I got $90K from credit cards, where would you invest?

Quote from TraderZones:

FICO is very important to anyone who wants to get a decent permanent JOB. Most of them check credit history. It also affects things like your car insurance costs and other things. Getting a house or a new apartment can be affected.
More...

Yes that is true but you have to rack up a lot of debt in order to pound your FICO down to levels where employers won't even hire you. I carry a lot of CC debt and my FICO score is not that bad, its right around 690 last time I checked, no problems getting my current job, insurance, my 2 mortgages. Obviously having some defaults and late payments will torpedo your FICO....but if somebody has a history of not paying back what they owe then this game is not for them!

ONLY RESPONSIBLE PLAYERS WANTED! :)

P.S. This thread got me looking again and I'm seeing reports on the internet about people complaining that Chase is now screwing customers by tacking on a $10 "maintenance fee" for these promotional offers since they can't raise these rates. I have about 15K with chase so I am looking at my statements to see if Chase has done this, so far I don't see this charge but will keep an eye out every month to see if this is true. As soon as I see that charge my FICO score is going to zoom higher after I pay that balance off and Jamie dumbass useless Fuk Dimon can suck my wang and try finding another place to lend 15K to somebody that is going to pay them back with interest in this credit environment where most of the people looking for credit are of the subprime variety.
 
3.2% interest rate on his savings account.

12 month high yield CD is worth about 2.25% right now.

Finally some IQ around here. But hey, no zero zippo nada risk, right? LOL.

Here comes that bus!!!!

You take care now. I'll go back to trading and leave these "high" IQ games to yall.
 
Quote from huh:

my FICO score is going to zoom higher after I pay that balance off and Jamie dumbass useless Fuk Dimon can suck my wang .
More...

Which side of the family did you inherit your brains from? The hamster?
 
Huh and misterno,

Thank you for making my day. This thread is priceless. Huh, please keep thinking the CC companies “cannot raise my rate, promotional or otherwise, any time they want.”

I guess this is where the term natural selection applies. I would warn you about what you are doing as others have tried but it is obvious you two are beyond help and listening to reason. As Rodney Dangerfield says in Caddyshack, I am reminded of why some species eat their young.

ET never ceases to amaze.

Good trading everyone else.

TM
 
Quote from Big Money:

Huh and misterno,

Thank you for making my day. This thread is priceless. Huh, please keep thinking the CC companies “cannot raise my rate, promotional or otherwise, any time they want.”

TM
More...

I never stated "CC companies “cannot raise my rate, promotional or otherwise, any time they want.”

CC companies can raise purchase rates anytime they want as I stated earlier. I have run this game for close to a decade and have not had a single promotional rate increased on me by any of my CC companies unless it was a promotional rate that was set to expire after 6 months, 12 months, etc. So if you have had a promotional rate increased on you then we have not had the same experience. How many times has your promotional rate been increased?

Finally, all these nay sayers yet nobody has explained how it is a financial disaster for the original poster to take out a 100K at 0% with a $50 fee, put the money in a savings account earning 3%.....especially if the OP is not planning on purchasing a house or other big ticket item in the next 12 months? Please provide an example so that I may learn and not get "naturally selected," I am always willing to consider new things :)

And thanks for the kind warning but I am quite alright as the money I have borrowed can be paid back since the debt is backed with cash.
 
Huh,
I was paraphrasing what you said, but you probably don’t know what that means. You did say and I quote “There seems to be repeated statements made on this topic from individuals that a credit card company can change the rate on a PROMOTIONAL rate anytime they want. From my experience this is not true.”

So you did in fact say they won’t raise your promotional rate. Please reread your own post. Just because they haven’t in the past to you doesn’t mean they won’t and they have more incentive than ever to bury anyone they so choose these days. They can and will do whatever they want whenever they want. You can be a day late with a payment to another card company and every credit card can raise your rate at their discretion. As soon as you are red flagged and it is a miracle either of you haven’t been, you will both be in a world of hurt. This is the fact you are both ignoring. But hey, don’t listen to anyone trying to help you. It is your life but when it blows up, don’t ask for a bailout. The nay sayers don’t need to explain anything as they have already tried that but both you and misterno just don’t get it. I have wasted enough time on this because if it isn’t obvious to you by now after this many pages why this is a poor strategy, then good luck to you. Sooner or later, you are going to need it.

And no, I have never had a rate increased but again, I am not maxing my cards out for a measly return for the risk taken as has been clearly explained (and should be obvious but I digress). I also have zero credit card debt.

Good trading

TM
 
Quote from Big Money:

Huh,
I was paraphrasing what you said, but you probably don’t know what that means. You did say and I quote “There seems to be repeated statements made on this topic from individuals that a credit card company can change the rate on a PROMOTIONAL rate anytime they want. From my experience this is not true.”

So you did in fact say they won’t raise your promotional rate. Please reread your own post. Just because they haven’t in the past to you doesn’t mean they won’t and they have more incentive than ever to bury anyone they so choose these days. They can and will do whatever they want whenever they want. You can be a day late with a payment to another card company and every credit card can raise your rate at their discretion. As soon as you are red flagged and it is a miracle either of you haven’t been, you will both be in a world of hurt. This is the fact you are both ignoring. But hey, don’t listen to anyone trying to help you. It is your life but when it blows up, don’t ask for a bailout. The nay sayers don’t need to explain anything as they have already tried that but both you and misterno just don’t get it. I have wasted enough time on this because if it isn’t obvious to you by now after this many pages why this is a poor strategy, then good luck to you. Sooner or later, you are going to need it.

And no, I have never had a rate increased but again, I am not maxing my cards out for a measly return for the risk taken as has been clearly explained (and should be obvious but I digress). I also have zero credit card debt.

Good trading

TM
More...

I am guessing these two work part time at Walmart, and are desperate for a few bucks, consequences be danged...

They sure don't come across as high school grads...
 
You must log in or register to reply here.
Back
Top