Oh, The Wonderful Things That Could Be Ours
My inbox informed me today that Blue Nile, the largest online diamond retailer, will now be offering Bill Me Later as a payment option. This digital money usurer enables consumers to “buy online without using a credit card”. You just register an account, and with ever purchase enter your birthday and the last four digits of your SSN. Wham, bam, the $7,997 solitaire diamond with platinum setting is yours!
So somehow you’ve managed to spend $8,000 without using cash or a credit card (and for some pretty tacky jewelry I might add). Barring a good ol’ heist that just sounds like a miracle! What are these magical tricks!
Bill Me Later is actually an open-end credit account with a 19.99% interest rate. So it’s like a credit card, except it has a higher interest rate, no spending limits, and you don’t have to apply for it. How convenient! I’m so glad financial institutions are learning from the mistakes of the mortgage crisis. I’ve never had more faith in the future of our nation (as it is of course described, a Countdown to a Meltdown).
