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Financial News & Notes

September 12th, 2006 at 01:59 am

Hmmmm, spending the weekend out of town was tiring but worth it. Of course, what does this have to do with finance? Not much, except for tracking gas prices as I made a 200 mile round trip. I didn't quite know what to think. I found gas prices where I was staying about 25 cents less than at home (it was 2.79 when I left), so I filled up when I started back on Sunday. OK, that was only 4 gallons, but I thought it would be worth it. Ooops. As I travelled, the prices kept getting less and less. First 2.49, then 2 miles later 2.43. About 10 miles later I saw 2.39. Finally at the half way point (say 45 miles) I saw one station at 2.25. After that the numbers zoomed back up to hit 2.75 near my house. As I drive a 35 MPG hatchback, I'm not too concerned about getting the absolute lowest price, but wow, those numbers were all over the place. Next time I make that trip I will pay more attention to the prices on the way there.

Today I got my Shell gas card. Real low limit for purchases, not that I care. I just want to get that $40 back after 3 purchases. With prices dropping, the gas is going to be mucho cheaper.

(Warning: serious sarcasm ahead) And my last item (and only other item in the mail box) is an "offer" for a "smart banking package". FYI, this offer is from HSBC. Lets see, what all does it offer? Interest checking is highlighted. Of course to avoid monthly fees you need to have direct deposit, and have at least $3000 deposited. OK, not terrible, though not appealing. Sooo, reading the fine print, what is the current rate with the checking account? An APY of 0.15%. That's right, if I were to deposit, ummmm $10,000, I would be able to get $15 after one whole year!!!. I could get a whole half tank of gas! Who needs those silly 6% CDs when you can get rates like that? Then it mentions you can have free internet banking with Bill Pay. But in the fine print it states that this service is free to all HSBC customers. Well, that certainly makes this offer sound appealing. It comes with other things like home equity line, which according to their own numbers would cost from 8% to 10%. Be still my heart. Oh, and to top it off, it comes with a free debit card - truly stunning. LOL. Even the one thing that sorta sounds appealing - one free night for two at a Marriot hotel has a serious flaw. Reading the fine print shows that they will report the cost of the hotel room on an IRS form 1099. After you pay taxes based on the "no discount" rate, it will cost little less than getting the room at discount. Sheesh. Seriously, this might have been a decent offer 10 - 20 years ago, but come on guys, this is 2006. (On second thought, I wouldn't have been impressed 20 years ago either.)

2 Responses to “Financial News & Notes”

  1. yummy64 Says:
    1158029356

    I hope they enclosed an envelope so you can be a nice person and mail it back to them saying "no thank you". Its polite to let them know what you decided isn't it, so long as you can do it at no cost to yourself?

  2. Ima saver Says:
    1158074093

    That is funny!

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