UnThreaded | Threaded | Whole Thread (26) | Ignore Thread Prev | Next
Author: aFoolishEngineer One star, 50 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 309880  
Subject: Re: CC Convenience Checks - BEWARE Date: 12/14/1999 2:19 PM
Post New | Post Reply | Reply Later | Create Poll Report this Post | Recommend it!
Recommendations: 0
Read the fine print - it will probally say that the CC company can change the rate at will. If not, let me know the details and I may just take advantage of this offer myself.

That is always a danger and if it happens, I'll just send my balance (if I still have one) somewhere else. It's not more or less a risk just because I used the convenience checks. The 10% APR on the card I moved it from could have gone to 20% next week. Who knows? I can't spend my life worrying about the "what-ifs" in this case. If, for no good reason, rates go up, I start looking elsewhere. I've done it before and can do it again.

I have no intention of trying to keep this debt for eternity. I am working to pay it off. It's just that now I have 2/3rds of it at 4.9%, I'll be working to first pay the other 1/3rd that is at a higher rate. And even though my school loans are at a higher rate than 4.9% (between 6% and 7%), I'll probably pay this debt off first because, for some reason, I trust the U.S. Department of Education more than I trust a CCC.

Still, thanks for the warning. Of course, nothing in life, especially my credit card rates, is guarenteed. For the meantime, however, I'll take advantage of what I've got.

Post New | Post Reply | Reply Later | Create Poll Report this Post | Recommend it!
Print the post  
UnThreaded | Threaded | Whole Thread (26) | Ignore Thread Prev | Next


TMF Credit Center
The Motley Fool Credit Center arms you with real tools and simple messages, that will help you in every credit situation.
Post of the Day:
Dividend Growth Investing

Why Companies Buy Back Shares
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Community Home
Speak Your Mind, Start Your Blog, Rate Your Stocks

Community Team Fools - who are those TMF's?
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.