Saphrym
December 10th, 2007, 11:09 AM
2204Here's the link: http://www.hrblock.com/bank/emerald_advance/index.html
So, I drive down to the local H&R Block because I've heard about this $500 cash advance you can get if you're going to get at least $1000 back in taxes next year. I could use the extra cash now, so I figured why not.
I stand in line for 30 minutes before the building opens. Some people had been there for an hour. I get my little business card with the number 9 on it and sit down with my Nintendo DS to wait out what I figure will be a few hours of the 8 people before me getting served.
Throughout this time, the workers are trying to give us all the details of what the Emerald Advance is. It takes a little while for it to sink in, but I realize that this isn't a cash advance on my taxes, this is a credit card without a credit check. However, the interest is 36%. Now, what you actually get is a credit card with a $500 balance, yet you only get access to $400 to begin with. $30 is a yearly fee and the other $70 is something you just can't access for a couple of days. If you keep $300 in there, which means only access about $100 right now, then you can keep the interest rate at 9%. Otherwise, it's 36%. I had to say it the second time, and I'll say it a third: 36%. That's for borrowing YOUR OWN MONEY that you'll get after your taxes go through.
Sure, a no credit check credit card is nice, but this is borrowing your own money, and I know people aren't going there to just access $100, so you'll be paying 36% for about 2 or 3 months while you're waiting on W2s to come in.
So, basically, if you throw away the credit card offers you get in the mail, and you don't absolutely have to have the money now, don't bother going to H&R Block today to get the Emerald Advance. Of course, if you don't trust my word, make sure to follow the link at the top of this post and do the research for yourself.
After I figured it out, I handed my 9 to someone who had 18. She was thrilled so I smiled as I walked out and back to my van, $500 poorer than I thought I would be but 36% happier.
So, I drive down to the local H&R Block because I've heard about this $500 cash advance you can get if you're going to get at least $1000 back in taxes next year. I could use the extra cash now, so I figured why not.
I stand in line for 30 minutes before the building opens. Some people had been there for an hour. I get my little business card with the number 9 on it and sit down with my Nintendo DS to wait out what I figure will be a few hours of the 8 people before me getting served.
Throughout this time, the workers are trying to give us all the details of what the Emerald Advance is. It takes a little while for it to sink in, but I realize that this isn't a cash advance on my taxes, this is a credit card without a credit check. However, the interest is 36%. Now, what you actually get is a credit card with a $500 balance, yet you only get access to $400 to begin with. $30 is a yearly fee and the other $70 is something you just can't access for a couple of days. If you keep $300 in there, which means only access about $100 right now, then you can keep the interest rate at 9%. Otherwise, it's 36%. I had to say it the second time, and I'll say it a third: 36%. That's for borrowing YOUR OWN MONEY that you'll get after your taxes go through.
Sure, a no credit check credit card is nice, but this is borrowing your own money, and I know people aren't going there to just access $100, so you'll be paying 36% for about 2 or 3 months while you're waiting on W2s to come in.
So, basically, if you throw away the credit card offers you get in the mail, and you don't absolutely have to have the money now, don't bother going to H&R Block today to get the Emerald Advance. Of course, if you don't trust my word, make sure to follow the link at the top of this post and do the research for yourself.
After I figured it out, I handed my 9 to someone who had 18. She was thrilled so I smiled as I walked out and back to my van, $500 poorer than I thought I would be but 36% happier.