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January 21, 2009 - Image 10

Resource type:
Text
Publication:
The Michigan Daily, 2009-01-21

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Magazine Editor:
Jessica Vosgerchian
Editor in Chief:
Gary Graca
Managing Editor:
Courtney Ratkowiak
Photo Editor:
Sam Wolson
Multimedia Editor:
David Azad Merian
Junk Drawer:
Brian Tengel
Center spread design:
Angela Chih
Cover photo:
Anna Bakeman
The Statement is The Michigan
Daily's news magazine, distrihuted
every Wednesday during the
academic year

new rules
rule 173: In
deeper than two
feet of snow,
there is only one
rule in street
parking: if you
can get in and
out, you're good.
rule 174: True
artists would
never be cen-
sored by a city
graffiti ordinance.
rule 175: "Tech-
nical difficulty"
isn't a reason-
able excuse to
warn students of
a highly conta-
geous norovirus
three days late.
- E-mail rule submissions to
TheStatement@umich.edu

THE EDITOR'S NOTEBOOK with Jessica Vosgerchian
A look at the big news events this week and how important they really are. Conveniently rated from one tol0.
OUR PRESIDENT IS BLACK
History was made, replayed and weighed yesterday as Barack Obama
was inaugarated as the first black president oftthe United States. A
crowd of tens of thousands, crying and cheering, made pilgrimages to
10 D.C. to see it first hand. There, Obama setthe course for the country,
artfully disparaging Bush's tenure without a single overt attack. Rever-
end Joe Lowry gave an impassioned benediction, wherein he rhymed
"yellow man" with "mellow, man." And Dick Cheney also did what he
does best and nodded-off in the corner.
GRADUATE TO GOOGLER
University President Mary Sue Coleman announced that Larry Page,
the founder of Google, will deliver the commencement address at
this spring's graduation ceremony. Page, who graduated from the
University in 1995, will not be taking resumes - much to the dismay
of 2009's many jobless graduates. He will, however, be throwing
back shark bowls at Rick's.

THE 3.9 GPA PLAN THE FACEBOOKER CARD
The mtvU Platinum Select Visa offers the chance Only available to people with Facebook accounts,
to earn "Thank You Points" - a reward system Chase bank offers Chase + 1, which comes equipped
tailored for young people that goes toward movie with a detailed Facebook fan page and a catalog of.
tickets, home appliances and even student loans rewards that can be bought with Karma Points.
rebates or tickets to the MTV Music Awards. Does paying your credit card off on time mean good
These points are awarded for making purchases, karma? Evidently. Does Chase know how to market
paying bills on time and earning a good GPA. You to the Facebook generation? Obviously. Chase + 1
can earn up to 2,000 points per semester for your is excessively marketed to young people. To satisfy
pristine report card, 25 points for every timely our need for immediate gratification, Chase + 1
payment and between 1 and 5 points per $1 spent rewards 20 Karma Points - enough for a Cat Power
in everyday purchases. The upside this program is CD. You can get another five points for passing a
that the "Thank You Network" offers a wide variety credit education quiz, two points for every timely
of earnable rewards and isn't just limited to "young payment and eight points for a six-month spree of
people" products. The downside is it might take good behavior. Chase + 1 on Facebook offers advice
some time to earn the 10,000 points to earn a $100 on spending with credit, as well as the opportunity
rebate toward your student loans, to donate points to charity as dollars or share points
, ,~, , , , , ... . ; , ,, ,# with your friend who says he needs that "Flight of
the Concords" season DVD immediately,

ACTUAL CASH BACK
The Discover Student Card has one of the few
rewards programs in the reach of credit novices
that offers actual money as an incentive. With
Discover's Cashback Bonus, you can earn back
up to 1 percent on general purchases and up to 5
percent on purchases made in specific categories
like gas stations, restaurants and travel that change
four times a year. Getting cash just for spending
sounds like a great deal, but for general purchases
you'd have to spend at least $3,000 to reach the 1
percent threshold - that's right, $30. And for the
novice cardholder, this credit plan contains several
snares that could cost you more than $30 pretty
fast. Discover calculates the annual percentage
rate using the "two cycles average daily balance,"
rather than the standard one cycle method. This
means that an outstanding balance from one month
will come back to haunt you the next - even if you
paid it off, the interest rate that resulted tram that
balance will be figured into the calculation of your
interest charge far the second month,
FINE PRINT
POSITIVES
No annual fee
25 days to make payments
NEGATIVES
Two cycle average daily balance
14.99 percent annual percentage rate

FINE PRINT
POSITIVES
No annual fee
No interest charge for six months
anreasonable 12.24 percent interest rate

FINE PRINT
POSITIVES
No annual fee
No interest charge for three months

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