Banks new trick. WARNING

iVillage Member
Registered: 11-17-2007
Banks new trick. WARNING
7
Tue, 09-09-2008 - 9:24pm

Hey ladies,


I am always getting these checks in the mail about cheap money most are around 3.9 or above.

Avatar for meandmypea
iVillage Member
Registered: 03-27-2003
Tue, 09-09-2008 - 9:52pm
Wow! I have never heard of that either. Thanks for the info. I'll definitely look closer before considering offers like that from now on.
Bridget



Bridget
iVillage Member
Registered: 07-26-1999
Tue, 09-09-2008 - 11:42pm

That is awful, especially since all your payments go to the balance transfer before they pay off current charges, and I bet the interest on the current charges is a lot more than 3.9 you get for the balance of the loan.

I might still do it, by charging 12 packs of bubble gum or something over two years....

Such a great warning.

iVillage Member
Registered: 03-17-2003
Wed, 09-10-2008 - 12:04am
I'm gonna start
iVillage Member
Registered: 01-23-2007
Wed, 09-10-2008 - 6:03am

Very interesting. Now I wonder if that's what happened to me a few months ago...

I've since refinanced and got rid of the card. I should have called them but I was too upset to trust them. Now my mortgage has been sold and, guess what?, my new mortgage holder is Chase.

Dee


Avatar for cl_beckymk
iVillage Member
Registered: 03-19-2003
Wed, 09-10-2008 - 8:09am

Interesting.

iVillage Member
Registered: 01-25-2006
Wed, 09-10-2008 - 10:04am

Discover has had similar products in the past few years but didn't generally hide it in the fine print.

iVillage Member
Registered: 08-22-2008
Wed, 09-10-2008 - 10:44am
Good for you for catching that!