Join Early Retirement Today
Reply
 
Thread Tools Search this Thread Display Modes
Re: Another way to profit from credit cards
Old 04-30-2006, 08:09 PM   #41
Thinks s/he gets paid by the post
maddythebeagle's Avatar
 
Join Date: Jun 2005
Posts: 2,450
Re: Another way to profit from credit cards

Quote:
It depends on the offer.
rew. If you got an offer where you dont have to make payments every month, PM, I would love to sign up for that one.
__________________

__________________
- Hurry! to the cliffs of insanity!
maddythebeagle is offline   Reply With Quote
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that Early-Retirement.org is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!

Re: Another way to profit from credit cards
Old 04-30-2006, 08:25 PM   #42
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
REWahoo's Avatar
 
Join Date: Jun 2002
Location: Texas Hill Country
Posts: 42,074
Re: Another way to profit from credit cards

Quote:
Originally Posted by Maddy the Turbo Beagle
rew. If you got an offer where you dont have to make payments every month, PM, I would love to sign up for that one.
Maddy, sorry but you won't be getting a PM from me. I went back to my original documentation and it says "no transaction fees", not "no payments. Evidently I confused it with an offer for 0% financing on Sears appliances that I took advantage of about the same time (replaced the dishwasher). That one has no payments for 1 year...and I just confirmed to be sure.

I sit corrected.

-------

Professor, see why I say you need to proceed carefully?


__________________

__________________
Numbers is hard

When I hit 70, it hit back

Retired in 2005 at age 58, no pension
REWahoo is offline   Reply With Quote
Re: Another way to profit from credit cards
Old 04-30-2006, 11:03 PM   #43
Recycles dryer sheets
 
Join Date: Apr 2004
Posts: 159
Re: Another way to profit from credit cards

Thanks guys. The reason I asked was that 10years ago I bought a computer with a no interest deal where the amount was not due for 1 year. They were hoping I'd forget or fail to make the payment & were pissed off royally when I gave them the cash. Haven't done that since.

I'll get out my magnifying glass!!!!!!!!!!!!

The Professor
__________________
education is offline   Reply With Quote
Re: Another way to profit from credit cards
Old 05-01-2006, 10:05 AM   #44
Thinks s/he gets paid by the post
cube_rat's Avatar
 
Join Date: Jul 2005
Posts: 1,466
Re: Another way to profit from credit cards

To REW's point in terms of reading the fine print, people need to consider utilization rates.* If the balanced transfered funds from card "A" is at the max credit limit and then you do the same for card "B" and card "C", chances are card that "B" can apply a universal default rate because card "A" and "C" are at the maximum if card "B" pulls your credit report.* Universal default could mean getting immediately slapped with interest rates at 27%, etc.

I simply do not trust credit card companies under any circumstances.* They CAN* change the rules at a whim and send you inocuous looking term change notices in 2 1/2 pt font* in the mail.* For $600 extra bucks, it's simply not worth my time nor anxious energy to manage or worry about IMHO.
__________________
fuzzy? cute?
cube_rat is offline   Reply With Quote
Re: Another way to profit from credit cards
Old 05-01-2006, 10:12 AM   #45
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
HFWR's Avatar
 
Join Date: May 2005
Location: Lawn chair in Texas
Posts: 12,964
Re: Another way to profit from credit cards

Nice avatar... :P
__________________
Have Funds, Will Retire

...not doing anything of true substance...
HFWR is online now   Reply With Quote
Re: Another way to profit from credit cards
Old 05-01-2006, 10:14 AM   #46
Thinks s/he gets paid by the post
cube_rat's Avatar
 
Join Date: Jul 2005
Posts: 1,466
Re: Another way to profit from credit cards

Quote:
Originally Posted by HFWR
Nice avatar...* :P
It's pretty much how I feel about my job right now. I'd love to moon executive management, but unfortunately my paycheck (paycheck whore that I am) keeps me in check.
__________________
fuzzy? cute?
cube_rat is offline   Reply With Quote
Re: Another way to profit from credit cards
Old 05-01-2006, 10:38 AM   #47
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
HFWR's Avatar
 
