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2003-05-17 17:37:21 ET
It's the fine print that gets me. It's is the way they word it. And it is the fact that most ppl don't notice.
I guess if you can't figure out how much you are paying on interest you deserve to pay it. I helped a friend figure it all out and he was paying about $3,000 a year just on interest. He called to cancel the card after he paid it off, and they told him that they would lower the rate if he stayed. Which they did but four months later it was higher than it was before.
I bought a laptop at best buy and put it on an account with no interest. $100 payments. What I didn’t read (the fine print) was the part that told me:
once I was late on a payment I had to pay 21% interest monthly on the remaining balance. I was only dropping my balance 4-5 dollars a month after putting a check for $109 in the mail. NAZIS.
So my point is "be careful" |
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