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In The Media

A Celebration and Party to Commemorate Zero College Students Dropping Out Due to a $15,000 Capital One Credit Line

by Larry Chiang on March 24, 2015

By Larry Chiang
Back in 2007, the drop out rate was into double digits. Lol, Capital One would issue $15,000 credit lines to students with zero income (I’ve reached out to Capital One executives and am waiting for a callback). Students would drop out of university in droves.
Today, in the era of The CARD Act, students no longer drop out. Students credit lines max out at $300 and this academic year is the first year, zero students have dropped out due to credit card debt.
It’s time to celebrate that at an industry conference
Source media hosts Card Forum
Steve Streit ushered in a new era where founders were no longer fired by Sequoia. It was a VC notorious for firing founders. Don Valentine, Mike Moritz would force founders to drop out. For example, Sandy Werner, founder of Cisco. Today, few founders are automatically dismissed.
Larry Chiang (@LarryChiang)
Credit Execs. Undergrads. Gain a tactical advantage. READ #HR627…:

Card Act precurses the LCECSPA

Larry Chiang Electronic Credit Score Protection Act (LCECSPA)
Larry Chiang (@LarryChiang)
April 8-10
Chicago. Those who abide by the spirit of the Card Act #HR627, bill co-author #LarryChiang‘ll be there…
Chris Peacock with Larry Chiang, me, CEO of Duck9
Duck9 helps college students charge the banks to lead generate themselves. Here is the exact business model
– Banks pay $300 per new lead
– students get $150 for 6, on-time payments and another $150 when they hit 24 on-time payments (which is a FICO of 750
– the $300 is held in #InternalEscrow inside one of 3000 branch locations
There is only one deal
The card forum party is at Westin april 8, 2015
The networking at Retail Banking Conference in Austin Texas at Hyatt Regency was amazing. Richard from JP Morgan, Amanda from B of A, TJ and me (I’m the Chinese one)

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