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What A Year of 0% APR Arbitrage Has Brought Me@PFBlog.com: The UDate: Fri, 16. May 2008 23:31:36
Long-term readers of PFBlog knows I have been taking advantage of credit card companies for years. Especially, I'm very good at 0% APR arbitrage, whereby I sign up for new credit cards with attached introductory 0% APR balance transfer offer, move the entire balance immediately to my bank account, and enjoy the high saving account rates of 5% or more while remitting only the monthly minimal payment back to the credit card company.
Of course, this strategy will drag down your credit score. Last summer, especially, I applied five cards in two months' time, and my credit score tanked from 720s to 640s, and I was essentially denied new credit application after being seen a credit risk by most banks. But credit score is only of cosmetic value if you don't need credit any time soon. To me, after all, I have no better use of my credit score now that I'm sitting on a portfolio of over $800k and has no plan to buy a property any time soon.
The below chart is a great summary of what happened in the last dozen months:
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Hot Deal: 5% cashback on everything from Citi CashReturns Mastercard
Read more news like this from PFBlog.com, The Unique Personal Finance Blog Since 2003.
Banks Lure Consumers with Balance Transfer CardsDate: Mon, 25. January 2010 15:29:38
Australia’s banks are luring consumers with high credit card debt into special low rate credit card balance transfer offers but analysis by financial comparison website mozo.com.au reveals the most important factor for consumers looking to tackle credit card debt is not the interest rate, but the speed in which they intend to pay off the balance. (PRWeb Jan 20, 2010)
Read the full story at http://www.prweb.com/releases/2010/01/prweb3465434.htm
Providers of CareOne Credit Counseling Services Show How Understanding Credit Card Statements CaDate: Wed, 13. August 2008 03:21:38
Credit card statements, the fees, and the fine print can be difficult for many consumers to understand. When consumers don't understand the basic elements of their credit card statements, they put themselves at risk for being slapped with fees and
Airline Credit Card QuestionsDate: Sun, 29. November 2009 15:36:05
pimg src=http://z.about.com/d/budgettravel/1/G/W/9/cards.jpg align=right title=10 Quick Tips for Budget Travel in Paris width=125 height=92 border=0Is the a href=http://clk.about.com/?zi=1/1hc#038;zu=http://budgettravel.about.com/od/airfarescruises/a/picks_aircards.htmairline credit card/a still in its heyday? I think not. These cards became popular many years ago because they allowed budget travelers to earn frequent flyer miles from everyday purchases like groceries and oil changes. But airline frequent flyer miles have become increasingly difficult to use as a budget travel tool. Many of us like to shop multiple airlines for a good deal, pay for those bargains in cash, and then use travel rewards to book hotels or car rentals. A a href=http://clk.about.com/?zi=1/1hc#038;zu=http://budgettravel.about.com/od/airfarescruises/a/picks_bankcards.htmbank-based travel rewards credit card/a works quite well in that scenario. What is best for you? There is no blanket answer. You must look at your own patterns of spending and travel. You must ask yourself if being tied to one carrier through an a href=http://clk.about.com/?zi=1/1hc#038;zu=http://budgettravel.about.com/od/aircreditcards/qt/airlinecreditcard.htmairline credit card/a is best. /p
p style="background:#f5f3ef;border: 1px solid #d5d0bf;padding:.5em;"a href="http://clk.about.com/?zi=1/1hczu=http://budgettravel.about.com/b/2009/11/08/airline-credit-card-questions.htm"Airline Credit Card Questions/a originally appeared on a href="http://clk.about.com/?zi=1/1hczu=http://budgettravel.about.com/"About.com Budget Travel/a on Sunday, November 8th, 2009 at 16:28:20./ppa href="http://clk.about.com/?zi=1/1hczu=http://budgettravel.about.com/b/2009/11/08/airline-credit-card-questions.htm"Permalink/a | a href="http://clk.about.com/?zi=1/1hczu=http://budgettravel.about.com/b/2009/11/08/airline-credit-card-questions.htm#gB3"Comment/a | a href="http://budgettravel.about.com/gi/pages/shareurl.htm?PG=http://budgettravel.about.com/b/2009/11/08/airline-credit-card-questions.htmzItl=Airline Credit Card Questions"Email this/a/p
Sell Bank Card HolderDate: Sun, 11. January 2009 15:41:59
Frosted, rigid holder with two thumb notches. Holds one 30 mil (750 mic) card such as an ATM or credit card. Polypropylene
Watch Out for Expensive Currency ExchangesDate: Mon, 12. January 2009 04:04:33
When overseas, it is usually best to get local currency through an ATM with either a bank debit card or credit card. When you start exchanging money in unfamiliar places,...
Fed Limits Credit Card Fees but Persels & Associates Warns Consumers to Watch for Other Bank FeeDate: Tue, 22. June 2010 15:40:00
Credit card users can breathe a sigh of relief, said Persels & Associates (http://www.perselsandassociates.com/) Director of Operations Joe Cosentini. The Federal Reserve has finalized new credit card rules to go into effect Aug. 22, 2010 and the new rules put a limit on late fees for credit card users. (PRWeb Jun 17, 2010)
Read the full story at http://www.prweb.com/releases/credit_card_bank_fees/legal_law_debt/prweb4155924.htm
Cardratings.com Poll Finds Credit Card Act of 2009 Worries ConsumersDate: Mon, 24. August 2009 04:46:29
A recent poll conducted by CardRatings.com -- the most comprehensive free source for comparing credit card offers -- found that the soon-to-be enacted Credit Card Accountability, Responsibility and Disclosure (CARD) Act has cardholders concerned. More than 80 percent of respondents believe the CARD Act will lead to elevated interest rates, although the primary goal of the bill is consumer protection. CardRatings.com founder Curtis Arnold agrees. (PRWEB Aug 19, 2009)
Read the full story at http://www.emediawire.com/releases/2009/08/prweb2763514.htm
MBNA and Liverpool FC Launch New Credit Card to the FansDate: Mon, 22. June 2009 04:16:22
LFC MasterCard offers fans opportunity to show allegiance to their club. Card available in UK, Ireland and Spain. MBNA makes a contribution to the club with each approved application and every purchase thereafter. Card rates and charges competitive with traditional credit cards. MBNA is the largest provider of football affinity credit cards in the UK and world's largest independent credit card lender. (PRWEB Jun 19, 2009)
Read the full story at http://www.emediawire.com/releases/2009/06/prweb2545654.htm
CreditCardCity.com Gets a New Look, Offers Consumer In-Depth Advice about Credit CardsDate: Tue, 22. July 2008 03:16:18
As the number of online credit card applicants increases, numerous websites have taken measures to include more options and information for them. CreditCardCity.com, a site that offers both personal and business-related credit cards from various issuers, recently updated its look and design to accommodate today’s consumer. Some of the features added include informative articles on credit card news and trends, better organization, and easy navigational links. (PRWEB Jul 21, 2008)
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