Best Way to Take Advantage of a 0% Credit Card Interest Rate

Posted On: January 16, 2007

Author: AJ
Posted: Wed Jan 10, 2007 3:33 pm
Post subject: If You Have 0% For A Year What Should You Do?

Pay N Full each month, or take your time ? I know it all depends on what the rate will be afterwards. I Have a 0% Until Nov 07

0% for a year.

Use it, (I go up to the full amount)
Sock it, (put the card up)
Pay the Minimum, (I round up to the nearest $100)
PIF at the end of the promotion, (double check date it needs to be paid off.)

I do this with Cap 1 and the purchase checks as well. $20,000 limit I write myself a check the day after the statement closes, then pay in full the next month when payment is due. So I get almost 2 months of interest. Repeat if I have a check.

Quote:
I Have a 0% Until Nov 07

Put the money in a high interest bearing savings or money market account. As Tony said, pay just above the minimum each month. When the last 0% payment is due, withdraw the principal from the savings account and pay off the balance in full!
Quote:
it all depends on what the rate will be afterwards.

No it doesn’t! Not if you pay the balance in full just before the promo rate expires.

tonygoldston wrote:
0% for a year.

Use it, (I go up to the full amount)
Sock it, (put the card up)
Pay the Minimum, (I round up to the nearest $100)
PIF at the end of the promotion, (double check date it needs to be paid off.)

I do this with Cap 1 and the purchase checks as well. $20,000 limit I write myself a check the day after the statement closes, then pay in full the next month when payment is due. So I get almost 2 months of interest. Repeat if I have a check.

tony

Words of Wisdom. Use it! It’s the OPM principal (other peoples money). Why do we have these things if not to make it work to our advantage.

Make sure you have your calendar right.

www.TheCardDepot.com
Your Credit Card Source

Tony said:

0% for a year.

Use it, (I go upto the full amount)
Sock it, (put the card up)
Pay the Minimum, (I round up to the nearest $100)
PIF at the end of the promotion, (double check date it needs to be paid off.)

I do this with Cap 1 and the purchase checks as well. $20,000 limit I write myself a check the day after the statement closes, then pay in full the next month when payment is due. So I get almost 2 months of interest. Repeat if I have a check.

tony

Tony, I’m a little confused. What do you mean when you say “you go up to the full amount: and “write yourself a check”