Minions of wealth destruction.

I have warned against the evil installment plans and their minions. Don't remember? See related post at the end of this blog post.

Minions can be in your face or minions can be in disguise. One way or another, they will lead to wealth destruction.

What? Pay for a purchase using interest free installment plan offered by your credit card is not wealth destructive? Aiyoh, they will take money from you in another way lor. Don't believe me?

Reader:
AK, did you blog about how having a lot of credit cards and debit cards will insidiously suck annual fees out from you when you least expect it? Recently i have been hit with quite a number of those and some banks refused to waive the fees. And i couldn't cancel the card as i have a on-going installment payment. Hopefully can warn others reading your blog not to charge those 12 or 36 months payments anyhow to your credit cards, later you kena those banks don't want to waive your annual fees and you can't do anything about it. I'm cancelling all my credit and debit cards save the 365 credit card and two ATM cards. Thoroughly disgusted :( $192 down the drain.

AK
Oh, I never use installment plans de. That is consumption debt. I dun like. I buy, I pay one time and that's it.
I can cut and paste your experience in my blog. Can?

Reader:
sure, just hope others will learn from my mistake

See? I never bluff you.

Related post:
Evil installment schemes and minions.