Somebody talk me out of it!!

[RAMWDWFAN]

Today I received a great rate on one of my credit cards. The interest rate would be 5.9% until the balance is paid off. Talk me out of buying a 100 point add-on at BCV!

 

[DiznEeyore]

Don't look at me!

 

[DemoBri1]

Try as I might, I couldn't talk myself out of buying into BCV, so there is no way I am going to be able to talk you out of it.

 

[erikthewise]

Don't do it, it's a trap!

More to the point, I think I saw an offer recently where the rate was 4.9% until the balance was paid.

 

[SamS]

Sure would be tempting, but "lifetime rates" can and do change. Be careful with the fine print.

 

[Tagrel]

I've been paying off one of these 4.9% deals for years now, and its still going!

Caution: Do NOT put anything else on the card though!!! Any future balance is charged the higher 'normal' rate of interest, and it CAN'T be paid off until the original balance is paid in full first.

(i.e. If you put $1000 on after the 5.9% deal, then you will pay the full interest amount (say, 15%) on the $1000 each month until the original balance is paid off. (That's how they get most people). I just put the card away, so that I don't charge anything to it anymore - and make sure you don't have any automatic monthly charges (or even yearly for that matter!))

 

[SAKPEG99OKW]

with the way interest rates are now, you should look into a home equity loan or line. DW and I just got one for 4.25%.

Just another allternative.


Good luck,

Scott, Peg and Tyler