Comments on: Interest Rates Are Getting Crazy

By: Debt Free Hispanic

Debt Free Hispanic — Mon, 25 Aug 2008 21:49:53 +0000

Interest does not make sense, i’d rather put my money in a mutual fund making 8%-9% so I get a greater return. People are going the opposite way financially. Thanks Amy for explaining.

By: Molto Denaro

Molto Denaro — Mon, 21 Jul 2008 02:18:01 +0000

I’ve been tempted to get a credit card that offers cash back so that I can get some cash back when I purchase things but I plan to immediately pay it back after my purchase.

However I don’t know how they are when it comes to paying back, my current credit card which I hardly use used to only allow me to pay on that EXACT date, if I tried to pay earlier then a $12 fee was attached to it.

Anybody have any experiences with cash-back credit cards?

By: Harland

Harland — Wed, 18 Jun 2008 17:22:19 +0000

Great advice Amy.

A few things. The 0% transfer teaser used to be better because there used to be a maximum of $50 or $75 for the finance fee, now it’s 3% for the maximum amount. So a transfer of $10K the fee used to be only $50 or $75 and now it’s $300.

And here is a tip to remember to pay the bills on time. You can set up a monthly recurring payment in most online banks.

Also in both yahoo email and google email there are reminders in the calendar section. I personally like yahoo because you can set 2 reminders (I usually set it 3 days and 1 day before the event). Once set the reminder will automatically send you an email for the date you set. You can set the reminders for one time or daily, weekly, monthly, yearly, etc.

To make sure your automatic payment was sent you can set the calendar to remind you every month to check your online bank. And say the the 0% teaser runs out February 2009 then you can set up a one time reminder in late January 2009 to tell you to pay off the card.

By: Brian

Brian — Fri, 06 Jun 2008 12:15:08 +0000

Credit cards have really been one of my biggest vices since college. Now, ten years after college, I’m still paying the piper. It’s truly legal slavery and the fact that they can just up your rate at any time and are not bound by the fluctuations in the prime rate is just ludacris.

Haveing one around for emergencies is important but keep it out of your wallet!

By: Tony Motes

Tony Motes — Tue, 03 Jun 2008 14:17:56 +0000

Thanks Amy for explaining to everyone the dangers of credit cards…I’ve lived without them for 3 years, and guess what? we have money! Imagine that….It also helps that we’re debt free except the house. I lead Financial Peace University at my church. Been on the Dave Ramsey plan going on 3 years.Enjoy your website, and wish you the best as you eliminate the debt in your life……

Tony