My credit card company is SLY. So items over a certain amount they have a service where you can pay a set amount with a "service fee" vs paying no interest. So for instance if an item is $100 you'd pay 33.34 (over 3 months) plus maybe $1.00 per month as a service fee. Sounds like a great deal. Well my apr is 19.98% (yearly) or something like that. I was curious on how much I'd save with their set payment plus service fee vs my payment + interest. Well after doing the numbers, I save 1 cent
@Timmah1979 A penny saved is a penny earned!
Just think -- if you do this for the next 100 months -- you'll have a crisp new dollar bill in your pocket! 😂
@Route10 I wouldn't say I'm frugal. I gotta stress that but I'm always looking for ways to keep my money in my pocket and if a service fee is cheaper than interest I'm always gonna take it. But when the service fee is identical to the interest consider it a lie. It's not even misleading . I guess service fee sounds "nicer" than interest?
@Timmah1979 Reminds me of the little (and sometimes big ways) companies screw us -- I call this kind of thing an "FYT" -- a "fuck you tax."
One example here locally: There's a parking lot downtown where the first hour is FREE. Sooo...I log on the app, register for one hour of free parking -- and I'm charged a 35 cent "convenience fee."
No -- that's an "FYT."
@Route10 Nintendo has one of those too. 😂. I'm a gamer & usually the big titles are on all 3 systems. if you bought a game on say PlayStation and you decided you wanted the portability and bought it on Nintendos console you'll not only get a less graphically good looking game but you'll also pay $5-10 MORE for it. It's because they know portability is a big thing especially w/ adults that play. Being in the fall I spend a lot of time in hotels, it's easier to take a switch with me than an ps5