Comments on: eBay MasterCard Creates eBay Layaway Plan

By: 10millionin3years.com » eBay MasterCard Creates eBay Layway Plan

10millionin3years.com » eBay MasterCard Creates eBay Layway Plan — Sat, 06 Oct 2007 15:55:40 +0000

[...] chuqui wrote an interesting post today onHere’s a quick excerptMasterCard. The promotion is only open to first time eBay MasterCard customers and you have to pay off your balance by Jan 1, 2008 to avoid “finance charges assessed on the promotional balance from the date of purchase”. … [...]

By: Ben

Ben — Sat, 28 Jul 2007 20:13:30 +0000

Tim, I agree with you, if someone doesn’t have the discipline to pay it off before Jan 1, 2008 they absolutely should not even consider it.

The point I was trying to make was buying something for a lower price on eBay now before demand is high and prices go up during the holiday season, then putting aside some money each month to pay it off before the end of the year.

By: john

john — Sat, 28 Jul 2007 19:14:49 +0000

hmm interesting that ebay creates their own credit card. http://www.comparetheloan.co.uk

By: Tim

Tim — Sat, 28 Jul 2007 19:07:45 +0000

i’m not following the ebay thing as a layaway. they are couching it in layaway terms when it is in fact a no interest no payments deal until JAN 1, 2008. have a hiccup before then or payment doesn’t get in on time before the promotion end date and all the interest ACCRUED is added onto your card. i’m sure your IR % will also go to default values as well. being a PF blog, i’m surprised at your cavalier attitude about this deal. there are plenty of 0% promo credit cards that do not have the interest accrued portion added to it. moreover, there are plenty of cards that will give you cash back rather than confine you to ebay purchases.

at least with real layaway you aren’t buying something that you have the chance of defaulting on or getting caught in the credit card trap. now this doesn’t meant the ebay card isn’t a deal if you can manage it or if you cannot get any other 0% promo offer on purchases.