in my opinion, that is.
Never ever do that, if you people out there want to do it. clear
all debt (what ever amount you have draw) before the statement
reach your mailbox. WHY? interest rate charges on a daily basis
rite?
let say,
10th feb, statement close and send out by bank, reach your mail box
on either 11th or 12th feb, you pay on 13th feb, base on the
statement amount. amount clear only on the following day ( 4days
liao), WAIT!!!! 4 days? rite! you still owe the bank 4 days of
interest. dont believe? try it then, just pay only the amount show
on the statement(principal amt + interest charge up to statement
closing date), and you will know what I mean.
Are all banks out to suck money from us?
Anyway, lesson learnt banks are legalised loan sharks...not just
for cash adv but also for yr signings....daily interest, all in is
more than 24% pa.
So beware.....
