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Amazon Prime Day Financing


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2 hours ago, hdporter said:

If this entails forfeiting the 5% cb on the Synch Amazon Prime card (which financing on the card typically does), then this is still VERY expensive financing (eff. 20%+ APR).


Even at 0%, if I have to spread a $50 purchase over a 6 month time frame, then I've got bigger issues I need to concern myself with.

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9 hours ago, TheVig said:

Spread a $50 purchase out over 6 months!


[feigns bitterness and disappointment]


6 months? Is that all the time I get?  I was hoping to pay it off over the course of a year.


(Do you suppose they would be willing work with me on this?)




Sync trying to get in on the low dollar BNPL craze.


Sorry, is that what the industry calls this segment of the market, "low dollar"?  I should have thought selling consumers the ability to spread out a $50 payment over six months (six months!) would qualify as "subterranean."


One must have a heart of stone to read such things without laughing.  Perhaps I do the industry an injustice, but it appears there is no level to which they will not stoop.


I have no doubt whatever the next dubious "frontier" will be microloans to the homeless ("Yes!  Now you can own that pack of gum you have always wanted!")





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4 hours ago, Sidewinder said:

If I were Synchrony I'd have probably had more second thoughts about trying to build up a customer base of people who need to finance $50 purchases.


Perhaps it is a sign of what the credit industry has been reduced to nowadays?


On the one hand, chasing pennies like this is laughable.  On the other...well, pennies are still money.  Gather enough of them over time and it is possible to make a fortune.


I admit I am fascinated by the penny-chasing, but in a lurid, trainwreck sort of way.  There do not appear to be many depths that remained unplumbed by the credit industry.





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