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Years ago I was traveling when my car engine burned out a rod. I had the mechanic shop install a new engine and the bill was around $2,500 and I paid with a cc. I paid the card off in full when I received the bill but was charged interest the following month on a zero balance. I called the cc company and asked them why...on a zero balance...I was charged interest. I was told because I paid the balance in a single payment and that they required a minimum of two payments to pay off a balance. I said bullshit and that I would not pay interest on a zero balance...they then went into a long spiel about how I would then be charged late charges which would begin to snowball...etc. I went ahead and paid the interest on a zero balance and then had the card cancelled. I learned in later years that cancelling a cc has adverse affects upon ones credit score. They kind of have you by the balls one way or another.
Several years back I cancelled all of my credit cards. I now just use my ATM card (which also acts as a Visa card) if I need to purchase something on line. Other than that I always pay cash for whatever I choose to purchase.
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