Money Tips: Credit Card Offers with 0% Balance Transfers

Posted On: June 7, 2007

Guest: mouse
SENIOR MEMBER (Member for 2 yrs.+)
Post subject: Credit Card Offers with 0% Balance Transfers
Posted: Thu Jun 07, 2007 12:05 am

crybaby wrote:
mouse wrote:
I wish I got some mail offers

All I get is HSBC SUB-PRIME offers

Like 2 or 3 a week

THEY JUST DON’T GET IT……….

Sounds to me like a problem with utilization negatively impacting your FICO score. What is your FICO score now that your available credit has been decreased by over $200k?

Too much steak, perhaps?

BTW, you didn’t get F/R as you say in your sig. You got the AA of a CLD which is a completely different thing. Strange mistake for such an opinionated expert.

What F/R in my signature???

You confused???

I don’t feed the monster why would I know a score????
_________________
…AND THE BAIT GOES ON

…AND ON TRIAL TOO

Last edited by mouse on Thu Jun 07, 2007 9:26 am; edited 1 time in total

Guest: Medion
Posted: Thu Jun 07, 2007 2:12 am

Quote:
Sounds to me like a problem with utilization negatively impacting your FICO score. What is your FICO score now that your available credit has been decreased by over $200k?

We’ve been over this before. There are numerous indicators that Mouse’s credit has something wrong. I’m willing to take him at his word that he’s never had a late fee in 30, 6, 8 years, whatever the number is (it changes per post). But there’s gotta be something screwing him over. Hopefully he gets to the bottom of it.

Quote:
BTW, you didn’t get F/R as you say in your sig. You got the AA of a CLD which is a completely different thing. Strange mistake for such an opinionated expert.

He knows it’s not an actual F/R and that it’s a CLD, if you go by his sig over at CB, which hasn’t changed for at least a few days.

Quote:
You may be missing the whole point about 0% balance transfers, especially one that gives you 0% for life! It’s OPM, free money which you can use to make more money.

Example: say your limit is $8,000.00. You write a balance transfer check to yourself for just under your limit, like mabe $7,800.00. You deposit that money in a high interest bearing account, like a CD. You pay the minimum each month until the entire balance is paid off and you keep the interest.

Using this example, by the end of the first year you would have made $420.00 in interest, less the $75.00 fee, or a net of $345.00. By the end of the second year you would have tacked on an additional $442.00 in interest.

Not exactly a get rich quick scheme, but it’s completely legal and it’s free money to do with what you will. A number of us on CardRatings do this routinely. I make about $1,300.00 per year on 0% offers. There are people here who do much better than that.

Holy ****! I didn’t think about that! Ok, I’m going to get right on that! Thanks for the tip.

Guest: mouse
SENIOR MEMBER (Member for 2 yrs.+)
Posted: Thu Jun 07, 2007 9:31 am

Medion wrote:
Quote:
Sounds to me like a problem with utilization negatively impacting your FICO score. What is your FICO score now that your available credit has been decreased by over $200k?

We’ve been over this before. There are numerous indicators that Mouse’s credit has something wrong. I’m willing to take him at his word that he’s never had a late fee in 30, 6, 8 years, whatever the number is (it changes per post). But there’s gotta be something screwing him over. Hopefully he gets to the bottom of it.

Quote:
BTW, you didn’t get F/R as you say in your sig. You got the AA of a CLD which is a completely different thing. Strange mistake for such an opinionated expert.

He knows it’s not an actual F/R and that it’s a CLD, if you go by his sig over at CB, which hasn’t changed for at least a few days.

Quote:
You may be missing the whole point about 0% balance transfers, especially one that gives you 0% for life! It’s OPM, free money which you can use to make more money.

Example: say your limit is $8,000.00. You write a balance transfer check to yourself for just under your limit, like mabe $7,800.00. You deposit that money in a high interest bearing account, like a CD. You pay the minimum each month until the entire balance is paid off and you keep the interest.

Using this example, by the end of the first year you would have made $420.00 in interest, less the $75.00 fee, or a net of $345.00. By the end of the second year you would have tacked on an additional $442.00 in interest.

Not exactly a get rich quick scheme, but it’s completely legal and it’s free money to do with what you will. A number of us on CardRatings do this routinely. I make about $1,300.00 per year on 0% offers. There are people here who do much better than that.

Holy ****! I didn’t think about that! Ok, I’m going to get right on that! Thanks for the tip.

You must be confused………

SINCE I AM ON TRIAL HERE………….

NOTHING CHANGES WITH EACH POST

NEVER LATE 30+ YEARS (since 1975)

AMEX NEVER LATE 8+ YEARS (SINCE 1999)
_________________
…AND THE BAIT GOES ON

…AND ON TRIAL TOO