there will be major problems for people who carry balances.

]]> By: jim http://www.consumerismcommentary.com/2005/06/30/the-urge-to-merge/#comment-591 jim Thu, 30 Jun 2005 23:55:46 +0000 http://wp.consumerismcommentary.com/?p=372#comment-591 There's competition amongst credit card companies for your business, just look at the rise of cashback rebates. I remember when Discover was the forerunner with 1%, now you can get 5%! There’s competition amongst credit card companies for your business, just look at the rise of cashback rebates. I remember when Discover was the forerunner with 1%, now you can get 5%!

]]> By: Jose http://www.consumerismcommentary.com/2005/06/30/the-urge-to-merge/#comment-590 Jose Thu, 30 Jun 2005 20:46:24 +0000 http://wp.consumerismcommentary.com/?p=372#comment-590 Just bought 500 shares more of Bank of America (to make it 1000 even). I trust the Ability of the American public to get into debt up to their noses. I know they will not let me down. I know they will keep paying interest to ME and My Bankc of America ;) Just putting things in perspective. Now, if you are smart... don't get into credit card debt. Just bought 500 shares more of Bank of America (to make it 1000 even). I trust the Ability of the American public to get into debt up to their noses.

I know they will not let me down. I know they will keep paying interest to ME and My Bankc of America ;)

Just putting things in perspective.

Now, if you are smart… don’t get into credit card debt.

]]> By: Darren R. Sussman http://www.consumerismcommentary.com/2005/06/30/the-urge-to-merge/#comment-589 Darren R. Sussman Thu, 30 Jun 2005 18:59:19 +0000 http://wp.consumerismcommentary.com/?p=372#comment-589 That's kind of a shame. I've always liked MBNA, actually. And Bank of America has done nothing to ingratiate themselves on me so far with their buying of Fleet (who had bought Summit, who was my original bank). But it is getting out of hand. I noticed the other day that one of my cards (that I never use) apparently has a 29.9% APR! That's just out of control! That’s kind of a shame. I’ve always liked MBNA, actually. And Bank of America has done nothing to ingratiate themselves on me so far with their buying of Fleet (who had bought Summit, who was my original bank). But it is getting out of hand. I noticed the other day that one of my cards (that I never use) apparently has a 29.9% APR! That’s just out of control!

]]> By: sean http://www.consumerismcommentary.com/2005/06/30/the-urge-to-merge/#comment-588 sean Thu, 30 Jun 2005 18:37:05 +0000 http://wp.consumerismcommentary.com/?p=372#comment-588 I really don't see how this new conglomerate could be all that much worse than MBNA on it's own! ;) It just looks like I'll again become a Bank of America customer by default - they seemed to be buying every bank where I had an account when I lived in Kansas City ages ago. That said, I don't really see the situation ever getting to the point where <strong>lack of competition</strong> could even approach being more of a problem than CC companies <strong>being able to do whatever the hell they want because nobody's bothering to police them anymore</strong>. But maybe that's just me... I really don’t see how this new conglomerate could be all that much worse than MBNA on it’s own! ;) It just looks like I’ll again become a Bank of America customer by default – they seemed to be buying every bank where I had an account when I lived in Kansas City ages ago.

That said, I don’t really see the situation ever getting to the point where lack of competition could even approach being more of a problem than CC companies being able to do whatever the hell they want because nobody’s bothering to police them anymore. But maybe that’s just me…

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