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I did it!!

July 17th, 2007 at 09:41 pm

I got an offer for one of those balance transfer things. The deal is no interest til Oct. 2008 and there is no fee.
I wrote myself out a check for $5000 and put it in my savings account that pays 5.25% interest.
I hope I am not making a mistake. I know some of you guys have done this and made money. My dh is not too sure of this, so we will see. If it workes, I will make close to $298 in interest.
If not, I will pay it off right away. I will keep you posted.

Posted in saving | 6 Comments »

6 Responses to “I did it!!”

  1. disneysteve Says:
    July 17th, 2007 at 09:52 pm 1184709154
    1184709154

    Congrats! Nothing beats free money.

  2. Ima saver Says:
    July 17th, 2007 at 10:12 pm 1184710338
    1184710338

    Thanks!!

  3. boomeyers Says:
    July 17th, 2007 at 11:02 pm 1184713338
    1184713338

    Just make sure the fine print read that the no interest is for cash too, cause if you make the check out to YOURSELF, that is not considered a balance transfer, but instead a CASH advance, which usually comes with a higher interest rate. I only know, cause I almost did this once in paying something off. I had to make the check to the BANK, not myself. Check it out and let us know!

  4. scfr Says:
    July 18th, 2007 at 03:43 am 1184730189
    1184730189

    Let us know how it goes ~ I've always been too chicken to do that. I'm afraid I'll miss something and it will end up costing me.

  5. Amber Says:
    July 18th, 2007 at 03:55 am 1184730946
    1184730946

    Good luck, I personally wouldn't do it but I am sure things will work out for you

  6. Ima saver Says:
    July 18th, 2007 at 02:48 pm 1184770123
    1184770123

    I did make the check out to myself. Opps!! Well, we shall see, but now I know for next time!

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