http://cashmoneylife.com/0-interest-credit-cards-purchases-balance-transfers/ Money Management, Small Business, Career Thu, 09 Feb 2012 19:08:34 +0000 hourly 1 http://wordpress.org/?v=3.3.1 http://cashmoneylife.com/0-interest-credit-cards-purchases-balance-transfers/#comment-26689 jb Sun, 28 Nov 2010 07:50:09 +0000 http://cashmoneylife.com/?p=2194#comment-26689 would like to transfer a balance of 8k on a credit card with 0 interest and 0 balance transfer for longest amount of time to give me time to paydown amount. credit card with these options or best option to take care of this 8k would like to transfer a balance of 8k on a credit card with 0 interest and 0 balance transfer for longest amount of time to give me time to paydown amount. credit card with these options or best option to take care of this 8k

]]> http://cashmoneylife.com/0-interest-credit-cards-purchases-balance-transfers/#comment-25914 Ryan Fri, 08 Oct 2010 01:11:27 +0000 http://cashmoneylife.com/?p=2194#comment-25914 They call it credit card arbitrage. It was very easy to do a few years ago, but many banks were losing money from it, so they added the minimum transfer fees. Now interest rates are so low, it's not worth the time and will usually end up as a losing enterprise. They call it credit card arbitrage. It was very easy to do a few years ago, but many banks were losing money from it, so they added the minimum transfer fees. Now interest rates are so low, it’s not worth the time and will usually end up as a losing enterprise.

]]> http://cashmoneylife.com/0-interest-credit-cards-purchases-balance-transfers/#comment-25912 sun Thu, 07 Oct 2010 21:37:11 +0000 http://cashmoneylife.com/?p=2194#comment-25912 When some banks did not charge for a balance transfer (now 3% to 5% with a max), a friend of mine would transfer her balance to the new card instead of paying it off. With the cash, she would set up CD to mature before the 0% APR expired. When the CD matured, she'd pay off the credit card balance. Now that there is a balance transfer fee and interest rates low as they are, it ends up being a wash. When some banks did not charge for a balance transfer (now 3% to 5% with a max), a friend of mine would transfer her balance to the new card instead of paying it off. With the cash, she would set up CD to mature before the 0% APR expired. When the CD matured, she’d pay off the credit card balance. Now that there is a balance transfer fee and interest rates low as they are, it ends up being a wash.

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