Do People Actually Pay This?

[mredskins]

Originally Posted by GMScud

Good post, and very true. What I do is as my 0% introductory rate offers are nearing an end, I find another credit card with a similar or higher limit with a fancy intro offer, open an account, and subsequently close the card with the expiring 0% offer. That way when I close one card and open another, my ratio either stays the same or gets better, depending upon the limit of the new card.

With the new laws coming into effect I hardly ever see these 0% balance transfer intro offers anymore.

[Bushead]

I work at Macy's and we are "encouraged" to really sign people up for credit cards. When you first get it, you get 20% off your entire purchase, which is really a good deal, but the interest rate is 24.5% I believe. If you miss one payment, you might end up losing all the savings you just got.

What's sad is that all you have to do is be over 18 to get one; there are many times I see high schoolers walking out with a new card (probably with a 75 or 100 dollar limit, but still) and thinking they saved some good money or their coupe of t-shirts purchase.

I have always wondered if it was easy to sign up for the credit card, pay everything off the next month, then cancel it. Does anyone have experience with working store credit cards that way?

[firstdown]

Originally Posted by InsaneBoost

Fell for the old credit card crap huh? They try to pull that crap with me ALL THE TIME, whether I buy clothes at JCPennys or whatever the hell that place is or tools or whatever. Then they look at me crazy because I won't "save" in their eyes.

GTFO outta here, I know their interest rates.

I didn't fall for anything as I got 10% off a $1,750 purchase and paid off the card with no interest. I was just surprised at the interest they do charge poeple and wondered if that was pretty standard now days.