Better, bad ideas
It's Bettah bahhd ideahhs
WSJ mentioned the podcast today:
Sean O’Brien Has a Credit Card for You
The Teamsters offer a ‘privilege’ card with, er, sky-high interest rates.
"This year Mr. O’Brien hosted a podcast, aptly named “Better Bad Ideas,” with Missouri GOP Sen. Josh Hawley. “You’ve got a lot of our members, your constituents, who are paying 28, 29% on credit cards that they’ll never be able to pay off,” Mr. O’Brien said. Mr. Hawley has sponsored legislation with Bernie Sanders to cap credit card interest rates at 10%.
But maybe check with the finance department, Mr. O’Brien. His union sponsors a “privilege” credit card for its members with Capital One that charges rates well above Mr. Hawley’s cap. Customers with “fair or good” credit pay an APR of 27.49% that adjusts with market interest rates. Those with “excellent” credit don’t have to pay interest for the first 15 months—some might call this a teaser rate—but thereafter get charged up to 25.15% which can increase with market rates.
Late-payment penalties on the Teamsters cards can be up to $38. This is five times more than the Biden Consumer Financial Protection Bureau’s $8 cap. The Trump Administration asked a federal judge to vacate the cap because it would restrict access to credit for lower-income folks. A reduced penalty could also induce some borrowers to pile up debt.
Both Teamsters cards come with no rewards for users, unlike those sponsored by Amazon and major card issuers. But the rewards have been good for the Teamsters. The union has received more than $5 million in royalties from the Capital One card since 2021, according to Labor Department filings."
WSJ mentioned the podcast today:
Sean O’Brien Has a Credit Card for YouThe Teamsters offer a ‘privilege’ card with, er, sky-high interest rates.
"This year Mr. O’Brien hosted a podcast, aptly named “Better Bad Ideas,” with Missouri GOP Sen. Josh Hawley. “You’ve got a lot of our members, your constituents, who are paying 28, 29% on credit cards that they’ll never be able to pay off,” Mr. O’Brien said. Mr. Hawley has sponsored legislation with Bernie Sanders to cap credit card interest rates at 10%.
But maybe check with the finance department, Mr. O’Brien. His union sponsors a “privilege” credit card for its members with Capital One that charges rates well above Mr. Hawley’s cap. Customers with “fair or good” credit pay an APR of 27.49% that adjusts with market interest rates. Those with “excellent” credit don’t have to pay interest for the first 15 months—some might call this a teaser rate—but thereafter get charged up to 25.15% which can increase with market rates.
Late-payment penalties on the Teamsters cards can be up to $38. This is five times more than the Biden Consumer Financial Protection Bureau’s $8 cap. The Trump Administration asked a federal judge to vacate the cap because it would restrict access to credit for lower-income folks. A reduced penalty could also induce some borrowers to pile up debt.
Both Teamsters cards come with no rewards for users, unlike those sponsored by Amazon and major card issuers. But the rewards have been good for the Teamsters. The union has received more than $5 million in royalties from the Capital One card since 2021, according to Labor Department filings."
I have a teamster privilege card. It's not true that there are no rewards. I get 1.5% cash back and if we go on strike cap one will cut me a check for $500 that I do not have to pay back. I signed up for the card during the contract campaign cause it looked like we were going to strike the company and I wanted the $500. An added bonus is that when women see you hand a card with thunder and lightning on it to the bartender they will swoon over you.
I have a teamster privilege card. It's not true that there are no rewards. I get 1.5% cash back and if we go on strike cap one will cut me a check for $500 that I do not have to pay back. I signed up for the card during the contract campaign cause it looked like we were going to strike the company and I wanted the $500. An added bonus is that when women see you hand a card with thunder and lightning on it to the bartender they will swoon over you.
Looks like there are three card variants and the Cash Rewards gives the 1.5% cash back.
Id prefer if the union didn't sell my info to predatory credit card companies but whatever.
I mean, that was actually a pretty good episode.
He didn't even know how much a ups driver made.
It's a start, but he definitely wasn't prepared. Neither was his guests.
He didn't even know how much a ups driver made.
It's a start, but he definitely wasn't prepared. Neither was his guests.
It’s a little different everywhere, but yes, he was definitely way off
It’s a little different everywhere, but yes, he was definitely way off
I watched half of it
Sean releases every Wed. I release when I feel like it because Im a diva like that.
Most are especially the way most people use them
The origally advertised it as all American customer support
The origally advertised it as all American customer support
American customer support representative named Jaheel Patel?
Log in to reply.