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FEDS to rewrite SAME AS CASH offers.
Wednesday, March 18, 2009
Consumers will get the rug pulled out from under them as the feds rewrite the rules on “same as cash- no interest loans” slated to take effect July 2010. The Federal Reserve is expected to issue a clarification in April 2009.
If you were planning to use one of these programs to take advantage of deferred interest on big-ticket items where you can pay the total within a given period of - 6, 12, 24 months- for no interest , there is no time like the present to act as retailers are expected to modify programs expiration terms so they expire before July 2010. For the full article click at USA Today click here: USA Today, Fed changes rules on retailers’ no-interest offers.
2 comments:
Interesting. I rarely take advantage of those offers but I know people who do. Thank you for posting this.
Yes, they are really only worth while if you have the money to pay it off in full at the end of the term.
PS., I love your web site and blog. When in town, I'll have to stop in for a tart. Scrumptious!
Thanks.
Laurie
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