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Old 09-20-2017, 02:42 PM   #16 (permalink)
Xist
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Someone suggested paying all of your expenses with your credit card while your actual money earns interest, and then paying off your credit card each month right before the due date.

Since my savings account has 0.01% interest, no.

The Northpointe account would work. I am not sure what the best course of action would be once one has $10,000 in there, but at this point, for me, that is a "rich people problem," but you could always open as many checking accounts as you need, and purchase 50¢ Amazon gift cards.

This page is weird: 6 Major Credit Card Mistakes "Pay More Than the Minimum Balance." That should be phrased differently.

"Consider that a $3 gallon of milk purchased with a credit card can quickly turn into a $30 gallon of milk if you don't pay off the balance at the end of the month."

You can quickly become upside-down on milk?!

No, really. No.

It would take over eight years if you pay 36% interest after the minimum payment. That is quick on a geological scale or from the perspective of an Ent, but no.

Quote:
If you only paid the minimum on your $10,000 balance, it would take you 452 months (over 8 years!) and cost you over $19,000 in interest alone.
https://www.iwillteachyoutoberich.co...doesnt-matter/

Which would be a $3 gallon of milk slowly becoming a $5.70 gallon of milk.

This calculator has links showing:

I wonder where they get those numbers. This page says that I personally cannot negotiate for a raise. Negotiating my APR could not possibly save me $2,000 a year because I would only accrue $452.43 in interest if I did not make any payments, and I am making as many payments as possible!

I found something! According to The Penny Hoarder, you can get PayPal MyCash cards and pay a $3.95 fee per $500, although they limit you to $4,000 a month, and some say they PayPal suspended or closed their account, claiming they abused the system.

$7.90 for $1,000 is 0.79%.

They also mention stores offering discounts on pre-paid debit cards, where you can actually purchase them for slightly less than their cash value. Unfortunately, I did not see any on Slickdeals.com.
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