Friday, September 11, 2009
The Card Game...
Ron Lieber and Andrew Martin from the International Herald Tribune talk about how debit cards have become a source of credit worry for consumers in the US. (article) A very interesting issue brewing up in terms of regulation. There are proposals at the Fed Reserve to get banks to have prior permission from its customers for the overdraft option, and this proposal would only erase the line between debit and credit cards - requiring a change in the mindset of consumers.
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2 comments:
If that happens, wouldn´t it be like the credit/debit cards we used to have back in Singapore? During that time, I used to have a card that looked like a credit card, but in fact it was a debit one. It could be used just like a credit card, but it would not work if the balance in the bank account wasn´t enough.
Nice blog dude!
Not really. The problem is with the overdraft facility - when one does not know that they are borrowing from banks without having realised the same, it complicates the difference between debit and credit cards. On the other hand, this might actually make people spend in a more rational fashion. Thanks. Do pop in suggestions to improve the blog.
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