Credit card customers special rates 29% regular 50%

[Dr.Dudd]

Scotia entices credit card customers

Observer Reporter
Sunday, September 18, 2005



Scotiabank Jamaica, seeking to entice credit card business away from its competitors, is offering cheaper rates, for up to six months, to multiple card holders who switch their balances on competing products to Scotia-issued Visa and MasterCard.

Under the promotion, which will run until the end of next February, Scotia is offering an annualised rate of 29.75 per cent on balances moved from competitors' cards to its own cards, against marketplace rates of closer to 50 per cent.

Scotia has even been posting to its credit card customers special cheques, valid up to the end of this month, with which to affect the transfers.

"As long as your account is in good standing, you can write each cheque for a minimum of J$4,500 up to your available credit limit," the bank tells its credit card customers.


Dudd: Are these guys serious??
50% on credit cards?
Now if ever there was a crime??

[RichD]

Re: Credit card customers special rates 29% regular 50%

doc it used to be in the 65-75% range

[Gen]

Re: Credit card customers special rates 29% regular 50%

Originally posted by RichD:
[qb] doc it used to be in the 65-75% range [/qb]

[img]/forums/images/graemlins/laugh.gif[/img]

[Dr.Dudd]

Re: Credit card customers special rates 29% regular 50%

Originally posted by RichD:
[qb] doc it used to be in the 65-75% range [/qb]

No wonder the murder rate is so high?

The cost of money is an obstruction to the survival of the country.

[Q3210]

Re: Credit card customers special rates 29% regular 50%

Right now, I am sourcing to pay off my Credit card debt and disolve the account...just not right to have one in Jamaica with the rates. RichD is right. Rates were as he said it was.

[Dr.Dudd]

Re: Credit card customers special rates 29% regular 50%

Now that is anarchy.
So what would one do with money that cost that much?
I move my credit around to avoid paying 10%much less. That is why I don't even borrow for mortgage down there but I really did not know that consumer loan rate could be anywher as high as that.
Even the 29% I thought was ridiculous as a discounted rate,until I saw 50%. That must change or the country will be taken over by those who can source their loans abroad,with the freedom of movement of capital under the WTO.
There is so much that needs to be changed in the country and I really don't see the opposition even hinting at them
They are wasting time with road blocks,instead of going to patliament every session and introduce a new bill to initiate changes that the country need to become a real country.

[777]

Re: Credit card customers special rates 29% regular 50%

scotia bank a de bank wha cash me money order to one tiefing smaddy..

[RichD]

Re: Credit card customers special rates 29% regular 50%

Originally posted by Dr.Dudd:
[qb] Now that is anarchy.
So what would one do with money that cost that much?
I move my credit around to avoid paying 10%much less. That is why I don't even borrow for mortgage down there but I really did not know that consumer loan rate could be anywher as high as that.
Even the 29% I thought was ridiculous as a discounted rate,until I saw 50%. That must change or the country will be taken over by those who can source their loans abroad,with the freedom of movement of capital under the WTO.
There is so much that needs to be changed in the country and I really don't see the opposition even hinting at them
They are wasting time with road blocks,instead of going to patliament every session and introduce a new bill to initiate changes that the country need to become a real country. [/qb]

doc these rates are what have seen the converson of many producing companies into financial holding companies....eg SEPROD


many financial institutions offere credit cards at much lower rates if they are denminated in US dollars and the repayemnt has to be made in US dollars.