{"id":3922,"date":"2015-03-24T14:55:45","date_gmt":"2015-03-24T18:55:45","guid":{"rendered":"https:\/\/www.duck9.com\/?p=3922"},"modified":"2015-07-08T16:49:12","modified_gmt":"2015-07-08T20:49:12","slug":"a-celebration-and-party-to-commemorate-zero-college-students-dropping-out-due-to-a-15000-capital-one-credit-line","status":"publish","type":"post","link":"https:\/\/www.duck9.com\/blog\/a-celebration-and-party-to-commemorate-zero-college-students-dropping-out-due-to-a-15000-capital-one-credit-line\/","title":{"rendered":"A Celebration and Party to Commemorate Zero College Students Dropping Out Due to a $15,000 Capital One Credit Line"},"content":{"rendered":"
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By Larry Chiang<\/div>\n
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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.<\/div>\n
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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.<\/div>\n
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It’s time to celebrate that at an industry conference<\/div>\n
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Source media hosts Card Forum<\/div>\n
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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.<\/div>\n
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\"\"<\/td>\nLarry Chiang (@LarryChiang<\/a>)<\/b><\/td>\n<\/tr>\n
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4\/2\/12, 6:53 AM<\/a><\/div>\n
Credit Execs. Undergrads. Gain a tactical advantage. READ\u00a0#HR627<\/a>\u00a0thomas.loc.gov\/cgi-bin\/query\/\u2026<\/a>:<\/div>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

Card Act precurses the LCECSPA<\/p>\n<\/div>\n

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Larry Chiang Electronic Credit Score Protection Act (LCECSPA)<\/div>\n
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\"\"<\/td>\nLarry Chiang (@LarryChiang<\/a>)<\/b><\/td>\n<\/tr>\n
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3\/24\/15, 8:11 AM<\/a><\/div>\n
April 8-10
\nChicago. Those who abide by the spirit of the Card Act #HR627<\/a>, bill co-author #LarryChiang<\/a>‘ll be there paymentssource.com\/conferences\/ca\u2026<\/a><\/div>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n
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Chris Peacock with Larry Chiang, me, CEO of Duck9<\/div>\n<\/div>\n
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Duck9 helps college students charge the banks to lead generate themselves. Here is the exact business model<\/div>\n
– Banks pay $300 per new lead<\/div>\n
– students get $150 for 6, on-time payments and another $150 when they hit 24 on-time payments (which is a FICO of 750<\/div>\n
– the $300 is held in #InternalEscrow inside one of 3000 branch locations<\/div>\n
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There is only one deal<\/div>\n
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The card forum party is at Westin april 8, 2015<\/div>\n
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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)<\/div>\n
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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 […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[43,34],"tags":[],"class_list":["post-3922","post","type-post","status-publish","format-standard","hentry","category-cs-major-ceo","category-student-credit-score-fico"],"post_mailing_queue_ids":[],"_links":{"self":[{"href":"https:\/\/www.duck9.com\/blog\/wp-json\/wp\/v2\/posts\/3922","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.duck9.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.duck9.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.duck9.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.duck9.com\/blog\/wp-json\/wp\/v2\/comments?post=3922"}],"version-history":[{"count":0,"href":"https:\/\/www.duck9.com\/blog\/wp-json\/wp\/v2\/posts\/3922\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.duck9.com\/blog\/wp-json\/wp\/v2\/media?parent=3922"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.duck9.com\/blog\/wp-json\/wp\/v2\/categories?post=3922"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.duck9.com\/blog\/wp-json\/wp\/v2\/tags?post=3922"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}