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From: 2141smh@aluxe.UUCP (S. M. Henning,)
Newsgroups: net.consumers
Subject: Re: Credit Cards (correction)
Message-ID: <645@aluxe.UUCP>
Date: Mon, 21-Jan-85 09:37:03 EST
Article-I.D.: aluxe.645
Posted: Mon Jan 21 09:37:03 1985
Date-Received: Tue, 22-Jan-85 05:21:41 EST
References: <150@lcuxc.UUCP> <623@aluxe.UUCP>
Organization: AT&T Bell Laboratories, Allentown, PA
Lines: 17

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From the keys of Steve Henning, AT&T Bell Labs, Reading, PA aluxe!2141smh
> 
> Consumers only reported on interest rates, not on membership charges other than
> the charges of those banks that have the highest and lowest interest rates.
> Personally I will never pay a bank interest for consumer credit.  There is
> much cheaper money readily available so the article was of little help to me.

Clarification: Our credit union and even most of our local banks have loans much
cheaper than the rate you pay under the credit card plans.  I gladly take the
30days free credit, but that is all.  Some gas cards charge interest every month
you use the card after you had a month with a legitimate balance left over.
At least I haven't run into a bank that does this. Anyone with whole life has
a source of extremely cheap money.  If you are going to borrow you might as
well pay the interest to yourself, your cash value.  Even stores usually have
a credit plan for furniture and other big ticket items that beats the bank
charges for credit card loans.