Vakkotaur

They call this one an "Up front reward" and claim not to have some complex reward program and no teaser rates. The bait is a "free" Dell Dimension 2400 desktop computer. But there are a few catches. "Free" is not free, of course.

To get the computer one must transfer balances to get at least $5,000 on their card - and then keep a balance of at least $3,500 for at least 18 months... at 9.99%. That's also a variable rate. But what if you don't have that much to transfer? Why, there's always a cash advance (up to $2,500) option to boost debt and cash advances get that higher rate of not less than 19.99%. They point that this would be a saving if I transferred my higher rate balances. I pride myself in not having higher rate balances. My reward is very simple: not making interest payments.

It gets even better. The system they picture has a flat-panel display, which is an option. The DVD drive is also an option. Naturally both options cost more money.

Of course this offer is only to "credit-savvy individuals" who have earned it. Well, this credit-savvy individual knows better than to fall for this. It costs more in interest than simply saving up and buying the machine. And for that, I could certainly do better than a mere Dell if I wanted to get another computer.

Topping it off is the result of Googling:
http://milwaukee.bizjournals.com/milwaukee/stories/2004/03/29/story2.html?page=1

Verdict: Universal Savings Bank, meet Mr. Shredder.