Comments on: How to Effectively Use 0% Balance Transfer Credit Cards http://ptmoney.com/0-balance-transfer-credit-cards/ Real Personal Finance for a Life Without Limits! Mon, 13 Feb 2012 00:51:35 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: Adamhttp://ptmoney.com/0-balance-transfer-credit-cards/comment-page-1/#comment-4765 Adam Thu, 01 Jan 1970 00:00:00 +0000 http://ptmoney.com/?p=3633#comment-4765 This really is a fascinating post. However, I would not give the advice that you have concerning credit card arbitrage. Investment strategies that involve debt (e.g. trading on margin, credit card arbitrage, borrowing money) is very risky and the average investor doesn't have a reason to engage in that level of risk. Trained investors who do it for a living is another matter. But the Average Joe should stay away. As per the debt consolidation and lower interest rate, I agree. This really is a fascinating post. However, I would not give the advice that you have concerning credit card arbitrage. Investment strategies that involve debt (e.g. trading on margin, credit card arbitrage, borrowing money) is very risky and the average investor doesn’t have a reason to engage in that level of risk. Trained investors who do it for a living is another matter. But the Average Joe should stay away. As per the debt consolidation and lower interest rate, I agree.

]]> By: Credit Guruhttp://ptmoney.com/0-balance-transfer-credit-cards/comment-page-1/#comment-4725 Credit Guru Thu, 01 Jan 1970 00:00:00 +0000 http://ptmoney.com/?p=3633#comment-4725 Excellent post. I also no longer need credit cards in my life, but I WANT them. Why? Rewards! I pay my balance in full each month, accrue no finance charges, and I get a $250 best buy card in the mail every few months (reward of my choice, I'm a tech junkie). So essentially I'm able to spend a free $250 just by using my credit card instead of my debit card for purchases. Pretty sweet deal I'd say! Excellent post. I also no longer need credit cards in my life, but I WANT them. Why? Rewards! I pay my balance in full each month, accrue no finance charges, and I get a $250 best buy card in the mail every few months (reward of my choice, I’m a tech junkie). So essentially I’m able to spend a free $250 just by using my credit card instead of my debit card for purchases. Pretty sweet deal I’d say!

]]> By: Nicolehttp://ptmoney.com/0-balance-transfer-credit-cards/comment-page-1/#comment-4722 Nicole Thu, 01 Jan 1970 00:00:00 +0000 http://ptmoney.com/?p=3633#comment-4722 I have used balance transfers several times. I haven't always been smart about them in the past, and the time period would run out with balances still on the cards...and back up went the rate. Currently, I have a zero percent transfer on two cards that run out in January, and a 1.9% transfer that runs out next June. I am aggressively trying to pay down my debt, and am trying to use transfer offers as a tool. I have used balance transfers several times. I haven’t always been smart about them in the past, and the time period would run out with balances still on the cards…and back up went the rate. Currently, I have a zero percent transfer on two cards that run out in January, and a 1.9% transfer that runs out next June. I am aggressively trying to pay down my debt, and am trying to use transfer offers as a tool.

]]> By: PT Moneyhttp://ptmoney.com/0-balance-transfer-credit-cards/comment-page-1/#comment-4654 PT Money Thu, 01 Jan 1970 00:00:00 +0000 http://ptmoney.com/?p=3633#comment-4654 Thanks for sharing, Matt. I intend to learn more about the micro-lending services soon. Seems like a good tool to use in certain situations. Thanks for sharing, Matt. I intend to learn more about the micro-lending services soon. Seems like a good tool to use in certain situations.

]]> By: Matt Jabshttp://ptmoney.com/0-balance-transfer-credit-cards/comment-page-1/#comment-4653 Matt Jabs Thu, 01 Jan 1970 00:00:00 +0000 http://ptmoney.com/?p=3633#comment-4653 Great write up PT. Instead of going this route I chose to go with Lending Club.I was doing a consolidation of high interest debt, so the 0% CC balance transfer game was not my best option.FWIW, I have been very satisfied w/my Lending Club experience. Great write up PT. Instead of going this route I chose to go with Lending Club.

I was doing a consolidation of high interest debt, so the 0% CC balance transfer game was not my best option.

FWIW, I have been very satisfied w/my Lending Club experience.

]]> By: The Biz of Lifehttp://ptmoney.com/0-balance-transfer-credit-cards/comment-page-1/#comment-4647 The Biz of Life Thu, 01 Jan 1970 00:00:00 +0000 http://ptmoney.com/?p=3633#comment-4647 PT, thanks for the thorough discussion on this topic. To answer your question, no I've never done a 0% interest rate transfer, but then I pay off my balance in full each month and only have 2 credit cards solely for the rewards. I'm at the point in my life where I could be self-funding if I wanted and don't really need credit cards at all. PT, thanks for the thorough discussion on this topic. To answer your question, no I’ve never done a 0% interest rate transfer, but then I pay off my balance in full each month and only have 2 credit cards solely for the rewards. I’m at the point in my life where I could be self-funding if I wanted and don’t really need credit cards at all.

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