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Link Posted: 9/25/2023 10:05:01 AM EST
[#1]
My credit score is down to 806 after paying off some debts / closing some accounts. I think anything over 800 is fine.
PWS
Link Posted: 9/25/2023 11:10:07 AM EST
[#2]
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Quoted:

Elaborate?

I imagine you are somehow buying treasuries or whatever on a 0% card?
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Got 5 figures in credit card debt that keeps rolling over each month.

Thanks to Powell, interest rate arbitrage is back.

Elaborate?

I imagine you are somehow buying treasuries or whatever on a 0% card?

I am just using the card for normal purchases and bills. Cash then sits in a treasury MMF.

It’s a couple thousand a month I can invest with intent to pay off before the teaser rate expires.

I haven’t seen anyone offering $0 balance transfers again. If that starts up, then you can get the cash and buy treasuries directly.
Link Posted: 9/25/2023 11:16:43 AM EST
[#3]
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Paper fiat currency with serial numbers on each bill in the information age isn't protecting you from shit. Everything tracks you. Your phone, your PC, your car. Cameras scattered around the countryside watch where you're going. Fun fact - you're already living in a surveillance state.

You can say things like you only have a land line or a dumb cell... Sorry to say that doesn't matter either.

Your money in the bank is ones and zeros anyway. This kind of stuff is so low on my list of worries that it barely registers.
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The good news is, with 87% of everyone's purchases flowing through the too-big-to-fail banks, when the economy crashes next time our government won't have to waste any time deciding what to do...bailing them out is a no-brainer if we don't want it all to grind to a halt.  And even better, we'll hardly notice when they switch us to digital currency. Just distribute the new cards and apps.

They bet on our short-sightedness, and willingness to be enticed by one or two percent, that we'd give up all control...and we did. But muh points guys led the way...the brilliant walk amongst us...and they double down, peacocking every time the subject comes up.


Paper fiat currency with serial numbers on each bill in the information age isn't protecting you from shit. Everything tracks you. Your phone, your PC, your car. Cameras scattered around the countryside watch where you're going. Fun fact - you're already living in a surveillance state.

You can say things like you only have a land line or a dumb cell... Sorry to say that doesn't matter either.

Your money in the bank is ones and zeros anyway. This kind of stuff is so low on my list of worries that it barely registers.


Like I said, short-sightedness.  That (oops) other information age stuff sucks, too, and we totally rolled over for it, to make life easier. Good luck, I guess.
Link Posted: 9/25/2023 9:47:20 PM EST
[#4]
Discussion ForumsJump to Quoted PostQuote History
Quoted:

I am just using the card for normal purchases and bills. Cash then sits in a treasury MMF.

It’s a couple thousand a month I can invest with intent to pay off before the teaser rate expires.

I haven’t seen anyone offering $0 balance transfers again. If that starts up, then you can get the cash and buy treasuries directly.
View Quote View All Quotes
View All Quotes
Discussion ForumsJump to Quoted PostQuote History
Quoted:
Quoted:
Quoted:
Got 5 figures in credit card debt that keeps rolling over each month.

Thanks to Powell, interest rate arbitrage is back.

Elaborate?

I imagine you are somehow buying treasuries or whatever on a 0% card?

I am just using the card for normal purchases and bills. Cash then sits in a treasury MMF.

It’s a couple thousand a month I can invest with intent to pay off before the teaser rate expires.

I haven’t seen anyone offering $0 balance transfers again. If that starts up, then you can get the cash and buy treasuries directly.

So you're saying you're putting all your purchases on your card, letting it sit at 0% for awhile, and using your cash to buy treasuries, or sit in HYSA?

Either way, there's still decent deals out there for balance transfer cards.  I logged into my Fidelity account a few minutes ago and was greeted with this, on their homepage -- 0% for purchases and balance transfers for 18 billing cycles. And 2% back on all purchases, which you can put into a brokerage account.



I also happened to get a flyer about it in the mail the other day, which quotes it as 19.24% after the 18 cycles at 0%.  There's a 3% fee for balance transfers.

My credit union also has a card that is 0% for 12 billing cycles and then is somewhere between 16.5% and 18% after that.

Lots of other good options for 0% cards here.  Wow, the "Citi Diamond Preferred" MasterCard is 0% for 21-months on balance transfers (12-months on purchases).
Link Posted: 9/25/2023 10:21:30 PM EST
[#5]
Discussion ForumsJump to Quoted PostQuote History
Quoted:

So you're saying you're putting all your purchases on your card, letting it sit at 0% for awhile, and using your cash to buy treasuries, or sit in HYSA?

Either way, there's still decent deals out there for balance transfer cards.  I logged into my Fidelity account a few minutes ago and was greeted with this, on their homepage -- 0% for purchases and balance transfers for 18 billing cycles. And 2% back on all purchases, which you can put into a brokerage account.

https://i.imgur.com/d0X38K2.png

I also happened to get a flyer about it in the mail the other day, which quotes it as 19.24% after the 18 cycles at 0%.  There's a 3% fee for balance transfers.

My credit union also has a card that is 0% for 12 billing cycles and then is somewhere between 16.5% and 18% after that.

Lots of other good options for 0% cards here.  Wow, the "Citi Diamond Preferred" MasterCard is 0% for 21-months on balance transfers (12-months on purchases).
View Quote View All Quotes
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Discussion ForumsJump to Quoted PostQuote History
Quoted:
Quoted:
Quoted:
Quoted:
Got 5 figures in credit card debt that keeps rolling over each month.

Thanks to Powell, interest rate arbitrage is back.

Elaborate?

I imagine you are somehow buying treasuries or whatever on a 0% card?

I am just using the card for normal purchases and bills. Cash then sits in a treasury MMF.

It’s a couple thousand a month I can invest with intent to pay off before the teaser rate expires.

I haven’t seen anyone offering $0 balance transfers again. If that starts up, then you can get the cash and buy treasuries directly.

So you're saying you're putting all your purchases on your card, letting it sit at 0% for awhile, and using your cash to buy treasuries, or sit in HYSA?

Either way, there's still decent deals out there for balance transfer cards.  I logged into my Fidelity account a few minutes ago and was greeted with this, on their homepage -- 0% for purchases and balance transfers for 18 billing cycles. And 2% back on all purchases, which you can put into a brokerage account.

https://i.imgur.com/d0X38K2.png

I also happened to get a flyer about it in the mail the other day, which quotes it as 19.24% after the 18 cycles at 0%.  There's a 3% fee for balance transfers.

My credit union also has a card that is 0% for 12 billing cycles and then is somewhere between 16.5% and 18% after that.

Lots of other good options for 0% cards here.  Wow, the "Citi Diamond Preferred" MasterCard is 0% for 21-months on balance transfers (12-months on purchases).

You have to watch the fine print on balance transfers as you noted. There usually is a 3% to 5% fee for the initial transfer.

Now back in the mid aughts, you could get a real 0% interest rate, $0 fee balance transfer.
Link Posted: 9/25/2023 10:26:12 PM EST
[#6]
Discussion ForumsJump to Quoted PostQuote History
Quoted:

You have to watch the fine print on balance transfers as you noted. There usually is a 3% to 5% fee for the initial transfer.

Now back in the mid aughts, you could get a real 0% interest rate, $0 fee balance transfer.
View Quote

Interesting, I didn't know that.  Any time I've ever used a balance transfer card there has always been a balance transfer fee, but I don't recall ever using one that far back.  Thanks for the history lesson.

I see what you mean about no one offering "real" $0 balance transfer cards.
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