Comments on: Credit Card Arbitrage with App-o-Rama http://www.milliondollarjourney.com/credit-card-arbitrage-with-app-o-rama.htm Building Wealth through Saving and Investing Sat, 21 Nov 2009 03:00:37 -0500 http://wordpress.org/?v=abc hourly 1 By: raymond http://www.milliondollarjourney.com/credit-card-arbitrage-with-app-o-rama.htm/comment-page-1#comment-23928 raymond Wed, 30 Jan 2008 00:58:23 +0000 http://www.milliondollarjourney.com/credit-card-arbitrage-with-app-o-rama.htm#comment-23928 i totally agree app-o-rama could also help you on all your problems with your credit cards i totally agree app-o-rama could also help you on all your problems with your credit cards

]]> By: www.bestdebtarticles.info » Credit Card Arbitrage with App-o-Rama http://www.milliondollarjourney.com/credit-card-arbitrage-with-app-o-rama.htm/comment-page-1#comment-14397 www.bestdebtarticles.info » Credit Card Arbitrage with App-o-Rama Sun, 14 Oct 2007 06:25:55 +0000 http://www.milliondollarjourney.com/credit-card-arbitrage-with-app-o-rama.htm#comment-14397 [...] FrugalTrader wrote a fantastic post today on “Credit Card Arbitrage with App-o-Rama”Here’s ONLY a quick extractApply to as many 0% balance transfer credit cards as you can, as fast as you can. They recommend that you apply quickly because as you apply for a credit card, your credit score will be affected. However, there is a time lag before … [...]

[...] FrugalTrader wrote a fantastic post today on “Credit Card Arbitrage with App-o-Rama”Here’s ONLY a quick extractApply to as many 0% balance transfer credit cards as you can, as fast as you can. They recommend that you apply quickly because as you apply for a credit card, your credit score will be affected. However, there is a time lag before … [...]

]]> By: www.bestfinancialadvisor.info » Credit Card Arbitrage with App-o-Rama http://www.milliondollarjourney.com/credit-card-arbitrage-with-app-o-rama.htm/comment-page-1#comment-14395 www.bestfinancialadvisor.info » Credit Card Arbitrage with App-o-Rama Sun, 14 Oct 2007 05:24:31 +0000 http://www.milliondollarjourney.com/credit-card-arbitrage-with-app-o-rama.htm#comment-14395 [...] FrugalTrader wrote a fantastic post today on “Credit Card Arbitrage with App-o-Rama”Here’s ONLY a quick extractApply to as many 0% balance transfer credit cards as you can, as fast as you can. They recommend that you apply quickly because as you apply for a credit card, your credit score will be affected. However, there is a time lag before … [...]

[...] FrugalTrader wrote a fantastic post today on “Credit Card Arbitrage with App-o-Rama”Here’s ONLY a quick extractApply to as many 0% balance transfer credit cards as you can, as fast as you can. They recommend that you apply quickly because as you apply for a credit card, your credit score will be affected. However, there is a time lag before … [...]

]]> By: www.topcreditcardsadvice.info » Credit Card Arbitrage with App-o-Rama http://www.milliondollarjourney.com/credit-card-arbitrage-with-app-o-rama.htm/comment-page-1#comment-14394 www.topcreditcardsadvice.info » Credit Card Arbitrage with App-o-Rama Sun, 14 Oct 2007 05:01:35 +0000 http://www.milliondollarjourney.com/credit-card-arbitrage-with-app-o-rama.htm#comment-14394 [...] FrugalTrader wrote a fantastic post today on “Credit Card Arbitrage with App-o-Rama”Here’s ONLY a quick extractThey recommend that you apply quickly because as you apply for a credit card, your credit score will be affected. However, there is a time lag before credit agencies are alerted of your credit application. So when you apply fast, … [...]

[...] FrugalTrader wrote a fantastic post today on “Credit Card Arbitrage with App-o-Rama”Here’s ONLY a quick extractThey recommend that you apply quickly because as you apply for a credit card, your credit score will be affected. However, there is a time lag before credit agencies are alerted of your credit application. So when you apply fast, … [...]

