Tuesday, September 23, 2008

Credit Matters Will Begin to Look More and More Like a Traditional Blog


When I first started writing this blog, back in early July, I treated the blog like a newspaper. Actually, I treated it more like a column, which could be found in a newspaper. I wrote a story once a day. Given my journalism background, it was a natural thing for me.

However, I have received feedback over the past month or so that makes me think it's time to take this blog to its more natural state. I have written about 70 or so "staple" pieces over the past three months. I've covered all of the nuts and bolts of credit.

Recently, though, I started to realize that I'm doing more talking than actual teaching. It's getting tougher and tougher to find something to write about. That simply means that I have covered most of the stuff that you'll find useful. I imagine that if you read the 70 or so stories that I have on the site right now, you'd know more than 99% of the U.S. population when it comes to consumer credit.

Tomorrow's story (which will be published at 12:01 AM ET) will be the culmination of this blog's efforts to educate you. It's titled: "Realizing You Have Enough Credit is Like Porn: You'll Know it When You See It." I think you'll find it interesting.

Anyhow, beginning this week, you'll begin to notice a change in direction for Credit Matters. There will be more daily dispatches (of current credit events) -- and fewer actual columns written by me. To be sure, I will still be writing pieces from time to time, but they'll be more sporadic. I won't be writing a column every single day -- as I have been for the past three months.

I'm hoping that, even though things will be a little different around here, you'll still continue to visit the site. I'll continue to educate you -- but I'll do it in a different manner.

About an hour ago, I posted something about a Wall Street Journal story on bankruptcy. These are the kinds of things I'll be highlighting throughout the day. I'll also be editorializing as well.

40 comments:

Anonymous said...

You go girl

Credit Matters said...

Haha. Should be a lot more action around this site during the day too. You'll be able to read my longer stories while also getting the daily dish.

Should be fun.

The Lion said...

I think it sounds great! I am still making my way through the articles I missed and WOW there is so much information here!

Credit Matters said...

Lion, that very thing occurred to me last night as well. I had been thinking about this change for a few weeks, but wanted to make sure that I had written everything I wanted to touch on. I figure there is enough here for anyone.

I believe that if you started from the first day of my blog -- and read all the way to today -- you'd be set.

Bob Wang said...

Do I still get an A?

Credit Matters said...

Bob, you're an A student. You need not worry.

Bob Wang said...

Whew!
Thanks, I can sleep better tonight. ;-)

Credit Matters said...

Yes, bob, you'll get your fill tonight at midnight. A nice column on when you've got enough credit.

Anonymous said...

Sounds good to me. You can refresh the old topics from time to time as the ever changing rules of the game stray far enough from the norms.

e.g. If FICO ever changes AU calculations.

Lynn said...

"Realizing You Have Enough Credit is Like Porn"
For me it was when, I had more bills than money!

Jake said...

You could always do interviews.... like an underwriter from several companies. If you do..... please remember to include Amex.

Credit Matters said...

Jake, no dice. Underwriters will not speak to me -- or any other reporter. They're not going to reveal their secrets.

Wish they would. But they won't.

The Lion said...

I just noticed your picture over there...you look nothing like what I thought...nice suit!

Credit Matters said...

Lion, I continue to change pictures. May be a different suit that you're referring to. I have about 12 of them!

The Lion said...

I have a "slight" soft spot for men in suits...all suits are good suits.

Credit Matters said...

Lion, maybe I should have an online fashion show!! LOL. I'll rotate a new picture each day.

Cosmo's human aka HM said...

Porn = too much credit...sign me up...just kidding! I'll look forward to the changes. I have nearly been a daily reader here and have learned quite a lot, and it's nice to see your picture as well. You are quite the looker.

I have been managing to keep my head above water and I sure hope things do not become worse. I'm employed by a non-profit organization who I hope is immune to lay-offs, but I still worry a great deal. I have seen my self directed 403(b) lose big time the past week. Yet, Cap 1 just raised my limit (I didn't request) and Wamu sent me a "special offer" for lower interest if I shop the next few months. So far, I haven't taken them up on the offer. I don't need anything right now, but well I do need someone who can help me work on a budget, but I trust few people right now, so I am on my own.

Jake said...

Come on!!! Just ask really, really.... really nice. It's not like I want to know personal details and stuff like that.
I'm curious what kind of training they have, how the risk model has changed, reasons to take AA and so on. Not trade secrets, LOL! I'd also loke to know how they arrive at credit limits, LOL! No big deal!!

Credit Matters said...

Heya, Cosmo, nice to hear that you're seeing some love from the card companies. I'm being very careful about accepting anything from them these days. Don't want to catch something!!

Regarding my looks, ahh, shucks. Thanks. It's really the suit that does that. I usually wear shorts and flip flops year round. No one looks twice!

Meanwhile, hang in there. Work that budget of yours. You'll be fine.

Credit Matters said...

Jake, you're killing me. I have to admit, you have a great sense of humor. We can barely get analysts on the phone to talk about our credit limits.

Seriously, if you are interested in their training, you should check out the help-wanted ads for analysts. A lot of banks post job listings for risk managers and analysts.

If you find one, be sure to post it here.

surfer8210 said...

Hi there Marcus. Do you suppose that there could be a link to Creditboards on your site for those folks who might arrive to your excellent site and never know that Creditboards exists? Pity for them right..? Or perhaps a link section to direct those folks to areas or sites which you feel might be of value to them?
Thanks again Marcus for you contributions and generosity.

