Comments on: From Zero Percent to Thirty Percent in Just One Month http://www.getrichslowly.org/blog/2006/05/23/from-zero-percent-to-thirty-percent-in-just-one-month/ personal finance that makes cents Thu, 20 Nov 2008 13:55:02 +0000 http://wordpress.org/?v=2.5.1 By: Isabel http://www.getrichslowly.org/blog/2006/05/23/from-zero-percent-to-thirty-percent-in-just-one-month/#comment-101471 Isabel Fri, 19 Oct 2007 15:51:10 +0000 http://www.getrichslowly.org/blog/2006/05/23/from-zero-percent-to-thirty-percent-in-just-one-month/#comment-101471 NEVER EVER deal with Household bank. They are affiliated with Household Finance. It took forever to pay off $1500.00. They misplaced? my payments and continued to increase my apr. I made copies of every statement, check and anything else that concerned them andit is a good thing I did. These people are crooked thieves. NEVER EVER deal with Household bank. They are affiliated with Household Finance. It took forever to pay off $1500.00. They misplaced? my payments and continued to increase my apr. I made copies of every statement, check and anything else that concerned them andit is a good thing I did. These people are crooked thieves.

]]> By: free bt http://www.getrichslowly.org/blog/2006/05/23/from-zero-percent-to-thirty-percent-in-just-one-month/#comment-19724 free bt Wed, 22 Nov 2006 04:21:08 +0000 http://www.getrichslowly.org/blog/2006/05/23/from-zero-percent-to-thirty-percent-in-just-one-month/#comment-19724 When it comes to balance transfer offers, I only take advantage of the ones being offered by big, well-known banks. I only hear and read really bad horror stories from folks who've dealt with banks that cater mainly to the sub-prime market. If a bank pulls a fast one with a balance transfer offer, and you feel you've been treated unfairly, then transfer the balance to a well-known bank as soon as possible. I've been transferring balances for over 3 years now, and I've never had a major issue. If you play by the rules, stay disciplined and keep your credit score in good shape, then you can really do well with zero percent balance transfer offers. When it comes to balance transfer offers, I only take advantage of the ones being offered by big, well-known banks. I only hear and read really bad horror stories from folks who’ve dealt with banks that cater mainly to the sub-prime market.

If a bank pulls a fast one with a balance transfer offer, and you feel you’ve been treated unfairly, then transfer the balance to a well-known bank as soon as possible.

I’ve been transferring balances for over 3 years now, and I’ve never had a major issue. If you play by the rules, stay disciplined and keep your credit score in good shape, then you can really do well with zero percent balance transfer offers.

]]> By: J.D. http://www.getrichslowly.org/blog/2006/05/23/from-zero-percent-to-thirty-percent-in-just-one-month/#comment-107 J.D. Tue, 23 May 2006 16:41:59 +0000 http://www.getrichslowly.org/blog/2006/05/23/from-zero-percent-to-thirty-percent-in-just-one-month/#comment-107 I had similar thoughts upon reading the story. It's hard to know exactly what happened without having everything in front of us. What <i>is</i> sure is that the bank in question is behaving poorly. They're not exercising customer service. Unless there's something else going on here behind the scenes (which is quite possible), the bank ought to have worked with the guy. They have no reason not to except for short-term profit. I like the hammer analogy. Some of us aren't very handy and should leave the hammering for others! :) I had similar thoughts upon reading the story. It’s hard to know exactly what happened without having everything in front of us.

What is sure is that the bank in question is behaving poorly. They’re not exercising customer service. Unless there’s something else going on here behind the scenes (which is quite possible), the bank ought to have worked with the guy. They have no reason not to except for short-term profit.

