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Registered:
May 2002
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Re: Need info on interest free deals
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Tue, 21 October 2003 00:35
 
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Just checked and it is as I suspected...
Here is how it would work, in essence.
I buy, say, some rims and tyres in February, and use an Interest-free facility, such as "Buyers Edge" or similar. (Co-incidentally, I did!)
6 months later, I have paid the entire amount, and so there is a zero balance owing on the account. (Again, by happy co-incidence, this is also the case).
Note that I am now 6 months into a fixed, interest-free period. Should I re-borrow on this "available credit", I now have a 6-month interest-free period. If I don't pay it back within that 6 months...Well, you know what happens here! Similarly, if I were to re-borrow on this facility after that 6 months, it would immmediately attract consumer credit interest rates, in much the same manner as a normal credit card.
I would have posted the blurb which explains this from the GE web-site, but was not sure of copyright ramifications; it is explained in essence above.
I also spoke to one of their operators, who confirmed that this is the way it works...
Hope this helps someone avoid the big interest payments.
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| | Subject | Poster | Date |
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Need info on interest free deals
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Jag7799 | Sun, 19 October 2003 12:54 |
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Re: Need info on interest free deals
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biased99 | Mon, 20 October 2003 05:25 |
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Re: Need info on interest free deals
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Jag7799 | Mon, 20 October 2003 06:12 |
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Re: Need info on interest free deals
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bbaacchhyy | Mon, 20 October 2003 06:24 |
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Re: Need info on interest free deals
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NickAE86 | Mon, 20 October 2003 06:59 |
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Re: Need info on interest free deals
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biased99 | Tue, 21 October 2003 00:12 |
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Re: Need info on interest free deals
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biased99 | Tue, 21 October 2003 00:35 |
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Re: Need info on interest free deals
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Jag7799 | Mon, 20 October 2003 07:03 |
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Re: Need info on interest free deals
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NickAE86 | Mon, 20 October 2003 07:23 |
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Re: Need info on interest free deals
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Jag7799 | Mon, 20 October 2003 07:43 |
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Re: Need info on interest free deals
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NickAE86 | Tue, 21 October 2003 02:35 |
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Re: Need info on interest free deals
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biased99 | Tue, 21 October 2003 04:59 |
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Re: Need info on interest free deals
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BlackSupra | Tue, 21 October 2003 03:19 |
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Re: Need info on interest free deals
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NickAE86 | Tue, 21 October 2003 03:35 |
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Re: Need info on interest free deals
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BlackSupra | Tue, 21 October 2003 04:00 |
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Re: Need info on interest free deals
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NickAE86 | Tue, 21 October 2003 05:28 |
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Re: Need info on interest free deals
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Jag7799 | Tue, 21 October 2003 07:23 |
