DSM Turbos
Well-Known Member
- Joined
- Feb 25, 2006
- Location
- Raleigh, NC
People that are bad at math?
Online Credit Card Companies
- Thread starter R Q
- Start date
RatLabGuy
You look like a monkey and smell like one too
- Joined
- May 18, 2005
- Location
- Churchville, MD
Maybe? But this isn't even a math problem. I think it takes the right combo of paranoia and ignorance of what is available.
Like I can understand the desire to have a large pile of cash on hand (I mean literally cash, kept in a safe or whatever) for emergencies, quick buying large ticket items at a good deal and such. We have people here that do that.
But to take that money and put it in the bank and as an available minimum balance you now have lost all the advantages of cash and gained only the inconvenience of it not being immediately available (and maybe a minimal sense of security?) At that point you might as well put into an account that gains interest.
Unless maybe you mean somebody says, "Oh if I move this money to this checking account then I can get that doozy 4% cash back" not realizing that the balances they are getting that on (what, maybe 20k annually?) are way less than the principle that would get interest in a saving account...? Hm. Yeah maybe they are setting this up as a scheme to make $$ (or lose less $$) on those people.