41–50 of 54 posts
"I don't often talk about my life, but $company has asked me to" The talk seems identical to one he gave at Fed Talks 2013, and probably a bunch of other venues: https://www.youtube.com/watch?v=iJIc16aqpO8 It is a well practiced speech he gives.
You can tell he pretty much has it memorized. Still a great story.
A great story. What I do not understand (I am a European) is that he uses a credit card, but not a credit card. I just did an AirBnB and I was prohibited by the system to use my debit card. I was outraged. I still am. I had to buy a separate debit-credit-card to be able to use AirBnB services. AirBnB supports iDeal (Dutch payment system), but only for bookings >6 days. From my point of view, using a debit card is far…
From a general point of view: using a credit card responsibly will improve your credit rating. A debit card won’t. I had to explain this to a school friend recently as he has never owned a credit card and avoids loans - preferring to save first, then spend. When it came time to get a mortgage he couldn’t get good rates - or a large enough loan - as his credit history was so lacking. He was infuriated but I pointed ou…
He does mention it: by giving his sons a credit card, one benefit is that when they graduate college, Frank has essentially built their credit for them.
Earlier quoted context omitted.
The key is that it's somebody else's problem, not yours.
Sure. As a merchant myself, though, I cringe at generalizations that the bank eats the cost. Personally, I think they should, because they have access to the aggregate data that could prevent more of it. Because they take no hit for online fraud, however, they do almost nothing to make things better.
Although apparently it's a crappy protocol and it's used to shift liability to customers[1], so yeah, they could do better.
[1] http://www.cl.cam.ac.uk/~rja14/Papers/fc10vbvsecurecode.pdf
"I don't often talk about my life, but $company has asked me to" The talk seems identical to one he gave at Fed Talks 2013, and probably a bunch of other venues: https://www.youtube.com/watch?v=iJIc16aqpO8 It is a well practiced speech he gives.
> It is a well practiced speech he gives. You can tell he pretty much has it memorized. Still a great story.
"I don't often talk about my life, but $company has asked me to" The talk seems identical to one he gave at Fed Talks 2013, and probably a bunch of other venues: https://www.youtube.com/watch?v=iJIc16aqpO8 It is a well practiced speech he gives.
Earlier quoted context omitted.
Talks yes, telling his own story I don't think so. He specifically say that he rarely tells his story at the beginning of this.
See the link in my top level comment, he has had this recorded before.
Earlier quoted context omitted.
Sure. As a merchant myself, though, I cringe at generalizations that the bank eats the cost. Personally, I think they should, because they have access to the aggregate data that could prevent more of it. Because they take no hit for online fraud, however, they do almost nothing to make things better.
Well, they implemented 3D Secure. I've had to use it quite a few times for online purchases this year (I use an European CC, if that makes a difference). Although apparently it's a crappy protocol and it's used to shift liability to customers[1], so yeah, they could do better. [1] http://www.cl.cam.ac.uk/~rja14/Papers/fc10vbvsecurecode.pdf
A great story. What I do not understand (I am a European) is that he uses a credit card, but not a credit card. I just did an AirBnB and I was prohibited by the system to use my debit card. I was outraged. I still am. I had to buy a separate debit-credit-card to be able to use AirBnB services. AirBnB supports iDeal (Dutch payment system), but only for bookings >6 days. From my point of view, using a debit card is far…
You can immediately pay off your credit card balance if you so desire and credit cards (at least American ones) don't charge interest initially. So if you automatically have your credit card debit from your checking account each month there is literally no cost to you to use a credit card and only upside. The merchant is already pricing in credit card fees into their prices, so you should go with the payment instrume…
I don't know what it's like in the US, but at least in Sweden basically all credit cards have an annual fee.
Earlier quoted context omitted.
He spoke at my University and mentioned that he does talks regularly now - not sure if any other are recorded though.
Talks yes, telling his own story I don't think so. He specifically say that he rarely tells his story at the beginning of this.
Earlier quoted context omitted.
From a general point of view: using a credit card responsibly will improve your credit rating. A debit card won’t. I had to explain this to a school friend recently as he has never owned a credit card and avoids loans - preferring to save first, then spend. When it came time to get a mortgage he couldn’t get good rates - or a large enough loan - as his credit history was so lacking. He was infuriated but I pointed ou…
In other words, American banks extort their customers to go into debt with them early and often.
The more you demonstrate your ability to manage debt (and you can do that by simply paying off your card every couple of weeks) the better you demonstrate your ability to do so. More data points, so to speak.
Of course if you can't manage that then that's data too.