Cash Back Credit Cards
Author: squeezenickle
Posted: Mon Feb 13, 2006 12:51 pm
Post subject: cash back cards
Recently got a high cl card not much cash out or bt feature to it but 0% for 18 mo on wy purchases if i put all i would normally purchase that i can then at the end of the mo. pay payment then wire rest of purchase amount to ing assuming 4.75% interest rate woul this be the same as purchasing on rewards cards at a higher cash back than most thanks
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Author: stevejk
Posted: Mon Feb 13, 2006 3:50 pm
Post subject:
If you mean what I think you mean, there are a couple discussion threads about this. In short, if you have 0% APR on purchases for 18 months, pay the minimum every month and put the balance into a high yield savings account. At the end of the 17th month, withdraw the full balance from the saving account and pay off in full. If the CC is a cash back or other rewards card, then that would be a bonus.
The trick is to be fiscally responsible and not spend the money that you are storing away in savings and not spend more than you would otherwise, it is a good plan.
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Posted: Mon Feb 13, 2006 12:51 pm
Post subject: cash back cards
Recently got a high cl card not much cash out or bt feature to it but 0% for 18 mo on wy purchases if i put all i would normally purchase that i can then at the end of the mo. pay payment then wire rest of purchase amount to ing assuming 4.75% interest rate woul this be the same as purchasing on rewards cards at a higher cash back than most thanks
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Author: stevejk
Posted: Mon Feb 13, 2006 3:50 pm
Post subject:
If you mean what I think you mean, there are a couple discussion threads about this. In short, if you have 0% APR on purchases for 18 months, pay the minimum every month and put the balance into a high yield savings account. At the end of the 17th month, withdraw the full balance from the saving account and pay off in full. If the CC is a cash back or other rewards card, then that would be a bonus.
The trick is to be fiscally responsible and not spend the money that you are storing away in savings and not spend more than you would otherwise, it is a good plan.
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
posted by CardRatings.com at 7:22 PM
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