Did a cash advance on credit card to help pay on first 30 year loan on my 165k home 10 years ago. Sold that home in early 08' made 140k.

Used 84k of that blood money to buy 425k house 30 year loan in 09' that I sold in 2011 for 475k. Made 60k

Used CC for multiple purchases of gold/silver in 08' up about 35k.

Made probably 3k in gift cards from Amex last 4 years

Bought last 3 vehicles at 0.9% while that 75l was earning 5% for years in high yield checking, now down to 2%

This post was edited on 2/4/13 at 12:53 pm

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Posted by Ace Midnight

Between sanity and madness

Member since Dec 2006

90928 posts

Posted on 2/4/13 at 1:07 pm to ItNeverRains

quote:
Did a cash advance on credit card to help pay on first 30 year loan on my 165k home 10 years ago. Sold that home in early 08' made 140k.

Used 84k of that blood money to buy 425k house 30 year loan in 09' that I sold in 2011 for 475k. Made 60k

Used CC for multiple purchases of gold/silver in 08' up about 35k.

Made probably 3k in gift cards from Amex last 4 years

Bought last 3 vehicles at 0.9% while that 75l was earning 5% for years in high yield checking, now down to 2%

And you consider this to be a fairly common, typical use of consumer debt by the average American?

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Posted by jso0003

Member since Jun 2009

5170 posts

Posted on 2/4/13 at 2:38 pm to ItNeverRains

Using high int rate CC debt to speculate on Gold prices seems a little extreme, but ill assume you purchased on some kind of 0% Apr for 15 months deal and paid it off at the end of the intro period.

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