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| Diff Summary | |||||
|---|---|---|---|---|---|
| Title | I love this idea so | Everyone is correct | |||
| Date | 2015-02-20 20:59:21 | 2015-02-20 22:00:16 | |||
| Editor | Anonymous | Anonymous | |||
| Edit | Edit this version | Edit this version | |||
| Tags | |||||
| 2015-02-20 20:59:21 by Anonymous / Edit this version | 2015-02-20 22:00:16 by Anonymous / Edit this version | ||||
|---|---|---|---|---|---|
| t | 1 | I love this idea so much. I am going to copy this | t | 1 | Everyone is correct here,<a href="http://djltxgqdf |
| > | idea for my SIL and do one of each of her boys. | > | .com"> ellpciaesy</a> the worries of the Advisor. | ||
| > | She is the type of person who would just love a gi | > | If you're transferring to a card that already inc | ||
| > | ft like this. Thanks for all your cute ideas .. | > | ludes a balance, this is a very bad idea. They wi | ||
| > | ll hold the transferred balance and require you to | ||||
| > | pay the balances in order of appearance meaning | ||||
| > | that all your payments will be applied to the tra | ||||
| > | nsferred balance ONLY WHEN your higher interest cu | ||||
| > | rrent balances are paid in full. Transferred bala | ||||
| > | nces are almost always held until last.You'd be ba | ||||
| > | lancing on a fine line. You'd lose all tax benefi | ||||
| > | ts on your student loan interest. You'd be praying | ||||
| > | you could pay it off without losing your job, hav | ||||
| > | ing an emergency of ANY kind, and putting a massiv | ||||
| > | e hit on your credit score. A part of your credi | ||||
| > | t score is based on credit extended to you vs. how | ||||
| > | much you've used. For example, you have $5K in l | ||||
| > | oans and a new $5K credit card with 0% bal. transf | ||||
| > | er. You appear to have 5K in credit with 0% used. | ||||
| > | Great! Then you pay off the loan with the card. | ||||
| > | Now you show to have 5K in credit with 100% used. | ||||
| > | Loan companies might notice that you used the ca | ||||
| > | rd to pay off the loan, but your score will still | ||||
| > | show a heavy user. Card companies will frown a bi | ||||
| > | t because they will label you as a transferrer and | ||||
| > | not a user. They will gladly accept the 5K trans | ||||
| > | fer, but that is not the reason they gave you the | ||||
| > | card. In the future, if you beging to transfer ba | ||||
| > | lance from card to card, companies will turn you d | ||||
| > | own because they will not see you as a profitable | ||||
| > | customer. They might not tell it to you in those | ||||
| > | exact words, but they can do that. | ||||
