I want something that will be able to shred a bank or credit card statement without having to take it out of the envelope.

We got this guy:

http://www.costco.com/Browse/Product.aspx?Prodid=11746705&whse=bc&topnav=national&cat=53438&hierPath=71137*53438*&lang=en-US

and it crapped out on us. Admittedly we were behind on our shredding and had to play catch up when we bought it.

The specs on that one seemed fine. I was just disappointed in how long it lasted.