How to Get a One Pound Bag of Candy for Free: a Great Credit Card Deal (cont.)
Contributed by Boo Roberts
Also, it is a good idea to read the fine print. Back in the late eighties, early nineties, the going interest rate was between eighteen and twenty percent which is not a good deal at all! But, when you are young and have not been educated about credit cards, the only thing you can see is the free food.
So what is a great credit card deal?
In hindsight, a great credit card deal is not one that offers you free anything just to fill out an application. A good credit card offer is when you don't have an annual fee, you get assorted services with your card, you have a low interest rate (should you ever carry a balance), to name a few off the top of my head. Sadly, I had no idea about the types of things to look for, or even to read the fine print.
I just was doing what almost every other college student was doing (those tables were always packed at least five deep, with students jostling for position over the candy and clip boards). Had I known that I should be reading all the tiny writing carefully (especially with the numbers), maybe things would have turned out differently. Which is why, when I graduated, I had a lot of credit cards, a good amount of credit card debt, and an extra twenty pounds or so.
