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Ask Dave

Not The Same As Cash

It's pretty simple why Dave discourages 90 days same as cash.

QUESTION: Listener asks why Dave discourages 90 days same as cash deals. Dave is happy to explain it.

ANSWER: I discourage it because 88% of them do not get paid off in 90 days. People say they’ll pay it off in 90 days and that’s the arrogance that gets you in trouble. No one does it, and when you don’t pay it off in 90 days, they backcharge you through the entire 90 days at the new interest rate, plus they lock you in going forward at 24% to 38% interest. They rip you off.

Also, 90 days is not the same as cash because when I go into an electronics store with cash, you know what I get? A deal! You don’t get bargains unless you go in there with cash.