Comments on: Zero Percent For One Year… http://www.stephenfung.net/zero-percent-for-one-year/ The Personal Yakkety Yakkings of an Internet Entrepreneur Thu, 08 Jan 2009 21:44:38 +0000 http://wordpress.org/?v=2.7 hourly 1 By: ZERO Percent is BACK! | Stephen Fung DOT NET... Work... Play... It's All The Same... http://www.stephenfung.net/zero-percent-for-one-year/comment-page-1/#comment-11071 ZERO Percent is BACK! | Stephen Fung DOT NET... Work... Play... It's All The Same... Wed, 24 Jan 2007 08:52:14 +0000 http://www.stephenfung.net/zero-percent-for-one-year/#comment-11071 [...] mentioned earlier this month how I got approved for a ZERO Percent Citibank Mastercard with no annual fee. In fact, I’ve already taken the [...] [...] mentioned earlier this month how I got approved for a ZERO Percent Citibank Mastercard with no annual fee. In fact, I’ve already taken the [...]

]]> By: My New Choice http://www.stephenfung.net/zero-percent-for-one-year/comment-page-1/#comment-10164 My New Choice Tue, 16 Jan 2007 23:01:01 +0000 http://www.stephenfung.net/zero-percent-for-one-year/#comment-10164 Dang, I just lost a comment on this post as I couldn't see the captcha image in FF. Basically I said that I play the 0% game myself and have $12k sitting in my ING Direct account courtest of AmEx. I also mentioned to Tyler that I have posts on my site about calling your credit card companies and asking for a better rate. Dang, I just lost a comment on this post as I couldn’t see the captcha image in FF. Basically I said that I play the 0% game myself and have $12k sitting in my ING Direct account courtest of AmEx.

I also mentioned to Tyler that I have posts on my site about calling your credit card companies and asking for a better rate.

]]> By: Stephen http://www.stephenfung.net/zero-percent-for-one-year/comment-page-1/#comment-9812 Stephen Mon, 15 Jan 2007 00:23:37 +0000 http://www.stephenfung.net/zero-percent-for-one-year/#comment-9812 If you have credit card debt, I recommend negotiating for a lower rate immediately. I have cards that give me 10.9%. They exist and most people just accept what they are offered. Doesn't hurt to demand what you want especially when it comes to interest rates on credit cards. If you have credit card debt, I recommend negotiating for a lower rate immediately. I have cards that give me 10.9%. They exist and most people just accept what they are offered. Doesn’t hurt to demand what you want especially when it comes to interest rates on credit cards.

]]> By: Tyler http://www.stephenfung.net/zero-percent-for-one-year/comment-page-1/#comment-9804 Tyler Sun, 14 Jan 2007 21:57:47 +0000 http://www.stephenfung.net/zero-percent-for-one-year/#comment-9804 That makes sense. I would like to get out of debt. Debt is no fun and is depressing. Though I won't attempt what you and John have done. I'll just keep my little limit and work with it and find anothe way to bring in extra money. That makes sense.

I would like to get out of debt. Debt is no fun and is depressing. Though I won’t attempt what you and John have done. I’ll just keep my little limit and work with it and find anothe way to bring in extra money.

]]> By: Stephen http://www.stephenfung.net/zero-percent-for-one-year/comment-page-1/#comment-9797 Stephen Sun, 14 Jan 2007 20:20:17 +0000 http://www.stephenfung.net/zero-percent-for-one-year/#comment-9797 In this case, both of us are using the rent free money to make money off of it. It is literally, the opposite of what most people do with it which is LOSE money. By taking advantage of the 0% loan, we have taken money out of the governments pocket by buying RRSP's that trigger tax refunds. When I transfer the money to my CIBC VISA, I get to cash advance the overpayment, which will be well over 7 - 8 K of interest free money for a year. Taking part of that for RRSP's, then reinvesting the refund will allow me to not only pay off the balance of $10K when the time comes, but it will also allow me to make a profit by making the money work for me for4 a year interest free. If I put away 5K for a year, I'll earn about $205 in interest at 4%. Most people pay that much in interest charges each month with their 18.9% high rate cards. Some even pay 21%. If a loan makes you money, it is GOOD DEBT. If a debt has you out of pocket each month then it is BAD DEBT. A credit card is usually bad debt for most people, but not for me. In this case, both of us are using the rent free money to make money off of it. It is literally, the opposite of what most people do with it which is LOSE money.

By taking advantage of the 0% loan, we have taken money out of the governments pocket by buying RRSP’s that trigger tax refunds. When I transfer the money to my CIBC VISA, I get to cash advance the overpayment, which will be well over 7 - 8 K of interest free money for a year. Taking part of that for RRSP’s, then reinvesting the refund will allow me to not only pay off the balance of $10K when the time comes, but it will also allow me to make a profit by making the money work for me for4 a year interest free.

If I put away 5K for a year, I’ll earn about $205 in interest at 4%. Most people pay that much in interest charges each month with their 18.9% high rate cards. Some even pay 21%.

If a loan makes you money, it is GOOD DEBT. If a debt has you out of pocket each month then it is BAD DEBT. A credit card is usually bad debt for most people, but not for me.

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