How your Bank Fucks You!

To fallow the lesson on interest rate this will now make a little more sense.
Your savings account, if you’re lucky, pays you 4.0% interest rate on your savings.
4.0% IS A REALLY HIGH RATE

FYI
ING Direct pays about 4.0%
WAMU pays about 0.035%

Credit Card
Your credit card charges you at the lowest regular APR about 8.77% IF YOU ARE LUCK
Usually its more like 13.99% to 19.00% or even as high as 23.00%

FYI
MBNA is about 12%
Chase is about 7.00%
Discover is about 18.99%

Now you have to ask your self, what’s a better deal???
+To hold money in a savings account and have a huge balance on your credit card?
or
+To have a smaller amount of money in the savings account and pay off the credit card and never buy anything on it ever again

AMERICA!!!!

STOP BUYING

SHIT YOU CAN'T AFFORD

Most things I write is out of shear personal experience
(correct my spelling and get mentioned in the next post :)