]]> By: Content Writer http://www.milliondollarjourney.com/credit-card-arbitrage-with-app-o-rama.htm/comment-page-1#comment-13659 Content Writer Thu, 04 Oct 2007 07:30:41 +0000 http://www.milliondollarjourney.com/credit-card-arbitrage-with-app-o-rama.htm#comment-13659 Great!!! nice post .. Great!!!
nice post ..

]]> By: nancy (aka money coach) http://www.milliondollarjourney.com/credit-card-arbitrage-with-app-o-rama.htm/comment-page-1#comment-13649 nancy (aka money coach) Thu, 04 Oct 2007 05:21:19 +0000 http://www.milliondollarjourney.com/credit-card-arbitrage-with-app-o-rama.htm#comment-13649 wow - just when I thought I'd heard it all... there's cc. arbitrage! Who knew? (I didn't). Regardless of what any of us think of it, thanks for putting it out there as an option. Wild. (and Citizens Bank of Canada offers 3.8% and is owned by VanCity credit union, so there's a feel good component to the account, for what that's worth) wow – just when I thought I’d heard it all… there’s cc. arbitrage! Who knew? (I didn’t). Regardless of what any of us think of it, thanks for putting it out there as an option. Wild. (and Citizens Bank of Canada offers 3.8% and is owned by VanCity credit union, so there’s a feel good component to the account, for what that’s worth)

]]> By: FrugalTrader http://www.milliondollarjourney.com/credit-card-arbitrage-with-app-o-rama.htm/comment-page-1#comment-13634 FrugalTrader Thu, 04 Oct 2007 01:01:13 +0000 http://www.milliondollarjourney.com/credit-card-arbitrage-with-app-o-rama.htm#comment-13634 Traciatim, I'll have to check with a credit pro, but if you have multiple applications in to multiple credit cards in a short period of time, I can see it severely diminishing your credit. Traciatim, I’ll have to check with a credit pro, but if you have multiple applications in to multiple credit cards in a short period of time, I can see it severely diminishing your credit.

]]> By: Traciatim http://www.milliondollarjourney.com/credit-card-arbitrage-with-app-o-rama.htm/comment-page-1#comment-13626 Traciatim Wed, 03 Oct 2007 22:15:25 +0000 http://www.milliondollarjourney.com/credit-card-arbitrage-with-app-o-rama.htm#comment-13626 FT, I thought multiple hits in a short period (IE, Less that 7 days) was considered one hit because it was ssumed that you were just shopping for the best deal. FT, I thought multiple hits in a short period (IE, Less that 7 days) was considered one hit because it was ssumed that you were just shopping for the best deal.

]]> By: FrugalTrader http://www.milliondollarjourney.com/credit-card-arbitrage-with-app-o-rama.htm/comment-page-1#comment-13616 FrugalTrader Wed, 03 Oct 2007 19:07:56 +0000 http://www.milliondollarjourney.com/credit-card-arbitrage-with-app-o-rama.htm#comment-13616 I've read that provided that you keep your credit balance at or below half of your available credit, the credit score shouldn't be affected too much. I think the biggest problem with the app-o-rama method is though the multiple applications within a short period of time. The multiple hits will also bring down the score. I’ve read that provided that you keep your credit balance at or below half of your available credit, the credit score shouldn’t be affected too much. I think the biggest problem with the app-o-rama method is though the multiple applications within a short period of time. The multiple hits will also bring down the score.

]]> By: the Wealthy Canadian http://www.milliondollarjourney.com/credit-card-arbitrage-with-app-o-rama.htm/comment-page-1#comment-13615 the Wealthy Canadian Wed, 03 Oct 2007 18:52:35 +0000 http://www.milliondollarjourney.com/credit-card-arbitrage-with-app-o-rama.htm#comment-13615 The Financial Blogger has a couple good posts on credit score; http://www.thefinancialblogger.com/improve-your-credit-102-how-much-credit-is-optimal/ He says that credit bureaus look at a ratio of what you owe to your total credit. If it's high then you lose points. The Financial Blogger has a couple good posts on credit score; http://www.thefinancialblogger.com/improve-your-credit-102-how-much-credit-is-optimal/

He says that credit bureaus look at a ratio of what you owe to your total credit. If it’s high then you lose points.

