rise2it - 10:41 pm on Dec 12, 2007 (gmt 0)

"often run specials like 90 days same as cash "

Keep in mind the merchants pay for that.

There are several of these programs in use in retail, and they offer the customer all kinds of options - no payments for 90 days, 6/12 months same as cash, etc.

In addition to collecting about 24% interest from the consumer who (cough cough) forgets to pay his balance off fully before the deal expires, they sock it to the merchant for about 10% of the sale for setting it up - these customer specials are MUCH, MUCH HIGHER for the merchant than 2-3% to accept a normal credit card.

I'm sorry, for 10% (plus potential interest from the customer) 'I' will play banker and carry the financing myself.