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Well I can only base this on my experience which is the CC companies have jacked up my "purchase" rates up and down over the last 10 years but none have ever raised my fixed for life rate balances from the rate that was initially quoted. In my situation it doesn't matter because I can eliminate...

Well there are a lot of perks that I am receiving from keeping this debt open. I prefer to have easy access to cheap cash in case I need it. I receive points on the monthly finance charges on a couple of the cards which means I can get a small credits to those accounts which is just more free...

Nope I never stated I generated 200% from CDs. I borrowed the money and invested the cheap money. Once I hit 100% return I took the original cash I took and stuck it in CDs and continue to invest the money I made. I.E. I borrowed 30K at 3.5% invested the 30K and over the course of several...

LOL LOL LOL Thanks for the laugh. No I have not generated a measly 1% gain. I've already made over 200% gain on that money in the last 10 years while paying a paltry 3.5% a year. Sorry to disappoint you but you're not talking to a financial moron here.

Hell you could really have some fun with the packaging. Pay 50 bucks for the pair of shoes and they come with a dart board with bush's face and you can put it on your wall and practice hurling shoes at it all day! There's a business opportunity here! :)

We'll see, I'm not concerned. I've had the debt open for almost 10 years with chase, citi, and bank of america and never had any problems. Besides the entire amount I owe I have cash to back it up in a CD ladder so if one of these clowns decides to break their "fixed for life" deals then I...

I dunno, I think I can find 18,000 people in my city that want to throw more than a shoe at bush, not saying thats right or wrong but its true! The guy should demand his shoes back and put them on auction on Ebay, make a KILLING!!

Well got the short term pullback today on low volume, so can't really place much signifiance to the market. I'm sure the next week or two will be more of the same because of the holidays, which is fine with me if we keep trading in this 440-500 range. I'd be happy with Jan experation anywhere...

There seems to be this black and white notion that has crept into american society in the past few decades that if you are rich then you worked your ass off and you deserve everything you have....but if you are not rich then its because you're lazy and don't deserve it. Which seems to create...

Exactly, you've nailed the game just right. If you have good credit then banks are fighting each other to get a piece of you right now. And that CC debt in the right hands is a nice income stream and in the wrong hands its a ticking time bomb. Hey guns don't kill people, people kill...

Well today we came pretty darn close to touching the 50day EMA but alas the market sold off of it. I'm not really seeing any upcoming reason for the RUT to go above 500 in the short run. I'm expecting a pullback in the short term to around 460 or 470 at least before we try closing above 500...

I apologize for going off the original topic but here is a simplified example of how this works as its been a pretty handy financial tool that I've been able to utilitze. - Capital one sends you an offer saying you can take out cash up to your capital one credit card limit and you will pay a...

No you don't understand the game I'm playing here. I've used the "fixed for life" convenience checks from different about 5 different credit cards to take cash out with those checks. The interest rate is FIXED at 3.5% until its paid off. The 5 credit cards sit in my drawer and haven't even...

LOL uh hell no. The avg combined interest rate on that 30K debt is fixed for life around 3.5%. I have absolutely NO REASON to pay off this cash cow, specially since I've generated enough return to pay that amount off twice over and am working on third time over :p God I love credit card debt!

I don't know, there doesn't seem to be a good way to tell just how much of the massive credit card debt out there is bad. That seems to be the trillion dollar question. For instance, I may carry a $5 bill in cash all month long because ALL of my expenses go on my credit cards (food, bills...

I added one more feb call position today. Here is a list of my current open positions: bot jan 460/450 put/short jan 45 iwm put@ cost of $47 bot jan 470/460 put/short jan 46 iwm put@ cost of $52.06 bot jan 480/470 put/short jan 47 iwm put@ cost of $68.51 bot jan 500/490 put/short jan 49...

I didnt' do too much accounting of slippage, I figured I'd simply just use market orders to do my call entrances since they always trigger at the crappy bid prices. So I think I'm factoring in a little bit of slippage by overpaying for the debit spread and getting screwed on the selling of the...

Alright time for another trading thread to add to the long list of threads. I've found some really good and interesting threads that I've learned a lot from. Kudos to optioncoach for the infamous SPX credit spread trader journal which I finally have completed reading the entire monstrous...

Actually the avg worker DOES own financial stocks...AIG for instance. Depending on the CDS damage there will be more banks lining up for TARP money and more bailouts for these financials which will come from the tax payer (ie avg worker). I'm not sure how big the CDS exposure is specially with...

This is actually the amusing part of this fiasco. Typical dumbass on main street is happy about not having to pay the 14 billion in loans to these guys but wait till we all the get the bill to bailout the massive CDS damage this is gonna cause to a lot of financials. A lot more than a measly...