]]> By: the Wealthy Canadian http://www.milliondollarjourney.com/credit-card-arbitrage-with-app-o-rama.htm/comment-page-1#comment-13614 the Wealthy Canadian Wed, 03 Oct 2007 18:48:45 +0000 http://www.milliondollarjourney.com/credit-card-arbitrage-with-app-o-rama.htm#comment-13614 Using CC arbitrage or signing up for CC just for the free gifts sounds great, in theory. But I think the downside risks would be too much for regular Joes. $10,000 credit limit maxed out for a 5% return = $500 (not bad). But now there is extra paperwork, taxes, discipline, plus carrying a balance on a maxed out CC would impact your credit rating. I don't know if it's worth it... but definitely worth investigating. Using CC arbitrage or signing up for CC just for the free gifts sounds great, in theory. But I think the downside risks would be too much for regular Joes.

$10,000 credit limit maxed out for a 5% return = $500 (not bad). But now there is extra paperwork, taxes, discipline, plus carrying a balance on a maxed out CC would impact your credit rating.

I don’t know if it’s worth it… but definitely worth investigating.

]]> By: Larry http://www.milliondollarjourney.com/credit-card-arbitrage-with-app-o-rama.htm/comment-page-1#comment-13609 Larry Wed, 03 Oct 2007 16:44:16 +0000 http://www.milliondollarjourney.com/credit-card-arbitrage-with-app-o-rama.htm#comment-13609 Interest in the U.S. is taxed as regular income...so the same amount you pay on your paycheck. Max rate is 35% on the Federal level and up to 10% in some states. You can also deduct the costs of earning this income, so in this case, the interest you pay to the credit cards would reduce your taxable income Still, this sounds like a pretty cool strategy that is fairly foolproof...if you read things carefully and closely abide by all the cards terms. Interest in the U.S. is taxed as regular income…so the same amount you pay on your paycheck. Max rate is 35% on the Federal level and up to 10% in some states. You can also deduct the costs of earning this income, so in this case, the interest you pay to the credit cards would reduce your taxable income

Still, this sounds like a pretty cool strategy that is fairly foolproof…if you read things carefully and closely abide by all the cards terms.

]]> By: FrugalTrader http://www.milliondollarjourney.com/credit-card-arbitrage-with-app-o-rama.htm/comment-page-1#comment-13601 FrugalTrader Wed, 03 Oct 2007 16:03:42 +0000 http://www.milliondollarjourney.com/credit-card-arbitrage-with-app-o-rama.htm#comment-13601 Lewis, wow, i just googled it and came up with their site: https://www.myctfs.com/Products/HighIntSavings/ Apparently, they are offering 5.5% for the first 90 days of opening the account, then reverting back to their 4.0% afterwards. Seems like a pretty decent account. Anyone have any experiences with Canadian tire financial? Lewis, wow, i just googled it and came up with their site:
https://www.myctfs.com/Products/HighIntSavings/

Apparently, they are offering 5.5% for the first 90 days of opening the account, then reverting back to their 4.0% afterwards. Seems like a pretty decent account.

Anyone have any experiences with Canadian tire financial?

]]> By: Lewis Empire http://www.milliondollarjourney.com/credit-card-arbitrage-with-app-o-rama.htm/comment-page-1#comment-13600 Lewis Empire Wed, 03 Oct 2007 15:57:22 +0000 http://www.milliondollarjourney.com/credit-card-arbitrage-with-app-o-rama.htm#comment-13600 I haven't confirmed this but I hear that Canadian Tire is offering a 5.5% interest savings account. I haven’t confirmed this but I hear that Canadian Tire is offering a 5.5% interest savings account.

]]> By: FrugalTrader http://www.milliondollarjourney.com/credit-card-arbitrage-with-app-o-rama.htm/comment-page-1#comment-13585 FrugalTrader Wed, 03 Oct 2007 11:10:30 +0000 http://www.milliondollarjourney.com/credit-card-arbitrage-with-app-o-rama.htm#comment-13585 I guess with different taxation and a larger spread between borrowing and investing in the U.S, CC arbitrage may be more appealing. Can anyone comment on "interest" taxation in the U.S? I guess with different taxation and a larger spread between borrowing and investing in the U.S, CC arbitrage may be more appealing. Can anyone comment on “interest” taxation in the U.S?

]]>