Credit Matters said...

The site is in constant flux, Surfer. Moreover, I mention creditboards in my stories quite a bit. I don't have a blogroll or favorite sites area. I am in the middle of cleaning the site right now. As you can see -- there are some changes taking place even as we type these notes.

In the future, I will likely link back to CB.

Jake said...

I'm gonna find one that will allow themselves to be interviewed by you. It will take a while but finding an underwriter really won't take that much time. Messed up thing is all the people I know are in insurance so it will take annoying one of them to find someone in banking that can talk. The local credit union might help, haven't annoyed any of them in a while.

Credit Matters said...

Jake, well good luck with that. Not trying to blow you off, but these people have NO incentive to talk with me.

After many, many years of being a reporter, trust me. These people aren't going to talk with me.

savemanatees said...

First...give Justice Potter Stewart his just desserts for the "I know it when I see it" line...he wasn't usually one of the most humorous of the SCOTUs group at the time.

Secondly...starting your new blog life with something referring to bankruptcy is very timely. Bloomberg News named Bankruptcy as the "boom business for 2008." Little did they know!

savemanatees said...

When reforming the bk laws comes up in the news which it will soon as that is the only way to include consumers in a fair housing 'bail out'....I can't wait to point out how ignorant the financial pundits actually are about the bk laws. I will have lots of fun picking them off though.

Credit Matters said...

Potter Stewart will get his due, manatees.

I have that blog post up, but no one has commented. Makes me think we're a bit early here. But that'll all change. Eventually.

Jake said...

Who knows what they'll end up doing to bankruptcy laws.... especially considering the govt may end up securing or even owning the paper. You can't go BK on student loans already they could very easily make further changes to protect the stupid investment. I mean really?! Who among us would buy bad loans at a premium? It would be totally different if they didn't know most of them would end up foreclosed but jeez!!

We're all going to pay for this. Every aspect of our credit lives will somehow be affected by this nonsense and there's not a darn thing we can do.

savemanatees said...

Before BACPA (bk reform 2005) private student loans were dischargeable. Federal loans were non-dischargeable. Right now the private lenders are squeezed just like all the rest of them. They are still lending though. There is talk about making them dischargeable in bk again, though. So throw Sallie Mae in the mix.

Don't forget about Detroit....they are already in line with their hands out.

The politicians are going to keep pushing for the "lien strip" or "cram down." There were four bills floating around the house and senate with various versions of this type of reform. Then that silly housing bill Bush signed...the Freddie/Fannie bailout...under the hysterical auspices it was to help beleagured homeowners. It is projected to help 400,000...out of a possible future 6MM more foreclosures.

They all only referred to Chapter 13s. BUT if the Street gets a 7 with 11 zeros behind it bailout...the consumers should get the ability to cram down in either a Chapter 13 or a 7 IMO. The guvvies are going to discount the paper anyway...it would make sense to allow the individual consumer to do the same in order to stay in their homes.

BK reform of 1988, I believe, changed the statute that allowed a 'bifurcation' or a 'lien strip' on a primary residence mortgage in a Chapter 7 but it remained allowed in a 13.

Now you can 'lien strip' a wholly unsecured junior in a 13. So your mortgage gets divided into the wholly secured first mortgage and the wholly unsecured junior mortgages. The unsecured portion gets nothing or pennies on the dollar in a 13.

Right now the 9th Circuit (the largest) the CA cases are churning on valuation hearings. If you have a senior and juniors with the same lender chances are good they can protect at least their second from being wholly unsecured.

So much for laizzez-faire economics.

LBCS said...

I recieved your news updates earlier today and was wondering what was up. I like this new direction. Hope all is well.

Credit Matters said...

LBCS, did all of the emails distract you? Do you think my readers would prefer to get one daily dispatch at the end of the night -- after I post my last entry? Or you think they would want an email each time I publish a new entry?

LBCS said...

Savemanatees,

I have seen your replies on the Bankruptcy forum and am always amazed by your helpful attitude and knowledge. You are a rare individual indeed. Thanks for all your help.

The Lion said...

I like the whole idea of emailing as they post. But that is just me.

Credit Matters said...

I'll need to hear from more people. I personally like the idea of getting an email each time as well (but that's me; I like to be right on top of everything).

That said, I understand people not wanting to have their emailboxes flooded with Credit Matters dispatches throughout the day.

LBCS said...

CM - Personally, I don't mind getting a email each time you upload a article. But it is probably best to offer subscribers a choice.

Credit Matters said...

LBCS, I have quite a few subscribers. You have a suggestion on how I might poll my subs? My email-alert service does not allow me to segregate those who want all of the stories at once (at the end of the day) or those who want each and every one of them as they are published.

Suggestions are welcome.

LBCS said...

CM - Why not wait up and see which way the wind is blowing and then decide? Unfortunately I do not have any suggestion about email alerting services.

Credit Matters said...

LBCS, for now I figure that I will just email as new stories come out. Those who don't want it that way, will opt out.

I can't think of a better solution. And I figure those who don't want it that way will let me know.

Anonymous said...

Idea for a topic I'd be interested in hearing about....2 cycle billing and how/if it affects grace periods, etc. I'm not clear on 2 cycle billing and how it all works, but more cards seem to be using it (Discover included I believe?)

Credit Matters said...

Thanks, Anon. I'll do it. Enough people seem to have questions about double-cycle billing that it makes sense to write something about it.

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