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Author: calcgodjon One star, 50 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 308648  
Subject: Re: Amex response on min payment Date: 7/13/2005 4:48 PM
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Without knowing anything else about the situation...

If OP can't make the increased minimum payment, can you really afford these items, despite "need"? (either if increased to 4%, or with these items added)

An immediate suggestion, assuming OP hasn't been doing this already: assume the AMEX minimum has doubled, but instead of paying it to AMEX, pay it to ING for the said mentioned upcoming purchases. If these items are going to be paid for in the near future, they can be afforded OUTSIDE the use of 9% interest credit. Please, please, please do not rationalize the purchase of these on credit, no matter how the balances may be juggled.

Just trying to help a fellow Fool out, since I myself have justified the same all too many times in the past. I would suggest posting on the budgeting board, or your other such favorite board for these budgeting issues.

BTW, AMEX just reduced my interest rate to 8.9% fixed, down from 12.9%, just with a simple phone call request. No arguments, just a "this is the best we can do." Good enough for me!

Best regards,
Jon
2/2006 $0 balance payoff date!
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