Official DIS Debt/Finance Support Thread

[DiznEeyore]

Does anyone know if I switch a credit card debt to one with rewards, does that money count towards the rewards programs? Is transferred money exempt from the rewards and only new charges count?

Any balance transfer offers I've gotten from rewards cards state that transferred balances are NOT eligible to receive reward points/dollars.

That being said, I just rec'd the dreaded Citi letter telling me that my 5% gas/grocery card is being downgraded to 2%. In that letter, they also state that they'll give you 5 dividend dollars for each balance transfer of $1500 or more. That's definitely something new.

HTH!

 

[!@#$%]

Be weery of any card that doesnt plainly say what percentage it is in dollars. If they use a "dollar system" or point system or dividend dollars you might be getting a lesser card. The simple way to find out is to ask them to answer a point blank question. "If I spend EXACTLY $2500 <<<ANYWHERE I CHOOSE>>>, will you send me a $25.00 check?" Anything OTHER THAN yes and you can do better. AND of course if what you buy is grocerys or gas its often much better. The Some of them give you "credits" and one credit does NOT equal one penny as it should.
They are getting sneaky.

 

[momz]

i am really interested in this thread. already making some changes. we signed up for bi-weekly mortgage payments to get ahead on our mortgage. cut our cable costs by going to a cheeper plan (eliminating the unnecessary stuff), and transferred our 2 credit cards to one 0% interest card (we owe about $15,000 in credit card debt....ouch). also i am considering switching phone service to vonage. currently have a plan that includes unlimited long distance, but i don't make that many long distance calls, so i think vonage might be a better choice. really, it is the credit cards that are killing us. i have carried a balance for several years, and just can't seem to get out from under them. the interest and fees alone account for a good portion of the debt on them. In addition, we are making a commitment to stop eating out, we are taking this one week at a time to see how it goes. thanks for the thread, it is very encouraging.

 

[jenr812]

Thanks for the encouragement everyone! It's fun to share my excitement here And to those who are far off from reaching that milestone - just one step at a time. The worst thing is not to do anything because the task seems too big. Baby steps...