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From: df@ptsfa.UUCP (Dave Fox)
Newsgroups: net.invest,net.consumers
Subject: Re: "No Money Down" (Other People's Money) Scam
Message-ID: <1080@ptsfa.UUCP>
Date: Sat, 4-Jan-86 23:01:46 EST
Article-I.D.: ptsfa.1080
Posted: Sat Jan  4 23:01:46 1986
Date-Received: Mon, 6-Jan-86 03:22:48 EST
References: <587@cylixd.UUCP> <312@3comvax.UUCP> <611@brl-sem.ARPA>
Reply-To: df@ptsfa.UUCP (Dave Fox)
Organization: Pacific Bell, San Francisco
Lines: 19
Xref: watmath net.invest:992 net.consumers:3754

>> 	Refinance the house for 80% of the value and pay off the VISA
>> 	cards within 30 days (to avoid the interest payments).
>Wrongo!  Every bankcard I've ever seen starts charging interest on
>CASH ADVANCES from the date of the advance.  You really are taking
>out a 18-21% loan in that case, as opposed to regular charges which
>are interest free provided you maintain a zero balance from month to
>month.

He claims to have located banks that don't charge interest on cash advances.
Somehow I doubt this. I've seen an earlier version of his course - not the
fancy package advertised on TV. During his hype talk, he claimed that the course
included the names of banks. It did - but there was no indication as to what
the bank offered as far the terms of the cards were concerned. The package
advertised on TV has a separate book of 'over 6000 banks!'. Has anyone seen
this? Does it give real information, or are you still left to write the
letter he suggests?

Dave Fox
..!ptsfa!df