Let's talk about investing

[Helevitia]

BTW, this is the credit card I talk highly of. If you do your homework you will see this is the best pick out there right now.

http://citi.bridgetrack.com/usc/dividend/generic/div/default.htm?BTData=C02117A74667E6254524C4CABB0A1ACAB8B928C83F6E1E6F8299FB62&app=UNSOL&sc=4T4Z6LN5&m=3CK9000000W&langId=EN&siteId=CB&B=M&AID=10359682&PID=395252&SID=cardratingshome&BT_TX=1&ProspectID=87B636177B544914B9CEF1B18CA73596

[Helevitia]

OMG! There is a name for what I am doing. I am called a Stoozer! LMAO!

http://money.msn.co.uk/Bank_Plan/Cards/SpecFeat/TakeTheCredit/Whatrate/default.asp

[Helevitia]

Here's another great article about stoozing

http://boards.fool.co.uk/Message.asp?mid=8661943

[KvHagedorn]

I can't figure how they would make a profit on this card.. they must selectively approve people who carry high balances and charge exhorbitant interest.

btw, I suppose I am a rate tart. I look for those "life of the balance" balance transfer rates, though. Almost all of my credit card debt is now financed at below the rate you can get a mortgage.. for as long as it takes to pay it off.

[Wombat]

We use an REI CC (outdoor store) which rebates you 1% of all your charges outside their business and 10% rebate for store purchases. We also get a 20% reduction on one item when we receive our annual rebate. Most everything gets piled on the REI card.

I use my Discover card, and my REI Visa at REI and places that don't take Discover.


Discover gives you 1% cash. And if you use that cash at REI, you get 10% of it back.
REI gives you a 1% store credit. But you don't get 10% of your dividend back when you use it

Plus, Discover's web interface is rather nice.

[xortam]

Which card is this if you don't mind me asking? ...

It's an REI (Recreational Equipment, Inc.) VISA card through U.S. Bank. REI gives its members discounts on sale items as well as scratch-and-dent sales. Great store and knowledgeable people.

[xortam]

... Almost all of my credit card debt is now financed at below the rate you can get a mortgage.. for as long as it takes to pay it off.

You usually can't write off the CC interest on your taxes while you usually can write off mortgage points and interest.

[xortam]

I use my Discover card, and my REI Visa at REI and places that don't take Discover.


Discover gives you 1% cash. And if you use that cash at REI, you get 10% of it back.
REI gives you a 1% store credit. But you don't get 10% of your dividend back when you use it

Plus, Discover's web interface is rather nice.

I see. I wasn't aware of other cards with cash rebates. Interesting. We sometimes take part of the rebate in cash (turns to cash rather than store credit after some period of time) but we spent all of our rebate at the store this year. I took advantage of the 20% discount to buy some nice Polaroid glasses.

[Helevitia]

Make sure if you have a discover card you don't owe them money. They have something called a two-cycle billing which basically robs you of your money.

http://abclocal.go.com/kabc/news/CONSUMER/031604_nw_creditCard_charges.html

[Helevitia]

I can't figure how they would make a profit on this card.. they must selectively approve people who carry high balances and charge exhorbitant interest.

btw, I suppose I am a rate tart. I look for those "life of the balance" balance transfer rates, though. Almost all of my credit card debt is now financed at below the rate you can get a mortgage.. for as long as it takes to pay it off.

Why not get a 0%/12 months balance transfer card and transfer as much of your debt as you can over to that card. Keep paying down your debt on the current card. If you still owe money after 11 months, transfer the balance again to another 0%/12 months card. Repeat until debt is paid off.

[Wombat]

. I took advantage of the 20% discount to buy some nice Polaroid glasses.

[xortam]

I don't need bizarre looking athletic cups, thank you.

[Helevitia]

I found a new credit card offer

Apply for the card and you get a free $150 VISA gift card. In other words, you can use this $150 anywhere that VISA is accepted. There are some restrictions but they are minor. For instance, if you don't use the free gift card for 6 months, they start taking $2.50 off a month until the amount is 0. The other restriction is, you have to wait until June or July to receive the gift card. I can wait for free money

https://wwwn.applyonlinenow.com/USCCapp/Ctl/entry?sc=CGFX

[xortam]

But where's the part about investing? I just see CC schemes here.

[Helevitia]

True. I haven't talked about investing yet I just want to share the free money, that's all.

Now on to investing...

I am currently saving up money to buy a second house. It will probably be 2-3 years before I can do it, maybe longer. I will rent my current house out since I can break even or get positive cash flow.

Anybody else doing something similar?