<p>I get a lot of those 0% APR for a year if you transfer all your credit card debt to a new card offers. Today, though, I got an offer from Discover for a $25,000 loan at an APR of 7.99%. While shredding it I noticed a chart showing how long it would take to pay off $10,000 of credit card debt at 7.99% APR and how much shorter the pay off would be for $10,000 7.99% APR with Discover. That didn’t seem possible (right?) so, intrigued, I read the fine print and <em>discovered</em> (ha! -pun) that they were using minimum payments to compute pay off time for the credit card. It didn’t give the monthly payment amounts for Discover.</p>
<p>Anyways it was a new sort of mailing for me. And I started thinking about how much more competition there is maybe going to be to get the interest on all the consumer debt that exists in this country.</p>
<p>Anyone else getting exciting new loan offers? :)</p>