I've been getting transaction free checks in the mail from Capital One for the last 4 months. I've been using them each month to make up the balance of my expenses and writting a new check the next month to pay Capital One plus that months expenses. I've had the use of free money.
Monthly...
monthly
Take funds monthly from my HSBC online account which pays 1% interest. Beginning of each year the HSBC account is replenished from my portfolio withdrawal.
I know short term rates will surely rise at some point. My HELOC allows me to lock in the current low rate anytime. When rates start to climb I would most likely put an end to this plan and start withdrawing for my IRA unless I can get a higher CD rate from Penfed to offset the HELOC rate.
I don't want to get punched in the face like Tyson, Brewer, that's why I'm putting this out there.
I'd have to pay back the HELOC from an IRA sometime out in the future or a not yet rec'd inheritance which is fairly definate but (rather not count my chickens...).
I'm thinking of this plan but have not implemented it yet. I retired 1 year ago. To date, I have not taken any funds from my tax exempt retirement accounts.
I have a large Home Equity Line of Credit (HELOC) that I have not used. Interest presently is 2.75% if I borrow from this HELOC.
I...
Penfed did it right. My CD that I reserved back in October for 10 years at 5% showed up in my account today. Dollars were transferred from my Traditional IRA Premier account perfectly. Thank you Penfed for this New years gift.
just got this personal email from Penfed about my AMEX card:
"We are writing to inform you that a new credit card is being mailed to you as a precautionary measure against any potential fraud exposure"
anyone know what this would be all about?
I just got my $100 giftcard today. It's a prepaid Penfed AMEX card with $100 on it. It's good for 1 year. I signed up for the Penfed AMEX card in November. So far they have delivered everything just like their promotion said. I'm very pleased. I've got 37,000 points so far. I'll use it...
Sorry to hear that Rusty. I got my card last month a now have 33,000 points. Have not tried to redeem any yet. Did you end up with airline tickets after all you went thru? Curious, why the big hassle? Thanks.