stock prices for credit card companies

For just about anything you want to get off your chest about credit cards.
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Cucumber
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stock prices for credit card companies

Postby Cucumber » Mon Mar 09, 2009 4:01 am

check em out....

citigroup - $1.03
bank of america - $3.14
capital one - $8.31
american express - $10.26
discover - $4.95 (hey that price sounds like a deal ;) )
jpmorgan chase - $15.93
advanta - $0.25 (they are the 2nd biggest issuer of business credit cards in the US)

and then the two that are almost untouched....

visa - $50.19
mastercard - $142.44

(they only process transactions, don't lend money)

so yeah visa and mastercard aside someone like warren buffett could swoop in and buy out the entire credit card industry for under $50 billion
OBAMA
Stop talking crap about him!


teddy19
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Postby teddy19 » Sun Mar 15, 2009 2:33 pm

Hey I saw Visa earned over $400 million last quarter of 2008. Remember we owe over $957 Billion just on credit cards. Do the math. Say average interest rate is 10%

957,000,000,000 X 10% = $95,700,000,000 that's billion.

I realize 10% may not be average rate, but regardless of rate that's a lot of interest being charged.

teddyd
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Postby teddyd » Mon Mar 16, 2009 7:30 am

I have to correct myself. The figure I gave yesterday underestimates the amount credit cards & banks earn on interest. I read an article that said this year credit card companies look to earn $20 Billion just on late fees & other fees.

So $95 Billion is probably accurate. Learn how to get out of debt and then help someone else. This is my goal & what I am passionate about. Debt hurts more families than helps families accomplish their goals.



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