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This morning I got checks from my credit card company to use against my credit line. They were offering 0.00% APR until August 2010. Then it goes back to my normal credit card APR of 12%. My current auto loan interest is about 7%. Sounds like a deal.
But, of course, in fine print there was transaction fee of 3% of total check amount. So I did some math:
- I owe about $9000 on my car.
- 3% of 9000 = $270
- I would need to pay off this amount in
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