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Author: RetiredVermonter Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 308883  
Subject: Re: Umm Did I just do something stupid? Date: 11/6/2003 5:08 AM
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Joel:

Not really... The 3.9%BT rate is considered a promo or teaser rate, even though it's for the life of the balance. They're just hoping I'm enough of a fool to actually charge something on the card once I have this balance there. Fortunately, I'm Foolish enough to know better.

Right.

Sort of like when I inquired of AmEx about their "blue card" offer of 5% kickback (or whatever you want to call it) for charges. I asked if I could use the car, maybe for LARGE expenses (as for our home addition, lumber, etc.) but PAY IT OFF EVERY MONTH. Her reply made me stifle a laugh: "Oh, we expect you to carry a balance, of course. If you don't, then your rebate at the end of the year will be something, but a lot less."

In other words, if I charge a lot and do NOT pay it off monthly, presumably then also paying several percent interest/finance charge they eventually levy on me for the balance, they'll turn around and give me 5 percent later!?

Ummm... lemme think now: If I run up a $5,000 tab, pay a little monthly, and pay THEM maybe 12% interest, they then pay ME 5% rebate later? Gee -- such a deal!

Yeah, you hafta wonder sometimes if they assume we're ALL stupid or what! ;#)

Vermonter

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