Last Thursday’s RS:Live! conference call about credit cards, credit lines, and all associated perplexities was nothing short of fascinating. Richard Bodin is a walking encyclopedia when it comes to understanding how credit functions behind the big curtain. Utilizing his one simple suggestion about what to do with a large credit card balance could make the difference between staying afloat and sinking like an anvil.
Richard’s a big believer in regionally based banks, given their typically conservative approach to investing. Most experienced little or no fallout from predatory loaning and high risk mortgages since they didn’t go there to begin with.
I saw that theory take shape throughout eastern and mid-Nebraska over the holidays. Various Chambers of Commerce throughout the region ran radio spots touting the many ways their communities were not being negatively impacted. From rock-bottom foreclosure rates to growing employment rates, the statistic-laden PSAs provides exactly the calming influence the public is hungry for.
And, as is frequently the case in more rural and agricultural states, residents of those communities bank with local institutions.
Want to know more about local banking…what Richard’s “one simple suggestion” was…the ups and downs of debit vs. credit card transactions…and the name of the single best merchant account processor on earth? You’ll have to log into the RetailSpeaks email system, and you’ll have to be an RS member to do it. Definitely worth the $40 dues.
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