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Personal Finances / Credit Cards and Consumer Debt


Subject:  Re: Payment Holiday Date:  4/27/1998  1:22 PM
Author:  TMFDeal Number:  1276 of 312185

<<My credit card company has a new scheme to get you into debt. They informed me that since I have been so good at paying off my cards, I deserve a payment holiday and don't have to send them a minimum payment. Of course if you look at the small print, interest will still accrue during the payment holiday. It appears they are frustrated that they can't collect finance charges from me.>>

Yeah, I noticed this trick myself when I was coming to the end of a teaser rate period. They really wanted the balance to ride so that it would all carry into the higher rate. Nice try but you can't fool a Fool.

Fool on,

TMF Deal
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