Posted by Ed on May 01, 2002 at 24:46:47:
I don’t think that it is a bad idea to play the credit card game but be careful. Numerous inquries and open lines of credit can reflect negitively on your credit score. It may be better to find a card with a low on going rate, but that is just my opinion.
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?
Thanks
Brian,WI