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Free Compaq Evo Laptop - sort of...

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New update. I called and activated my card. They stated that the laptop would be 4-6 weeks, and that they cut a check for $5000 for the balance transfer. All is going according to plan....
 
Originally posted by: tkhater
New update. I called and activated my card. They stated that the laptop would be 4-6 weeks, and that they cut a check for $5000 for the balance transfer. All is going according to plan....
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is it the card with lines going across the card ?
I got the letter saying that I was approved, and enclosed was a receipt for the 5k transfer.
 
here's more about the bank offering the "deal"

Universal Savings Bank, F.A. is a federally-chartered savings bank located in downtown Milwaukee, WI. USB is a vertically integrated electronic transaction processor, providing transaction authorization, data capture, settlement and funds transfer services to over 45,000 business clients nationwide. USB offers credit and debit card processing, electronic check processing, time/attendance and payroll processing, pre-paid phone products, electronic gift cards, and e-commerce solutions. Visit USB online at www.usb.com.

also

bank
 
Definitely not worth it... With the interest payments and what not. $3000 will buy a nicer laptop then what they give you.
 
Don't know, haven't opened it up. I already have a laptop with similar specs, and was going to eBay this. (no flames please)
 
Dude. The $3000 is a loan, not a purchase. You aren't paying 3K for a laptop, but interest on 3K, plus the ability to use the 3K for something else. Basically, it boils down to 10.99% - 5% or 6% of 3K which is about $180 for the laptop.

Definitely worth it.
 
especially if you already have that much in current balances on your credit cards. going to try it myself.

what are all the specs on that laptop you got anyway?
 
While I use both AT and the other hot deals forum on a regular basis I must say this deal was taken alot more seriously on the other forum! I might not have gotten in on this if I had only read tkhater's post. got mine yesterday and its as specified 1.53 mobile processor, 256 MB mem, DVD ROM, 20 gig HD, 14 inch screen, Windows XP home edition. Got my balance down close to 3000.00 setting aside 400.00 a month in a sorry interest bearing account all in all I figure this will cost me 300.00 by next july Good post tkhater surprised more people did not jump on this!!!
 
I called them, they set me up on the phone as told, but they said I must maintain a $5000 balance for 12mo. to keep from having to pay the 899 penalty (essentially buying the laptop) no problem for me as I got $8000 in cc balances right now anyway (dang the diggler for all thos omax specials) just waitin on all those MIR's to come back. 🙂

will still comes out to about $400-$425 in interest for a sorta free laptop. then again it's intrest I'm paying anyway.
 
If it sounds too good to be true, it probably is. I'm sure there is a catch somewhere.
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There is no catch to this deal. You go under the required balance and they charge you a fee. The rules are simple. If you already carry a large balance on a card, then this is a no brainer. You will come out ahead assuming you pay off the balance after the one year period is over with. The bank will make money on this as most individuals will not pay off their balance after the one year is up and many will add to it buy making purchases with their new credit card. The bottom line is, if you now the rules and stay within them, you will make out on this deal. Especially if you currently carry a balance on your card(s). I would have been all over this deal when I was in college and had credit card debt, but my wife has mended my evil spending ways and I no longer have credit card debt.
By the way, is this deal still on?
 
Originally posted by: knightc2
If it sounds too good to be true, it probably is. I'm sure there is a catch somewhere.
Click to expand...
There is no catch to this deal. You go under the required balance and they charge you a fee. The rules are simple. If you already carry a large balance on a card, then this is a no brainer. You will come out ahead assuming you pay off the balance after the one year period is over with. The bank will make money on this as most individuals will not pay off their balance after the one year is up and many will add to it buy making purchases with their new credit card. The bottom line is, if you now the rules and stay within them, you will make out on this deal. Especially if you currently carry a balance on your card(s). I would have been all over this deal when I was in college and had credit card debt, but my wife has mended my evil spending ways and I no longer have credit card debt.
By the way, is this deal still on?
Click to expand...

Same here. Back in college I had a CC debt all the time. Nowdays though I have zero balance. For those with zero balance it's really not worth it considering there are always laptop deals in the $500-$600 range.
 
got my letter in the mail today, in 3-4 (probably closer to 2) weeks I should have my laptop. Way better than buying one and paying interst on it! Simply paying the interest I'm already paying on my current bill.

1.53Ghz Athlon XPm is an 1800+ btw.
 
I recieved my laptop last week, works very well...needs extra ram. Nice screen, lightweight, looks good, works well.
 
Got 750 beans for it. I figure I made an easy $500 or so on this when all the dust settles. The guy got it and already left positive feedback.

Last year, I got in on that staples $500 HP laptop (It was like 1100 minus coupon, 2 rebates, and a free floppy rebate) so I did not need the extra laptop.
 
Originally posted by: bfunny27
Definitely not worth it... With the interest payments and what not. $3000 will buy a nicer laptop then what they give you.
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Plenty of people are carrying a balance on their credit card's over 3000 for over a year year. I see credit reports all the time in the mortgage industry and for these people it's a great deal. This isn't a difficult concept.
 
Originally posted by: lobadobadingdong
how long did it take before you got your laptop? it's 3 weeks for me so far(the approved me 2 days after I called on 7/16/03), still waiting.....
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It should be about 2-3 weeks.
drop them a call to see what the deal is.
 
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