Motley Fool: Beware Of The Cashback Loan

Over the weekend, during a friend’s birthday party, I was chatting to a chap who seemed to be obsessed with money. Now, I’m often accused of being obsessed with money – it is my job to write about it, after all – but this guy was one of those ‘Know-It-All’ types and he really took the biscuit!

Anyway, he was banging on about how he had just taken out a 3-year personal loan that would pay him cashback of 25% of the interest at the end of the term. He was suggesting to a fellow party-goer that she do the same….

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