Monday, March 18, 2013
Debt collectors don't like (temporarily) interest-free cards
I stumbled (literally) upon this article on “How Life Works” on how to pay zero interest on credit cards until 2014, here (it was written in 2011).
It talks about new interest free cards, that got created when banks were no longer allowed to jack up interest rates retroactively, resulting in higher credit card rates for “everyone” (as Facebook sees it).
Maybe this is too late already. Dent collectors don’t like this innovation, as it cuts down on their “business”. I remember my own days from 2013.
The idea of "urgency" in debt collection (and use of Western Union services) seems to get weaker all the time.