Fixed credit card interest rate put the money into a CD? - credit card interest calculator
I credit my credit card with no balance. Recently I received an offer for a lower fixed rate at 2.99% (for the duration of the balance). Normally, I throw them. But today I've been thinking ... Can the credit line amounting to $ 25,000 transferred into my bank account (for a time for $ 75 one), then you buy a 5-year CD at 5.12 APY. If I have to calculate with the calculator Bank rate, I see that in 5 years, who had taken the lead against $ 5000 if I save the equivalent amount of the monthly payments. I can afford the monthly minimum wage. Payments (and rare). Is that too crazy? I know I am a serious commitment like CDs are often an early retirement penalty and also that the company will change the CC APY if you see something wrong (ie, the late payment of 5 minutes have!)
Saturday, January 23, 2010
Credit Card Interest Calculator Fixed Credit Card Interest Rate Put The Money Into A CD?
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The tempting, but risky. 25K is a lot of money, and if a problem arises in that couldnt pay the bill had to be in trouble quickly with a much higher and interest payments.
ReplyDeleteIf you have no debts, I would start small, perhaps on a CD 1-year 2-year CD, etc. (for adults and that the money) are available at different times.