Next time a checkout clerk offers you an "opportunity" to sign up for a store credit card so that you can get an instant 10% discount on that pack of gum or box of tissues you're buying, remember this: the price you'll pay for that deal is an interest rate as high as 25%. And, yeah, you're telling yourself that's no big deal, since you'll pay it off every month. But will you? And are you prepared for the other gotchas tied up in a bright ribbon by your friendly retailer?
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DelMarVa's Premier Source for News, Opinion, Analysis, and Human Interest Contact Publisher Joe Albero at alberobutzo@wmconnect.com or 410-430-5349
2 comments:
The interest rate will make no difference if you pay the card off each month. I do that with all my cards and get free stuff through for exampl my Delta sky miles AMEX. With this card I dont pay checked bag fees on flights with Delta, get free flights with my miles.
My Home Depot/ Chase card was 29% around 2005. I dropped it like a hot potato!
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