Join Date: May 2005
Location: Lawn chair in Texas
Posts: 12,964
Re: Another way to profit from credit cards

At least we're not cheap... 8)
__________________
Have Funds, Will Retire

...not doing anything of true substance...
HFWR is online now   Reply With Quote
Re: Another way to profit from credit cards
Old 05-02-2006, 10:27 PM   #48
Thinks s/he gets paid by the post
thefed's Avatar
 
Join Date: Oct 2005
Posts: 2,203
Re: Another way to profit from credit cards

discover has 0% for life offers. Yes, FOR LIFE. I make 2 $1 purchases monthyl and I'm done. I have 20k on it now, and only pay the minimum. The 20k is in the bank earning 4%
__________________
thefed is offline   Reply With Quote
Re: Another way to profit from credit cards
Old 06-27-2006, 11:24 AM   #49
Recycles dryer sheets
 
Join Date: Mar 2006
Posts: 126
Re: Another way to profit from credit cards

I have a question for you regarding Emigrant Direct accounts. I have a savings account with them but I was wondering how often do you get the 4.8% interest? Is it monthly or yearly?

Thanks!
__________________
xmanz3 is offline   Reply With Quote
Re: Another way to profit from credit cards
Old 06-27-2006, 12:19 PM   #50
Thinks s/he gets paid by the post
 
Join Date: Jan 2004
Posts: 2,049
Re: Another way to profit from credit cards

Quote:
Originally Posted by xmanz3
I have a question for you regarding Emigrant Direct accounts. I have a savings account with them but I was wondering how often do you get the 4.8% interest? Is it monthly or yearly?

Thanks!
It's 4.8% yearly. It's paid monthly of course.
__________________
eridanus is offline   Reply With Quote
Re: Another way to profit from credit cards
Old 06-27-2006, 07:42 PM   #51
Recycles dryer sheets
 
Join Date: Nov 2004
Posts: 140
Re: Another way to profit from credit cards

So the Citi Platinum Select card has 0% APR on balance transfers and purchases for 12 months. I could purchase a 50K six month CD on this card, pay it off in 6 months and pocket the interest?
__________________
smooch is offline   Reply With Quote
Re: Another way to profit from credit cards
Old 06-28-2006, 07:36 AM   #52
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
brewer12345's Avatar
 
Join Date: Mar 2003
Posts: 16,391
Re: Another way to profit from credit cards

Quote:
Originally Posted by smooch
So the Citi Platinum Select card has 0% APR on balance transfers and purchases for 12 months. I could purchase a 50K six month CD on this card, pay it off in 6 months and pocket the interest?
Sort of. You would want to do a BT, since it is unlikely that you can actually purchase a CD with a credit card. You also will have to make minimum payments until the 0% is up or you pay off the advance. That typically amounts to 2% of the balance a month.

What I have done is take BTs and invest the money in a mixture of money market funds, short term CDs, and longer term bonds. If you want to be really super safe, the way to do it would be to stuff it in a MMF.
__________________
"There are three kinds of men. The one that learns by reading. The few who learn by observation. The rest have to pee on the electric fence for themselves."



- Will Rogers
brewer12345 is offline   Reply With Quote
Re: Another way to profit from credit cards
Old 06-28-2006, 11:23 AM   #53
Confused about dryer sheets
 
Join Date: Jun 2006
Posts: 4
Re: Another way to profit from credit cards

For a good analysis on the credit card game, I enjoyed this 3 part article: http://www.mymoneyblog.com/archives/...dit_car_2.html
__________________
docbells is offline   Reply With Quote
Re: Another way to profit from credit cards
Old 06-28-2006, 03:46 PM   #54
Thinks s/he gets paid by the post
cube_rat's Avatar
 
