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Just got a letter in the mail from Amex letting me know that my charge card is now elligible for 00.00% interest for 6 months for POT. Of course, at the end of 6 months it goes back to 18.49%. Nah, still not gonna bite but I do appreciate the offer.
Total CL: $321.7k | UTL: 2% | AAoA: 7.0yrs | Baddies: 0 | Other: Lease, Loan, *No Mortgage, All Inq's from Jun '20 Car Shopping |
@Berk wrote:Just got a letter in the mail from Amex letting me know that my charge card is now elligible for 00.00% interest for 6 months for POT. Of course, at the end of 6 months it goes back to 18.49%. Nah, still not gonna bite but I do appreciate the offer.
It nice to be able to stretch a purchase over 6 months but I wonder how it would be reported to the CRA.
I received the Pay Over Time offer too, but it wasn't 0%, but it was a low APR. I forget what it was.
@sjt wrote:
@Berk wrote:Just got a letter in the mail from Amex letting me know that my charge card is now elligible for 00.00% interest for 6 months for POT. Of course, at the end of 6 months it goes back to 18.49%. Nah, still not gonna bite but I do appreciate the offer.
It nice to be able to stretch a purchase over 6 months but I wonder how it would be reported to the CRA.
+1
This is an excellent question... I've never heard/seen anybody mention anything about how it reports.
I got that offer too but didn't take it because it would defeat my whole personal purpose in getting the card---to keep me out of trouble and remain responsible by having to pay in full for my charges every month
@Berk wrote:Just got a letter in the mail from Amex letting me know that my charge card is now elligible for 00.00% interest for 6 months for POT. Of course, at the end of 6 months it goes back to 18.49%. Nah, still not gonna bite but I do appreciate the offer.
The 6 month 0% apr sounds good, but for those that would take advantage of it and not pay it off in the 6 onths, well, they would end up regreting it.
@jgodfrey82 wrote:
Were you already signed up for POT and this was in addition or was this to entice you to sign up?
I was already signed up.