Financial institution games

Scenario #1.  Have you paid a balance on a credit card or line of credit (that’s not provided by your financial institution) at your bank’s ATM, or with your electronic device on the due date and been dinged for interest?

Scenario #2.  Have you paid a balance on a credit card or line of credit at the institution that provides those products (again, not your main bank) in person by cheque, on the due date and not been dinged for interest?

Given the speed of electronic transactions, the first scenario is quicker than the second yet you’re charged interest for the faster way.

The games financial institutions play to charge you more and most of us do and say nothing.

 

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