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Strategies & Market Trends : Mish's Global Economic Trend Analysis
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To: Crimson Ghost who wrote (24209)2/24/2005 8:15:06 AM
From: redfish  Read Replies (2) of 116555
 
One of their favorite tricks is to offer a card with a relatively low interest rate ... but if you are late with a single montly payment the rate jumps to 20%.

So now customer who has charged up $20k expecting to pay 9% has to come up with $4k a year just for the interest.
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