When I was a 14 years old snot-nosed skinny schoolgirl, the school took us all to a ‘Work Experience Day” at Barclays Bank IT Department. And for the first time in my life I got to see a real workplace. One of the things they showed us was how they regularly wrote to their ‘High Net Worth Clients’ to sell them financial products using ‘form letters which used the same letter ‘body’ to each client, but extracted data, i.e. Name, Address, Postcode, Salutation etc for each High Net Worth individual from a database and sent them the same adverstising sales-copy in the form of a personalised letter.
“Does this really go out to 80,000 of your richest clients?” I asked the IT manager of Bank. “Yes” he replied. It’s all done automatically and goes out either with the Bank Statement or whenever there are special offers.
As soon as he was out of sight, one of the boys in our group (who probably went on to be major white collar criminal in later life) altered the Salutation field and, the following month 50,000 letters went out to Barclays Bank’s most valued clients with the Salutation “Dear Rich Bastard”
Of Course, if you are one of the rich bastards, you don’t need me to tell you how to finance the purchase of a Luxury Brand Authentic Wristwatch . Of Course, if you are one of the rich bastards, you don’t need me to tell you how to finance the purchase of a Luxury Brand Authentic Wristwatch, but if like most of us you would like to treat yourself to that once in a lifetime top of the range wristwatch, a Credit Card is the easiest way to do it, and a 0% Interest Credit Card that has a zero cost for the longest is the best way to do it. So what is the best tactic to achieve that.
Example: Buying on eBay
Let’s say, I want to buy one of the expensive luxury brand authentic wristwatches that are advertised on eBay. After first doing all the due diligence checks that the watch is genuine, I am the lucky winner and I pay 5,000.00 for the Watch using a credit card. Depending on what point in the billing cycle I am on, I now have up to 56 days before I start getting hit with interest charges
There is a small charge for the transfer, around 2.5%-3.00%, but that’s cheap compared to any other form of credit.
Some of the cards will give you a whopping 15 months credit before hitting you with charges, plenty of time to line up the next balance transfer deal, and get another free period with them.
And you had better get it either paid off or transferred to another 0% Interest Credit Card or you will end up paying anything from 15.9% to 29.70%, which is an outrageous amount really, but someone has to pay for the shinanigins above.
DON’T LET IT BE YOU
