Handling puchases, transfers, & cash advances on same credit card

What is the best way to handle credit card â??special offer balance transfersâ??
in Money 2002 Deluxe? Some credit cards will split your monthly payments so
that 70% of the payment goes to the lower interest rated balance first, and
apply 30% to the higher interest purchases. Is there a way to project how
much interest will be paid out with this scenario? Should I set up multiple
accounts for the same credit card?
Thank you!

via_newsgroup
Fri Dec 10 13:12:17 CST 2004

In microsoft.public.money, Jody wrote:

>What is the best way to handle credit card ?special offer balance transfers?
>in Money 2002 Deluxe? Some credit cards will split your monthly payments so
>that 70% of the payment goes to the lower interest rated balance first, and
>apply 30% to the higher interest purchases. Is there a way to project how
>much interest will be paid out with this scenario?

Not in Money, AFAIK.

> Should I set up multiple
>accounts for the same credit card?

What I think you should consider is putting your new charges on a
different credit card. That way you will have control over which
amount goes to each purpose.

Chris
Sat Dec 11 10:33:16 CST 2004

Also, you lose the benefit of the lower interest rate on the balance
transfer. Payments to the account will always go to the lower interest rate
first, meaning the higher interest rate balance will survive longer.

I play this game all the time. In fact, I get offers of 0% cash advances and
balance transfers which I gladly take them up on, then deposit it my money
market account from which the payments are automatically deducted. In the
month during which the teaser rate expires, I pay off the balance, using the
money they sent me in the first place. I keep the interest earned. It's
basically a gift.

If I used the credit card account for other transactions, it would all be
pointless. Use a different card.
--
Chris Cowles,
Gainesville, FL

"Cal Learner-- MVP" <via_newsgroup@please.tnx> wrote in message
news:o4tjr0h1ro7gqn3tbnh80ce6pg0jtj2eh6@4ax.com...
> What I think you should consider is putting your new charges on a
> different credit card. That way you will have control over which
> amount goes to each purpose.

thefourthwall
Sun Dec 12 21:37:34 CST 2004

I'm new to the game of transferring an existing credit card balance to
a new card with 0% or low interest ... will you share where you have
found some of these?

thanks.

Chris Cowles wrote:
> Also, you lose the benefit of the lower interest rate on the balance
> transfer. Payments to the account will always go to the lower
interest rate
> first, meaning the higher interest rate balance will survive longer.
>
> I play this game all the time. In fact, I get offers of 0% cash
advances and
> balance transfers which I gladly take them up on, then deposit it my
money
> market account from which the payments are automatically deducted. In
the
> month during which the teaser rate expires, I pay off the balance,
using the
> money they sent me in the first place. I keep the interest earned.
It's
> basically a gift.
>
> If I used the credit card account for other transactions, it would
all be
> pointless. Use a different card.
> --
> Chris Cowles,
> Gainesville, FL
>
> "Cal Learner-- MVP" <via_newsgroup@please.tnx> wrote in message
> news:o4tjr0h1ro7gqn3tbnh80ce6pg0jtj2eh6@4ax.com...
> > What I think you should consider is putting your new charges on a
> > different credit card. That way you will have control over which
> > amount goes to each purpose.

Chris
Mon Dec 13 19:38:01 CST 2004

By opening my mailbox. It's a totally passive process and I have no insights
to offer. They don't happen every day, but often enough to maintain a
substantial balance in a money market account, gaining interest at no cost
to me.
--
Chris Cowles,
Gainesville, FL


"thefourthwall" <4thwall@nycap.rr.com> wrote in message
news:1102909054.148968.91680@z14g2000cwz.googlegroups.com...
> I'm new to the game of transferring an existing credit card balance to
> a new card with 0% or low interest ... will you share where you have
> found some of these?

via_newsgroup
Mon Dec 13 19:46:05 CST 2004

In microsoft.public.money, thefourthwall wrote:

>I'm new to the game of transferring an existing credit card balance to
>a new card with 0% or low interest ... will you share where you have
>found some of these?

I don't play that myself, but these cards work well with direct
download to Money (as do many others):

http://www.citibank.com/us/cards/chooser/reward.htm
http://www.citibank.com/us/cards/chooser/index.htm


https://www.novusnet.com/acqs/stdapp/req?cmd=main&cmpgn=LHN_apply_for_a_card_link