The Blog of ROBROB8

What the FUCK….$$??

by Robrob8 on Mar.24, 2009, under At First Glance

I have to ask some very serious questions, and if you have the answer, please post it in the comments section.

1. Why, in the time of this  economic downturn would I be getting a phone call from a credit card company offering me a cash advance loan, at 2.99% interest until January 2010, for up to $11,100.00 ?

My initial monthly payments (not including the 1% one-time transaction fee) would be just over $5.00 per thousand dollars.

That’s $55.00 per month on a loan of $11,000.00 !! Of course, after January 2010 my payments go up because the interest jumps to 18.9% annually. I’d start payng roughly $320.00 a month and it would take me over 30 years to pay the cash advance credit card loan back (I’m not great at math, if you an figure out the actual figures share them).

So I have to ask you: other than me saying NO to this offer, should credit companies actually be making these types of offers? Does the current credit crunch and economic crisis not bother these big companies?

Or has the whole thing been a managed conspiracy to steal the wealth of people all over the world and not just today’s savings but future earnings as well since tax payers will be carrying the costs of the “market stabilization” for generations to come?

So? ….. answers please?

:, , ,

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