Quote:
Originally Posted by oldjudge
Let's say you want to buy $1500 worth of cards(a $1000 card and a $500 card) but only have $1000 now (but will have more to spend next month). You buy the $1000 card, pawn it to PWCC and get $500 to buy your second card. Next month when the money comes in you repay PWCC and get your card back. The concept seems good, however, the interest rate seems excessive.
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At the risk of sounding very preachy, one should not make card purchases if one has to finance them, in my opinion. If things are that tight, suppose next month's money doesn't come in or you need it for something else? You're out big time in this scenario, you're out your $1000 card which was collateral. Or you borrow the $500 from someone else to repay PWCC and you're off to the familiar races.