The rat race

Crowley

Not Aleister

General

11 Jun 03

orkyboy

Looooney Ork

A galaxy far away

Joined: 25 Feb 03
Moves: 8046

13 Jun 03

Originally posted by genius
correct me if i'm wrong, but isn't that a debit card-i.e. it is deducted immediatly rather than you getting a bill through for it at the end of the year?...hey-i'm bored!...🙄

Dunno. But I get a lot of interest so it can't be bad. 😛

LivingLegend

Amsterdam

Joined: 26 Jan 03
Moves: 27540

13 Jun 03

Originally posted by orkyboy
Dunno. But I get a lot of interest so it can't be bad. 😛

When you get positive interest, than it isn't a creditcard, but that's GOOD!

Olav

Crowley

Not Aleister

Control room

Joined: 17 Apr 02
Moves: 91813

13 Jun 03

Originally posted by LivingLegend
When you get positive interest, than it isn't a creditcard, but that's GOOD!

Olav

Credit card accounts have positive interest if you've got a positive balance. Only when you go into the 'red' do you start paying interest.
In any case, the interest you get on these savings and credit card accounts are usually not even enough to cover your service charges.

ChessNut

Lightly Salted...

Joined: 18 Jul 01
Moves: 36979

13 Jun 03

A lot of times credit cards give you interest if they are secured cards. They take $200 from you and put it in a savings account that earns interest. They then give you $200 credit on the card. That way if you don't pay they get theirs anyway.