#CitizensPay

Rik @ bikescape.orgbikescape@mastodon.green
2024-05-21

I’m always interested in how bike companies are adding financing as an option for their customers. I saw a Citizens Pay ad (which I had never heard of) for Trek’s online store with “0% financing”. So I clicked through and found this buried really deep in the fine print… 29.99% APR on purchases “after the promotional period”. This kind of predatory lending should be illegal. #BuyerBeware #TrekBikes #CitizensPay #CitizensBank #PersonalFinance #ebike #PredatoryLending #BikeTooter

Chart from the Citizens Pay web site showing the “Annual percentage rate (APR) for purchases” with a 29.99% interest rate.

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