joec@u1100a.UUCP (Joe Carfagno) (03/24/86)
Forgive me if this topic has been discussed before - I just haven't been reading this newsgroup much lately. It's just that when I got this item in today's mail, I had to laugh and share it with someone. ------- "Mr. Dennis Amichetti, Vice President, Beneficial National Bank USA cordially invites you to apply for a credit line of up to $25,000 along with the no-annual fee premium credit card of your choice." "Choose either a gold MasterCard or Premier Visa card - without an annual fee" In fact, the only fee is a $2.50 monthly usage charge which only applies during months whenyour account is in use or has an outstanding balance." "The annual percentage rate is variable and will be the HIGHER (my emphasis) of 18.96 % or 4 percentage points above the Prime Rate." ------ Hmmm...let's see - 12 months time $2.50 per month = $30 per year. I assume that most of us keep a non-zero balance on our cards or we would not have them (the yearly fee ones that is). Also, the interest rate seems very high. Very imaginative...