What's in your wallet?

On 12/23/2004 6:43 PM US(ET), snipped-for-privacy@UNLISTED.com took fingers to keys, and typed the following:

A Capital One card, a bank debit card, and about 15 dollars, but I never use cash, unless I have to.

Dust and cobwebs.

Not much after the gift buying. A set of new lathe bearings and it'll be empty.

GTO(John)

This is Turtle.

I haven't seen it since ThankGiving for my wife has it. She did give me my driver licences to put in my pocket.

TURTLE

here is

give me my

I guess she knows how to stop your extravagant christmas shopping.

Bob

Remember the Necronomicon scene in Army of Darkness, with the endless sucking vortex of less-than-nothingness?

-Scott

no wallet here just fill up my pocket when the wad feels too thin. Now that the new $20 bill is thicker, I hardly ever see a five or ten dollar bill - even one dollar bills seem rare.

A little money and a couple of credit cards. I have no idea what their interest rate is as I have not paid any interest on a credit card for over

I was wondering...

My sister got into a little debt, but I helped her by consolidating all of her credit cards (12,000.00 total) into one (mine) from "AT&T Universal" which offered me a balance transfer at 0% interest for 1 year.

Over the year she made payments ranging from 900.00 a month to 1200,00 a month and has 1 payment to go to complete payoff. No interest will have been paid on this offer.

Ya think this company is a little pissed, or might cancel the card?

snipped-for-privacy@aol.com

Not now. You no longer have free interest. They will be looking for a payback. :-)

A well-worn condom from high school days--still unused!

Dead Moths. :(

Happy Holidays Everyone!

later,

tom @

Well that's my point, they've made nothing over the 11 months, and with the final payment the offer is over, no interest as accrued, and they've effectively loaned 12,000.00 for free.

I'm sure it's countered by the number of people who consolidate but still have a balance after the "come-on" of no or very low interest expires. But I'm surious as to what their next move will be. snipped-for-privacy@aol.com

I'd guess they're not going to do anything. They effectively made a bet with him. He bet the debt would get paid down before the end of the free term and they bet it wouldn't. They lost. I'd guess they don't lose all that often or they'd stop making these sorts of offers.

I've used the "X months free interest" offers several times. If it's a 12 month deal, I pay it in 11. If it's a 6 month deal, I pay it in 5. That way they have a whole month to post the final payment and they can't pull any crap claiming I was late after they sit on it for a while. So sad, too bad. I don't make the rules; they shouldn't complain if I play the game they arranged.

the deal certainly is to attract the new account but there's other reasons they want that cash flow, volume, head count. Stuff that looks good on paper.

I stopped carrying credit cards years ago (it really puts the stop on compulsive buying). In my wallet I have a driver's license, library card, proof of car insurance, a spare car key, and a folded up template to buy a pot lid that I needed for the past 10 months.

"Joseph Meehan" wrote in message news:HXTyd.11116

Right on Joseph. OT I know but you gotta buy stuff to do 'home repairs'! Right? Smart moves. a) Pay off your card balance shortly before the due date. b) Don't ever; except an extreme emergency use the CC to get cash in hand. Interest at a high rate starts immediately. c) Don't use bank machines that don't belong to organisations other than your own; there WILL be 'other' charges. d) Be familiar with what your financial institution, bank etc, charges, if anything, for various transactions. Combine or avoid to minimize them. Take advantage of any (I won't use the word free, because nothing ever is; let's say "that are included") that are suitable for you._ And if you do have to borrow most people can get an unsecured line of credit from a bank or other financial institution at interest rate depending which country you are in, between 4.5 and say 7%. A secured loan would most likely be even cheaper. A LOC is a lot cheaper than even the lower interest rate credit cards; e.g. we have only one CC on which the unpaid balance interest rate would be 18.9% (Annual rate). If we ever paid any interest! Since getting that card, about five years ago, we have paid exactly one cent of interest (That's one cent, btw, not one per-cent!) I don't know why it's even one cent; maybe a computer slipped a gear in the third place of decimals somewhere and put the remainder difference in as interest? The one advantage of a CC is that you can delay the cost of paying for a purchase by up to approx. two thirds of a month. In the meantime you get a little time to plan how to meet the cost. Right now, for example, we know exactly what we owe on the card and when it is due to be paid, electronically to continue to avoid any interest. But I get the understanding that this is a pretty savvy group of people who could probably teach me a thing or two! All the best financially. Terry. PS. In the meantime I'd like to know who has the use of my money during the two to five days it takes to disappear from my bank account as a transfer payment to reach my payee! But that's another topic.