Archive for July, 2009

How does a balance transfer work on a cash-back reward credit card?

CelestialDream asked:


I have a rather large expense coming up (~$6,000), & I would like to know how a balance transfer will affect my personal situation. I pay all my cards in-full, but with this large expense coming up, I would like to execute my first balance transfer, without having to empty my Savings account.

Game plan:

- Use my 2% cash-back card to pay for the $6,000 purchase. ($120 cash back)
- Transfer the balance to another cash back card offering 2.99% for the life of the transfer.
- Take $3,000 out of my savings & pay down 50% of the balance.
- Make large monthly payments on the balance for 3-6 months, until I have paid it off.

My problem is this: The card I am transferring the balance to, is my favorite & most used card. Offering 5% cash on gas, 5% airline, 2% grocery, & 1.25% everywhere else. I would like to continue using the card after I transfer the balance.

My question is this: If I continue to use my card, & pay off NEW purchases of gas & grocery in-full, will I be assessed the regular finance charge APR of 13.99% because my balance is not “$0″ at the end of the month?

My ideas are these:

1. If my assumption above is correct, I can continue to use the card & paying off the new balance without penalty. As long as I continue making the minimum payments on the balance transfer side of the statement as well.

Example: $3,000 balance @ 2.99% with a minimum payment of 2% of the balance. 2% of balance = $60 + ~$7.50 in interest = $67.50. New gas & grocery purchases = $500. If I make a MINIMUM payment of $567.50, I will not be assessed any interest @ 13.99%, only the $7.50 on my 2.99% transfer, correct?

2 If my assumption above is NOT correct, I would have to pay down the balance transfer card to $0, transfer the balance, & not use it at ALL until the balance transfer was paid off. This way the only interest I would pay would be the 2.99%, correct?

Like I said, I’m a newbie to balance transfers, so if there are other options or if my ideas are way off, please feel free to enlighten me ;)

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Can someone vote on what is the best gift to give my dad on Fathers day?

Sara aka Taylors Mommy asked:


I’m thinking of giving my dad one or maybe 2 of these gift to give to him on Father’s day. Please vote on the best idea you think it’s great!

1. Take him out to Dinner or Lunch
2. Gift Card ( to get: cd’s, or free food, or gas? )
3. Money? ….( if so how much? )
4. Phone card

Please vote

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do people win stuff with surveys?

ShyGirl_87 asked:


are any of the surveys true? the ones with the free gift cards, resturant gift cards, or gas gift cards. does anyone ever win them?

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Should my husband quit his job?

shannon asked:


My husband and I both work for my dad. I only work part time and have only been there about a year. My husband has worked for my dad for 15 years. He has been treated quite badly at times, he will get promotions and then demoted within the next year. My dad is extra hard on him because he does not want anyone thinking he is giving him a “free ride”. Recently they had to let an employee of 35 years go due to drugs. Well that has caused a lot of drama around the office. Ex emloyee is telling dad lies and dad is calling hubby a liar. Hubby wants to find another job but I know if he quits my dad will say that he does not need me anymore either. DH does not have a high school diploma and makes pretty good money. On top of that he has a company phone, car maint., and a gas card. Is is worth putting up with the crap or should he go find another job and risk me losing my job and having to take a cut in pay?

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Does anyone know, if there is a way of getting free electric on a pre pay meter I have got a key for the meter?

Gary asked:


As well as the key for my meter, I have got a card for my gas, does anyone know of a way of getting free topup. Thanks

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Which card suits me best, please help?

punk rawk asked:


I want a new credit card, but it has to be a Visa because they are accepted anywhere. I currently have a Capital One, and I’m having serious issues with them. I want a card that has points you can earn to redeem for free cash back, etc. I also want a card that I can build a strong credit history with, great customer service, no annual fee, low interest rates, points for online purchase, gas purchases, stores purchases you know things like that. I charge mostly everything on card, so I might as well have some rewards while I’m at it, but cash back would be excellent. Are Chase Cash Back cards, any good? Drawbacks, oh and I want a card that will give me at least $1,000 credit line and can use anywhere? What cards would you recommend for the things I mentioned like Chase, CiTiBank, American Express, Discovery, Amex? I’m in no hurry to get a card, but it’s something I really need to consider soon. Thanks for your answers. No rude answers please.

Alex
I want a Visa that has the following features:

* Low interest rates
* No annual fee
* Great customer service
* Points for cash back
* Points for online purchases
* Points for gas purchses
* Points for store purchases
* Grocery purchases
* Basically a card that I can use anywhere WITHOUT any problems and with great rewards program. Thank You.

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Discounted gas if you pay for it in cash?

rebel_slash_hippy asked:


Were I live, in Connecticut, gas stations wanted to give people who payed for gas in cash a discount. I am assuming because credit card companies charge them a percentage for using them. Ok, then a little wile ago the gas stations went to the state officials and asked them to allow them to help their cash paying customers. I guess the law makers said it was ok and 6 gas stations in CT are giving away the discounts. Now understand Im not that smart when it comes to economics but I do remember learning about free market when I was in high school. So with that being said my question to you guys is living in a free market, why did the gas stations have to ask the state for permission? Thanks

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Help! I think i made a serious mistake

Tigran k asked:


I just got a call from “Caller Advantage” saying i was gonna receive a free $100 gas gift card. They already knew my name and everything and then wanted to know my cc number. I told them I didn’t feel comfortable giving that away but they said it was fine as long as i didn’t tell them my CVC number. so i gave it to them. but now im freaking out. Could they use my number to make purchases without knowing my CVC number???

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how do i get past the surveys to get my free stuff? iv completed so many when do i get my tv and free gas?

hartlman asked:


opinions for gifts and money.surveys for free products.everytime i get close they want a credit card # or ssi #or bank acct.#.if they require these they should say so before they waste peoples time and trouble..idont have some of these.if i did i would not post them for everyone to use .at my expense.if there are any of these survey or opinion sites that are real and dont want my#s please contact me at po box 791 greenacres wa 99016 or tell me how i can recieve the prizes ive been promised?

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what is the propper way for a Gas Station to react if they put more gas in your car than you requested?

jude asked:


for exhample -i asked for $15 and they filled my car adding $20 over the limit of my credit card. I may be fined a $35 fee. Shouldn’t i have gotten the gas for free?

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