Talk:Cash advance

Cash advance shops in Japan - worth mentioning?

I took this from the credit card cashback page:

In Japan, a law enabling credit card cash back came into force in 2010. However, a legal loophole in this system was quickly exploited by online shops dedicated to providing cash back as a form of easy loan with exorbitant rates. At first, the online store sells a single inexpensive item of glass marble, golf tee, or eraser with an 80,000 yen wire transfer for a 100,000 yen (1,200 US dollar) credit card payment. A month later, when the credit card provider charges the card owner with the full fee, the online store is out of the picture with no liability. In effect, what the online cash back services provide are loans with a 300% annual interest rate.

On October 19, 2010, Hideki Fukuba became the first operator of such an online cash back service to be charged by the police. He was charged on tax evasion of 40 million yen in unpaid taxes.

I'm leaving it here in case anybody can cite a source and thinks it's relevant here. Overspline (talk) 04:04, 16 April 2012 (UTC)

Merge(d) into Credit card article

above re in Japan noted, helpful re globalizing. This entire article merged into Credit card. Nuts240 (talk) 17:41, 28 August 2022 (UTC)