CHESSNOID

I used to have perfect credit and multiple credit cards from American Express, Bank of America, Citibank, Chase Manhattan and many other little companies for the past 20 years that they absorbed or merged into their too big too fail banks. And then over 3 years ago, literally overnight the banks cut my credit [...]

NY Times:
American Express said on Wednesday that it would close customer service centers and cut 550 jobs as it helps more people on the Internet, a move that will cost the company $74 million after taxes.
The company, a credit card lender and payment processing network, will move another 3,000 jobs to different locations as part [...]

This makes perfect sense if you are in the collections field.  Credit card delinquency is a range of days that an account is past due anywhere from 30-179 days delinquent.  In standard accounting practices, once a credit card hits 180 days past due, the account is written off or charged off as a bad debt. [...]

I just got a comment from a reader that made me realize most people believe what all the experts say.  Even when all the experts were wrong about the housing crisis, the recession, the banking collapse, the bailouts, and the foreclosures.  The comment Joe made is that everyone else has to pay for the credit [...]