Tuesday, March 27, 2007

Elizabeth Warren on Fresh Air

If you use credit cards, you MUST listen to Fresh Air's interview with Elizabeth Warren. You can catch it on NPR later today or listen online for free.

Warren is a Harvard law professor who specializes in credit and bankruptcy law, yet the stories she tells are conversational and easy to understand. The interview was spellbinding. Truly, I had no idea how conniving the credit card industry can be. Warren gives specific examples, like random $75 fees deliberately placed on user accounts.

Sometimes I worry about all the cash back offers and airline miles we miss by spending cash instead of credit. Warren put my doubt to rest.

6 comments:

The Familiy CEO said...

I love Elizabeth Warren. You might be interested in her book, The Two Income Trap, if you haven't already read it.

I'm such a nerd that I've been watching online a 3 1/2 hours congressional hearing about the credit card industry that she, and others, testified at back in January.

I'll definitely check out the Fresh Air interview.

hsgbdmama said...

Yeah, we stick to a couple of credit cards issued by credible companies which pay cash back, and have had no issues.

Yes, the industry is very conniving, and the part that is very frustrating is their attempt to place the entire blame on the consumer and take no responsibility for all the easy credit they offer.

Donna said...

I've read one of her books she co-authored with her daughter. She seems to be one of the more sensible financial writers out there.

Kim said...

Elizabeth Warren has a really good head on her shoulders. She seems to be the only one being truly honest about the credit card industry's tactics.

It is so tempting to skip using the credit card when you hear how devious they are being to even those who pay off their balances every month (like us). That business of switching the due date on payments is just plain evil! I am seriously considering going back to cash and checks.

Grafted Branch said...

I heard that interview! Unbelievable! We have not carried a credit card balance for many years, but we do use certain cards for online purchases to better track where are numbers are going.

The card I've held for nearly 20 years became bothersome suddenly -- we kept getting "dinged" for late fees on bills we never saw. We always called and begged for mercy, and it was usually extended with charges reversed.

Now I'm thinking they were moving our dates around or shredding the bills/payments...something wasn't right. I'm wiser now.

Grafted Branch said...

Yeah...make that, "where OUR numbers are going." First time commenting. Feeling really embarrassed. ;)