Pennylicious bills itself (no pun intended) as, “Finally, a funny money blog!” And usually, it is. Today, though, they post about the states where credit card companies are chartered, referring to a map from Frontline’s excellent show, Secret History of the Credit Card. The map shows that the credit card companies have chosen states with no or very lenient usury limits, so they can charge all of their customers — in any state — very high levels of interest.
Pennylicious! I am missing the funny in that post! And the previous post was about money from concentration camps! Come on, you guys!
(Seriously, they usually have great posts, and if there ever was a topic that needed funnier blogs, it’s personal finance. Pennylicious and Stop Buying Crap are both fighting the good fight. Today’s post wasn’t funny, but it’s good info — that Frontline report was excellent.)