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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: FrozenZ who wrote (9916)3/11/2004 11:36:58 AM
From: Pacing The Cage  Respond to of 110194
 
Re:". I get "free credit card checks" in the mail almost every week to pay off my credit cards with and have 5.47% yearly interest on the balance for the life of it."

See what happens to that 'fixed' 5.47% rate if you are late on a payment or two. The 'fixed' rate will suddenly become 19%-21%.

Some card companies have even been caught and fined for holding payments that were made on time, just so they could collect late fees and raise interest rates. They are vultures.

"The banks are trying everything they can think of to create more debt."

We agree on that point 100%



To: FrozenZ who wrote (9916)3/11/2004 11:52:38 AM
From: ild  Read Replies (2) | Respond to of 110194
 
<<<The banks are trying everything they can think of to create more debt. >>>

Thanks to Greenspan their cost of funds is so low that they are willing to gamble and extend credit to risky people. One can easily amass over $100K in CC available credit lines. As of now I have about $60K in zero interest loans from various credit cards.


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