I have to get something off my chest. It probably doesn't bother anyone else or even matter in the end it just drives me crazy every time I hear it and I am going to expose it for what it is.
Have you ever heard the commercials advertising a savings account or CD that end by saying something like "Our account pays 9 times the national savings average"....?
Since the national savings average commonly dips below 0%, when Americans spend more than they make, I don't see how this claim has much clout. Also, why in the world does it matter that the interest rate on their accounts pays x-amount times the national savings average? They are completely unrelated in almost every way. It's like saying "our cars get twice the gas mileage of the average snow blower."
It is absolutely, without question deceptive advertising. They know when the average person who hears that commercial thinks, "Hey, that account pays 9 times more than others." It is a swindle people.
Let me do the math for them
-0.5% x (any amount deposited)= 0% (0% APR) ----I will also be accepting deposits effective tomorrow.