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Personal Finances / Credit Cards and Consumer Debt


Subject:  Re: paying off credit cards Date:  7/30/2000  9:40 AM
Author:  alsn Number:  40330 of 312949

The first time I heard of carrying a balance at a teaser rate and saving in a money market account, I thought it was foolish until that person told me the interest rates, and then it started sounding Foolish. (Big F = good; small f = bad.) Even though it is not my cup of tea, I don't see it as poison, either.

I just can't see doing this (Although I know many people who do). IMO, I think it is a waste of time and brain power to have to apply for different cards, transfer the balances, remember when to retransfer them, etc. Plus, if you apply for a mortgage or other loan, all of the POSSIBLE balances on all those CCs can be (cumulatively) counted against you.

I think it is Foolish to just pay the thing off and put your financial attention towards investing.
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