Robert McKinley Quotations

We're in an environment right now where there's a lot of strain in the profitability of credit cards, ... Issuers are looking to hit you with fees and those sorts of things.

There are fees. You may have a balance transfer fee or a convenience fee, and the interest starts right away and the interest rate typically on those checks is very high. Nineteen percent or higher.

Making the minimum payment ... is probably one of the biggest expenses any consumer can make, ... You can end up paying for this Christmas for years to come.

Many of those fixed-rate cards haven't moved at all this year.

Many issuers have a charge back form built into the monthly billing statement.

So it's possible that any rate cut today could be offset by a bump-up in pricing.

If someone rips you off, it's a real mess to clean up.

There are sort of give backs with those low rates.

Just pay attention. Make sure you're not given a product you don't want.

You can get zero percent rates that last as long as a year. We've never seen anything like this before.

Vote with your feet, ... Do more comparison shopping. Know what the fees are. Read carefully, and if you don't see something you like, go elsewhere.

There are a few scenarios where it could make sense. If you have the right rewards card, or if you use your rewards well, you may get a value that's worth considerably more than the cost.

They are a concern to a lot of consumers because there is an open check with your name on it.

Pulaski only has 32,000 accounts and is only adding 1,000 new accounts a month. About one in 100 applicants will qualify for it.

The bottom line is these offers are a marketing gimmick. If you get an offer in the mail, it's important to read the disclosure box very carefully.

That's where the consumer can take advantage of the low interest-rate environment.

Young consumers are probably best served if they can get a major bank card early on

There's been a fee frenzy, ... (A wide range of charges) have been beefed up.

It just makes real good sense to carry more than one credit card.

Don't be swayed by bells and whistles, like reward programs or miles. A lot of consumers are drawn to these, but if you carry a balance, the interest rate may not be worth it.

They'll only be limited by what the market can bear.

If you're looking to transfer a $5,000 balance, you need to look to the largest issuers.

In the short-term, you're probably not going to see much of a change.

If you're very loyal to that particular retailer, it makes it easier to handle returns and so on,