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Path: utzoo!watmath!clyde!floyd!harpo!seismo!brl-vgr!wmartin
From: wmartin@brl-vgr.ARPA (Will Martin )
Newsgroups: net.consumers
Subject: Re: Free Credit Cards Are Not
Message-ID: <48@brl-vgr.ARPA>
Date: Tue, 10-Apr-84 15:56:22 EST
Article-I.D.: brl-vgr.48
Posted: Tue Apr 10 15:56:22 1984
Date-Received: Wed, 11-Apr-84 07:15:25 EST
References: <298@teldata.UUCP>, <915@drufl.UUCP>
Organization: Ballistics Research Lab
Lines: 19

My credit union (Gateway Federal, St. Louis) offers free MasterCard
(only requirement is having $100 in your share [savings] account)
with an arrangement through some bank/organization in Florida, which
is where I send the payment. No fee, and no interest charges if you
pay in full each month, which is what I always have done, so the
interest rate is totally unimportant. Check with your local credit
unions; most people qualify for membership in several.

A local savings & loan is advertising free Visa and 16% interest,
no account requirements, but there is no free period if you pay in
full; you get charged interest from day of posting. I had intended
to get one of those as a backup, but detected that no-free-period
by reading between the lines on the application. It won't cost anything
if I never use it, so I still might get one for emergencies, but I
doubt it...

Keep your powder dry...

Will