Bank of america consolidating debt 100 percent free webcam xxx
Let me first start with the asterisks and referenced statements and then we’ll get to specific statements made in the offer.Next to the statement “A loan amount up to ,000″ there is an asterisk that refers to the following clarification. FIA Card Services is the name taken by MBNA when it became a subsidiary of Bank of America.If 8.99% is the best interest rate to be offered then the majority of people taking advantage of this offer will have a interest rate higher than 8.99%.Think about it like this, only the select group, the best credit people will actually get the best interest rate.So all the rest will get a rate between 8.99% and 21.99%.If the majority of people will get a rate higher than the interest rate used to calculate the repayment table, it make the figures used in the table inaccurate and not representative for the majority of new customers.The rest were probably very stretched statements at best or just simply outright deceptions. The envelope says “One Predictable Monthly Payment” but the details on the inside tell me that the interest rate offered is variable and can be adjusted regularly and go way up.“We may adjust your APR on a monthly basis due to changes to the Prime Rate.” “Repayment term and payment amount are estimates which may change if, for example: your APR changes, you make late or partial payments, we access fees, you enroll in Credit Protection, or you take additional advances.”So how can my monthly payment be predictable if the interest rate is variable and we already know that the Prime Rate will almost certainly go up from the low today?
Additionally, if you fail to pay your minimum monthly payment by its Payment Due Date on any two occasions within 12 consecutive months, we may increase your APR up to a Default APR of 27.99%, which will no longer be variable.
I thought it would be beneficial to take a close look at this offer and use it to help educate readers about what to look for and how the marketing message and reality can be two completely different things.
Once we finish reviewing this offer you will find that rather than a great tool to help you to get out of debt, the offer actually encourages you to use the line of credit to go even further into debt. Of the marketing inducements made on the envelope I knew that only one of the four items was probably true, “One Phone Call”.
The bolded statement “to help you get out of debt” is a wish at best.
Taking advantage of this offer does not mean that you will get out of debt.
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There isn’t anything that is set in stone that I, as a consumer, could depend on to judge what my monthly obligation would be under this credit offer, even though there is a large and nicely presented table.