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Tag: Card

The First Victim Of The Ruble Crisis Offers A Bruce Willis Credit Card

Trust Bank, a small Russian lender, was bailed out by the country’s central bank on Monday. It is the first financial institution to be rescued since the collapse of the ruble, and the only to offer a Bruce Willis MasterCard.

The front page of Trust Bank's website has three Bruce Willises.

Via http://trust.ru

Via Reuters:

Russian mid-sized lender Trust Bank is to receive up to 30 billion rubles ($ 530 million) from the central bank to stop it going bankrupt in the first bailout of its kind during the current rouble crisis.

The central bank said its Deposit Insurance Agency, responsible for managing crisis-hit lenders, would take over interim supervision of Trust Bank as of Monday.

The Russian financial sector is being hit on multiple fronts. Financial sanctions, imposed in the wake of the country's annexation of Crimea, limit the ability of the banks to borrow in international markets. Meanwhile, the value of the ruble has halved in recent months, and the country's economy is sliding into a recession.

Any of these factors alone would stress a banking system, but in combination, they could be devastating. “Today, I can say that we have entered or are entering a real, full-fledged economic crisis,” said former Finance Minister Alexei Kudrin in a press conference on Monday.

The government is already preparing to inject funds into the banking system, and on Friday the lower house of parliament rushed through a draft law that would direct up to 1 trillion rubles ($ 16.5 billion) into the banking sector.

So many Bruce Willis pictures.


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BuzzFeed – Business

Your Credit Card Could Be Costing You More Than You Think (If You Have The Wrong One)

It’s common knowledge that making a credit card’s minimum payment each month will get you nowhere, but which cards will bury you in an avalanche of debt the fastest? Here’s a look at the penalty rates for some of the most popular credit cards.

kieferpix/kieferpix

Everyone knows, or should know, that if you make the minimum payment on a credit card each month you will only dig yourself further into debt with no escape in sight. But for some credit cards, the penalty and interest fees imposed can exacerbate this process at quite an alarming rate.

A survey of 100 cards by CreditCards.com found that while the average penalty rate—charged for late payments of 60 days or more—is down slightly, from 28.6% in 2012 to 28.45% this year, the fee can still be a big hit to people who carry a credit card balance and the resulting interest charges.

The Federal Reserve estimates the interest rate is 11.82% for the average balance-carrying credit card holder. When you factor in the 28.45% penalty rate, that means someone with a $ 4,000 balance would have to pay $ 665.20 per year in interest if he or she missed just two payments.

While not all credit cards have penalty rates, the majority—60%—do, and at varying fee levels. Here's a look at how some of the most popular credit cards stack up when it comes to the potential for crushing debt through each of their penalty rates.

Choose wisely. Or, better yet, try not to miss a payment.

American Express: 27.24%

American Express: 27.24%

Mike Blake / Reuters

Most American Express cards charge a 27.24% penalty fee. This includes the Blue, Blue Sky, Gold and Platinum Delta SkyMiles, JetBlue, Starwood Preferred Guest, and Costco program credit cards.


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BuzzFeed – Business