The above is a full page ad in a local newspaper which I happened to glance at while waiting for a medical test.
Poor spelling aside(which incidently makes it difficult to take this ad seriously), this pitch for easy credit is a good example of predatory lending.
If a purchaser needs to finance as little as $200, the chances are high that he or she should not be buying the item in the first place. There is also a strong likelihood that after the introductory grace period of 0 % interest, he or she will not have the balance paid off, which is the only way to avoid paying interest.
The ad also pitches an application for a credit card. Purchasers who would need to finance small amounts are targeted by credit card companies because that is the chunk of the population that makes them the most money, through interest and late fees. Unfortunately, bad habits have a way of perpetuating a vicious cycle, which help credit companies make billions of dollars.
This financial practice really annoys me. I am sure none of my readers would fall for this ad, but if you know anyone that needs financial education this is an essential part of that education.
Until the next time!