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Path: utzoo!watmath!clyde!floyd!harpo!ulysses!mhuxl!ihnp4!fortune!rpw3
From: rpw3@fortune.UUCP
Newsgroups: net.consumers
Subject: Re: Good Visa Card? - (nf)
Message-ID: <2965@fortune.UUCP>
Date: Thu, 5-Apr-84 04:09:57 EST
Article-I.D.: fortune.2965
Posted: Thu Apr  5 04:09:57 1984
Date-Received: Sat, 7-Apr-84 02:18:04 EST
Sender: notes@fortune.UUCP
Organization: Fortune Systems, Redwood City, CA
Lines: 30

#R:emory:-131200:fortune:39400006:000:1219
fortune!rpw3    Apr  4 23:53:00 1984

Re: nice "VISA" deals.

This is only nice if you normally carry a bit of money in your checking
account, but a "Schwab One" assets management account gives you a free
VISA [*], free checking, and reasonably good interest on your money.
You have to have $5000 to open it, but the balance can get down to $500
before they complain. (You can also buy/sell/margin/option stocks, which
is what they really expect you to do.)

I've only had an account there for a short time, but so far I've had
no problems (...said the man as he fell past the 15th floor...).
Anybody else got any experience with these folks?

[*] Catch: the VISA card is really a DEBIT card, not a CREDIT card.
What you "charge" on it comes right out of your account, boom! On the
other hand, your "authorization limit" is ALL of your cash (less $500)
plus 50% of your marginable stocks, so you could walk in a buy a car
with it if you had enough to back it, I suppose. (They also extend true
credit against your marginable stocks at pretty low rates, but not
against your cash.)

Rob Warnock

UUCP:	{ihnp4,ucbvax!amd70,hpda,harpo,sri-unix,allegra}!fortune!rpw3
DDD:	(415)595-8444
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