Relay-Version: version B 2.10 5/3/83; site utzoo.UUCP Posting-Version: version B 2.10.2 9/3/84; site aluxe.UUCP Path: utzoo!watmath!clyde!burl!ulysses!mhuxr!aluxe!2141smh 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 **** **** 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.