I like the hammer analogy. Some of us aren’t very handy and should leave the hammering for others! :)

]]> By: VinTek http://www.getrichslowly.org/blog/2006/05/23/from-zero-percent-to-thirty-percent-in-just-one-month/#comment-106 VinTek Tue, 23 May 2006 16:25:19 +0000 http://www.getrichslowly.org/blog/2006/05/23/from-zero-percent-to-thirty-percent-in-just-one-month/#comment-106 Re: the nightmare credit card story. I'm not so sure that John didn't really use the wrong checks, as the credit card company claimed. I certainly agree that a credit card company will use every possible means to make money from a customer. After all, that's what they're in business to do. But I seriously doubt that they would stoop to the level of fraud. Having read, the story, I'm not convinced that John read the fine print upon receiving the Welcome Kit, although he probably did read the fine print on the application. At any rate, my position is that a credit card are like a hammer. Use it properly, and you can do something useful, like drive a nail. Use it carelessly, and you'll whack your thumb. Even a moment of inattention is enough to make a difference. Re: the nightmare credit card story.

I’m not so sure that John didn’t really use the wrong checks, as the credit card company claimed. I certainly agree that a credit card company will use every possible means to make money from a customer. After all, that’s what they’re in business to do. But I seriously doubt that they would stoop to the level of fraud. Having read, the story, I’m not convinced that John read the fine print upon receiving the Welcome Kit, although he probably did read the fine print on the application.

At any rate, my position is that a credit card are like a hammer. Use it properly, and you can do something useful, like drive a nail. Use it carelessly, and you’ll whack your thumb. Even a moment of inattention is enough to make a difference.

]]> By: VinTek http://www.getrichslowly.org/blog/2006/05/23/from-zero-percent-to-thirty-percent-in-just-one-month/#comment-105 VinTek Tue, 23 May 2006 14:49:41 +0000 http://www.getrichslowly.org/blog/2006/05/23/from-zero-percent-to-thirty-percent-in-just-one-month/#comment-105 beck, Go with your gut. Yes, everyone I know who has tried ING Direct is also telling me great things as well. But since any savings account is for short-term holding anyway, do you really need that extra point or two so badly that you can't sleep at night? I'm all for maximizing ROI, but for money I need to tap at a moment's notice, I want to be able to march into an office and yell at someone in case I don't get what's mine when I need it. beck,

Go with your gut. Yes, everyone I know who has tried ING Direct is also telling me great things as well.

But since any savings account is for short-term holding anyway, do you really need that extra point or two so badly that you can’t sleep at night? I’m all for maximizing ROI, but for money I need to tap at a moment’s notice, I want to be able to march into an office and yell at someone in case I don’t get what’s mine when I need it.

]]> By: beck http://www.getrichslowly.org/blog/2006/05/23/from-zero-percent-to-thirty-percent-in-just-one-month/#comment-104 beck Tue, 23 May 2006 14:07:25 +0000 http://www.getrichslowly.org/blog/2006/05/23/from-zero-percent-to-thirty-percent-in-just-one-month/#comment-104 <em>You've got to be suspicious of anything a bank is trying to sell you.</em> Agreed. I see folks all over the internets claiming the praises of one ING Direct (w/great rates for savings accounts). This violates two of my steadfast rules: #1 If it's too good to be true, it probably is. #2 Be suspicious of people trying to sell you things. I called them up yesterday after being recommended to them by my financial advisor and was on the receiving end of a hard sale. I'm conflicted... you know? Go with the masses who have great things to say + the recommendation of a financial advisor <strong>or</strong> follow my gut? You’ve got to be suspicious of anything a bank is trying to sell you.

Agreed. I see folks all over the internets claiming the praises of one ING Direct (w/great rates for savings accounts).

This violates two of my steadfast rules:

#1 If it’s too good to be true, it probably is.

#2 Be suspicious of people trying to sell you things.

I called them up yesterday after being recommended to them by my financial advisor and was on the receiving end of a hard sale.

I’m conflicted… you know? Go with the masses who have great things to say + the recommendation of a financial advisor or follow my gut?

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