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01-12-2004, 04:47 PM | #16 | |
I am meaty
Join Date: Dec 2001
Location: Salt Lake City, UT
Posts: 1,119
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Quote:
Cough.
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Hot Pastrami! |
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01-12-2004, 04:51 PM | #17 |
Junior Master Dwellar
Join Date: Mar 2003
Location: Kingdom of Atlantia
Posts: 2,979
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Um...salesman never talked to most of them. It was one of those "applications in the mail".
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01-12-2004, 04:58 PM | #18 | |
I am meaty
Join Date: Dec 2001
Location: Salt Lake City, UT
Posts: 1,119
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Quote:
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Hot Pastrami! |
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01-12-2004, 05:03 PM | #19 | |
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Join Date: Dec 2003
Location: New Jersey
Posts: 516
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Quote:
My first credit card I got in college. Hey, free Slinky! Who could say no to a Slinky! I mean, look... it walks down stairs, and it was free! I made sure it had no yearly service charge, that was the one thing I would never pay on a credit card. |
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01-13-2004, 09:24 AM | #20 |
Junior Master Dwellar
Join Date: Mar 2003
Location: Kingdom of Atlantia
Posts: 2,979
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It was a partially secured card. Our card was like the bottom of the barrel credit-rating wise, and was a really good tool to rebuild your credit (we reported to all 3 credit bureaus every 30 days.)
You could get one of 3 credit limits: $250, $400 or $600, depending on your rating. The "partially secured" amount was $200. Here's where they ran into trouble: If you didn't have the $200 to deposit (earning interest) up front, then we would charge the deposit to the card. So on one of the $250 cards, you got $50 spendable when you started. Most people did not read this part. Most people got the $250 limit. All they saw was the $40 application fee (which they sent in) and then they'd get the card. That they couldn't really use. But it was all right there on the application, in regular font, sometimes in multiple places on the form. But people don't read. |
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