After cutting back on spending for the past couple of years, JP Morgan is promoting their credit cards heavy again with cash back offers. Article at Options Weekly - http://www.optionsweekly.com/jp-morgan-chase-credit-cards/ Subscribers to Chase credit cards grew 13% in the 3rd Quarter to 2.7 million.
It's not just Chase. I'm getting 0% balance transfer offers from around the country again. Thanks for the reminder, gotta go hit that opt-out link. Back to business as usual....
Like a drug dealer not pushing his smack, he doesn't earn much. Like a bank not pushing debt, they don't earn much.
I also noticed this, the new "Ink" card being offerd is the new product to be advertized. Must mean the job market could turn. Akuma
I get offers for 0% 12 month balance transfers at least 1-2 times a week in the mail. Let the credit bubble begin, as I said Bubble ben bernanke is doing a spectacular job at creating the next new credit bubble, Go Bubble ben GO!!!!!!!
You can attempt two things. First, cut up the cards as they come. However I doubt most will as most are broke by "real wealth" standards. Second, get as many cards as you can, play the cash advance and take out as much as you can. Take that money and invest, go to vegas, buy toys' or just run up the cards to their max. Most will not pay them back... You know how this game ends. And you'll have all the toys in the world or possible chance at 400% return if you invest it proper. FYI...I cut mine up..Im liquid and staying that way.
Im sure over the last month as those offers came in the mail people were glad to take the offer and sign up to get those shiny cards all ready for christmas shopping. Spending on credit and just missing one payment = 30% APR.