The Motley Fool Discussion Boards

Previous Page

Personal Finances / Credit Cards and Consumer Debt

URL:  http://boards.fool.com/i-know-many-people-dont-like-this-idea-but-a-10099155.aspx

Subject:  Re: Deferred Interest Date:  2/6/1998  11:44 AM
Author:  Jackstone Number:  601 of 308782

I know many people don't like this idea, but a credit card is another option, if you can get approved for one of those 5.9% APR ones. You can just get a cash advance for the remainder of the furniture (if you haven't paid it off already), and then you can continue your monthly payments to the credit card instead of the furniture company. There are really two dangers in this tactic though.

1) You may be tempted to run up the charge card on other things.

2) You may be tempted to just pay the minimum balance and do that forever.

If you're the type of person to be lured into either of these credit card 'sins', I would follow one of the other plans...
Copyright 1996-2014 trademark and the "Fool" logo is a trademark of The Motley Fool, Inc. Contact Us