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Personal Finances / Credit Cards and Consumer Debt


Subject:  Re: Air mile cards Date:  6/27/1997  2:20 AM
Author:  ttm Number:  79 of 312189

re: charging your rent on your Credit card: I would tend to doubt that your landlord would accept the 2-3% hit on his rent.

I look for the following: Sometimes card cos. will send out those "convenience" checks. You must be careful, because most carry the 2% cash advance fee. Clarify with your issuer. Slightly less often, these no-fee cash advances have a great interest rate, like 5.9%-6.9%. But some do not. Inevitably, there is a 2-3-4-5-6 month time limit on the bonus interest rate. And what's more, any purchses you make over and above the advance are charged at the regular 16% rate. But you snap these up like a frog eating a a gnat, pay off your 16 percenters, and retire your CC debts s with haste. A nice trick. I retired a business credit line this way and avoided a considerable pile of interest. (I was willing to incur interest in order to develop my biz credit line)
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