Joe wrote:
>> I see it all the time - furniture, spas etc -
>> NO payment until some time waay in the future.
>> What's the catch?
>> Has anyone ever successfully purchased anything this way?
>> My neighbor swears he has done this and never a problem.
>
> Bought a living room set this way a few years ago.
>
> Bought a washer and dryer this way recently.
>
> All paid before the due date... No problems.
>
> But, don't be even a second late on a single payment or... $$$ collection
> goes wild!
Which, of course, is what they are counting on. A few years ago I got
a credit card with 1.9 percent for the first 6 months is minimum payment
was made on time each month. Made plenty of purchases, paid the minimum
and put the money I would have spent in an interest earning account.
A few day before the 6 months ended I walked the full balance into a
branch of the bank.
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>> NO payment until some time waay in the future.
>> What's the catch?
>> Has anyone ever successfully purchased anything this way?
>> My neighbor swears he has done this and never a problem.
>
> Bought a living room set this way a few years ago.
>
> Bought a washer and dryer this way recently.
>
> All paid before the due date... No problems.
>
> But, don't be even a second late on a single payment or... $$$ collection
> goes wild!