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