- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
re: What are the benefits of 0% APR?
Posted on 1/20/13 at 8:04 am to foshizzle
Posted on 1/20/13 at 8:04 am to foshizzle
Does that card have a limit? If we get the house I want, I'd love to get a card like this, but don't want to buy the stuff monthly. To totally update the kitchen it would be about 10k.
Posted on 1/20/13 at 10:19 am to rpg37
quote:
What are the benefits of 0% APR?
Ummmm.....
quote:
0% APR
Posted on 1/20/13 at 10:41 am to rpg37
quote:
am single and make $60,000 a year. I don't need the card to live on. My remaining student loans are at a fixed 6.8% at $6,931. I can easily pay this off in a year. This would obviously save me a few hundred dollars on interest charges. Is this not the best route?
I don't think that's the point. The point is - put all your gasoline, food, routine purchases (purchases you would have made with cash) and quickly pay the loan off - like in 4 or 5 months - THEN switch to paying off the balance before the introductory offer wears off. That's the most bang for your buck, literally, as you will not have to futz around with balance transfers (with a much higher rate), or figure out the rules on how to transfer a SL to a 0% APR credit card (you probably can't, and if possible, I would bet it isn't free).
So, if you get the balance paid off in 4 months, you're looking at $40 to $65 (vice $300 or so) dollars of interest, nothing on the credit card, THEN rush to pay off the card before the intro rate runs out.
In other words, you don't have to live on the card, unless your rushing to pay off $7k of student loans in the very short term.
This post was edited on 1/20/13 at 10:43 am
Posted on 1/20/13 at 11:19 am to Ace Midnight
Definitely making sense now! Thanks!
Posted on 1/20/13 at 9:46 pm to rpg37
Just realized the OP lives in Casino land of the south
Posted on 1/21/13 at 1:34 pm to bamanmemphis
quote:
Just realized the OP lives in Casino land of the south
Teaching over here starting my career. Not sure how long I'll be here, but I thought it was important to get a glance at a new part of the country and expand my views.
Posted on 1/21/13 at 3:36 pm to wegotdatwood
quote:
Does that card have a limit? If we get the house I want, I'd love to get a card like this, but don't want to buy the stuff monthly. To totally update the kitchen it would be about 10k.
The limit is $22500. Doing project cost about that much, but I live in the DC area where it ain't cheap.
Posted on 1/21/13 at 3:36 pm to Ace Midnight
quote:
Ace Midnight
... has the correct idea.
Popular
Back to top
Follow TigerDroppings for LSU Football News