Relay-Version: version B 2.10 5/3/83; site utzoo.UUCP Posting-Version: version B 2.10.3 4.3bsd-beta 6/6/85; site sdcc6.UUCP Path: utzoo!watmath!clyde!burl!ulysses!mhuxr!mhuxn!ihnp4!houxm!mtuxo!mtunh!mtung!mtunf!ariel!vax135!timeinc!phri!pesnta!amd!amdcad!decwrl!decvax!ittvax!dcdwest!sdcsvax!sdcc3!sdcc6!ix21 From: ix21@sdcc6.UUCP (David Whiteman) Newsgroups: net.consumers Subject: Re: WARNING! "FREE" VISA Message-ID: <2135@sdcc6.UUCP> Date: Mon, 1-Jul-85 04:31:04 EDT Article-I.D.: sdcc6.2135 Posted: Mon Jul 1 04:31:04 1985 Date-Received: Wed, 3-Jul-85 08:13:32 EDT References: <633@homxb.UUCP> <64800001@haddock.UUCP> Reply-To: ix21@sdcc6.UUCP (David Whiteman) Organization: None Lines: 13 The earlier warning about the First Deposit Savings Bank "Free Visa" was not strong enough. The finance charges on transactions start on the day of purchase not the day of transaction. Which means you are paying for float money that the bank is not paying you. In other words if you buy something today and the merchant leaves the charge slip in his register for a week, (which many merchants do because they need a minimum number of charge slips to turn in), you are paying interest for that week before it is posted. -- ---- David Whiteman, University of California, San Diego