Join Date: Jul 2005
Posts: 1,466
Re: Another way to profit from credit cards

Quote:
Originally Posted by docbells
For a good analysis on the credit card game, I enjoyed this 3 part article:* http://www.mymoneyblog.com/archives/...dit_car_2.html
Is this justin's blog??
__________________
fuzzy? cute?
cube_rat is offline   Reply With Quote
Re: Another way to profit from credit cards
Old 06-28-2006, 03:59 PM   #55
Thinks s/he gets paid by the post
 
Join Date: Jun 2005
Posts: 4,005
Re: Another way to profit from credit cards

Quote:
Originally Posted by cube_rat
Is this justin's blog??
No, but it might as well be. It looks pretty accurate.
__________________
justin is offline   Reply With Quote
Re: Another way to profit from credit cards
Old 06-28-2006, 04:15 PM   #56
Thinks s/he gets paid by the post
maddythebeagle's Avatar
 
Join Date: Jun 2005
Posts: 2,450
Re: Another way to profit from credit cards

Quote:
No, but it might as well be. It looks pretty accurate.
interesting site....looks like he is tracking his net worth...cant be justin's....since it has to be a lot higher
__________________
- Hurry! to the cliffs of insanity!
maddythebeagle is offline   Reply With Quote
Re: Another way to profit from credit cards
Old 06-28-2006, 04:42 PM   #57
Thinks s/he gets paid by the post
 
Join Date: Jun 2005
Posts: 4,005
Re: Another way to profit from credit cards

Quote:
Originally Posted by Maddy the Turbo Beagle
interesting site....looks like he is tracking his net worth...cant be justin's....since it has to be a lot higher
Unfortunately not much higher. I don't have the June 30 2006 financial statement completed yet for obvious reasons, but my March 31, 2006 net worth value was not a whole lot higher than this guy's. It looks like I'm getting richer at a faster rate than this guy too. I'm on track to double the net worth again this year.
__________________
justin is offline   Reply With Quote
Re: Another way to profit from credit cards
Old 06-29-2006, 09:50 AM   #58
Recycles dryer sheets
 
Join Date: Nov 2005
Posts: 73
Re: Another way to profit from credit cards

But how can you take cash out of CC without paying interest on cash advances?
__________________
maggieddd is offline   Reply With Quote
Re: Another way to profit from credit cards
Old 06-29-2006, 09:56 AM   #59
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
brewer12345's Avatar
 
Join Date: Mar 2003
Posts: 16,391
Re: Another way to profit from credit cards

Quote:
Originally Posted by maggieddd
But how can you take cash out of CC without paying interest on cash advances?
Sometimes they will send you a check that they will treat as a balance transfer. If not, I just have them transfer the balance to my citi card (which has a zero balance). Citi then sends me a check.
__________________
"There are three kinds of men. The one that learns by reading. The few who learn by observation. The rest have to pee on the electric fence for themselves."



- Will Rogers
brewer12345 is offline   Reply With Quote
Re: Another way to profit from credit cards
Old 06-29-2006, 10:14 AM   #60
Recycles dryer sheets
 
Join Date: Nov 2005
Posts: 73
Re: Another way to profit from credit cards

Quote:
Originally Posted by brewer12345
Sometimes they will send you a check that they will treat as a balance transfer.* If not, I just have them transfer the balance to my citi card (which has a zero balance).* Citi then sends me a check.
I see, thanks
__________________

__________________
maggieddd is offline   Reply With Quote
Reply


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Best Bonus for Credit Card Expenitures -Frequent Flyer cards or Cash-back card? ScaredtoQuit FIRE and Money 19 04-21-2007 04:29 PM
close unused credit cards or keep open? bright eyed FIRE and Money 13 03-06-2007 09:40 PM
Cash, Checks or Credit Cards education FIRE and Money 18 11-26-2006 03:33 PM
Credit Cards and Credit Matuski Other topics 21 08-14-2006 01:40 PM
Credit Cards, Debt, and Bankruptcy Eagle43 FIRE and Money 68 03-21-2005 07:25 AM

 

 
All times are GMT -6. The time now is 08:32 PM.
 
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2017, vBulletin Solutions, Inc.