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Strategies & Market Trends : Mish's Global Economic Trend Analysis
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To: mishedlo who wrote (10063)7/31/2004 12:58:19 PM
From: Tommaso  Read Replies (2) of 116555
 
He does not realize that the card will require large monthly payments every month and that there will be big penalities for late payments, and that furthermore the interest rate will be raised to perhaps 15%--maybe more-- retroactively if he misses a payment. I guess if he can arrange for automatic monthly payments he will come out ahead--or if he can make sure to pay the minimum each month. But it seems to me a lot of finagling to save a few hundred dollars and possibly risk getting hit with penalities much higher than the savings.
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