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No. of Recommendations: 0
Hello Fools,

I have 3k @23.24% in a CC account at BoA. I've been shopping around for a new BT option but I'm also looking at this card for the long term. Because of this, I can't seem to decide whether I like airline miles or rebates better. Through my research I've found that the rebate rates have been in steady (if not, precipitous) decline recently and may not even be worth it. I figure that if I can use an airline miles card responsibly over a period of time it could eventually help fund a vacation or two.
That said, I'm also quite disillusioned with the whole CC industry. The slightest of mistakes is all it takes to slash your credit history and get "ratejacked". This is not something I'm very interested in perpetuating.
A few weeks ago I found the Prosper site. I have been lurking and posting there since. It's amazing to think that I could get my 3k loan locked in at around 9-10% (I'm a credit grade A) for the duration of the 3-yr loan. If I happen to be late with a payment (which I don't plan to be), the rate won't shoot up at all. I'll just be penalized after a period of time. Also, I'll be fulfilling the investment vehicles of REAL people across the country, not some corporation out for my money.

So the overall question is this:

A.) 0% APR over a 6-12 month BT with a CC company. Jack chance.

B.) 9~% over three years to other people. No jack chance.

If you need more explanation of how prosper works, post a question.

Other than that, any opinions?

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