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MasterCard goes IPO

What does this mean for people who have MasterCard? MasterCard raised $2.39 billion dollars in its initial offering this week. That’s a lot of cash. To give you and idea of how big this IPO was, Google raised $1.7 Billon in its initial offering.

So what does this mean for the average guy who has a MasterCard in their wallet? Well I guess this depends on your credit record.

If you have good credit it probably means you will get more great offers.

If you have bad credit it means they are now a publicly traded company that’s all about the bottom line. Which means they will need to make sure they stem any loses they face from late payments and charge offs. So I think you will see an increase in late charge fees, more aggressive collection actions and increase in interest rates on those who have less than perfect credit. But this is just a guess on my part.

By JOE BEL BRUNO of AP The reports the funds will be used in the following way; “MasterCard is expected to use its new status as a public company to expand globally, and move into higher growth businesses within the payment industry.”

Only time will tell. So please do all you can to get your cards current and paid off.

This entry was posted on Thursday, May 25th, 2006 at 8:58 am and is filed under General News . You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.