"Ron Logan" (born 1939) is a former executive vice president of Walt Disney Entertainment (now Walt Disney Creative Entertainment). After retiring from the company in 2001, he is now a professor at the University of Central Florida Rosen College of Hospitality Management in Orlando, Florida, United States.

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Right now the competition is such that zero fee in the first year is the most common thing you'll see.

While profit may not be immediately possible, this is something that will develop over the next few years. Crucial to achieving this is ensuring that the percentage of active cards grows along with revolving balances.

HSBC has an agreement that when the regulation allows, half of the cards business can be bought on an agreed formula, and it can become a proper joint venture.