Playing the credit card game - Posted by Brian, WI
Posted by Brian, WI on April 24, 2002 at 12:23:53:
Looking for anyones thoughts about “Playing the credit card game”.
You know, get a card with no interest for x number of months, then when that time is about to come up, transfer the balance onto another 0% card and closing out the first, and on, and on.
I have excellent credit and amoung all the cards I and my wife have there is about $100,000 in unsecured credit available.
I’ve used one line for part of a down payment to buy my last 2 buildings. I used $16,000 in March of 99 and have since paid that off at least 8 months ago.
But anyway, I put a new roof on a property last year for about $9000. I put it all on a 0% until July 2002 line of credit. Now come around July, should I get another 0% card from the many offers I get in the mail each day and roll the balance over, closing the existing one or is this not a good idea?
My plan is to get a Working Line Of Credit(WLOC)
and I hope to make it to the lenders workshop, to learn more about that and have that line from just one place instead of spread over a number of credit cards/lines of credit, but if I can’t make that I’m I kind of still doing the same thing with the cards/lines I have? Or is that not a good overall plan?