Tuesday, March 28, 2006

My Mailbox Is Full

Do these guys ever stop?

I'm not kidding. Over the last few weeks, my mailbox has been crammed full of credit-card offers. Pretty much on a daily basis, too.

Cripes. All these zero-percent offers! It's enough to make a guy want to play the credit-card arbitrage game even harder than I already am . . .

. . . so I will. Easy money is still money.


— Posted by Michael @ 8:49 PM


if you ever REALLY get tired of the offers, you can always opt out at 1-866-5-OPT-OUT

might be 888, it's been so long since I've called them. you can opt out for a few years or for life. you can also change your mind and opt back in at anytime.


Do not be happy with flooded offers please and think about the hidden cost once you pick up a card.Compare the statements of different credit cards bills.


How much interest do you make off doing this? Is this worth it?



As an example, suppose my I borrowed $13,500 at 0% for 11 months. I shovel that money into an online account that earns 4.5%.

After accounting for the ~$90 transfer fee associated with the transaction, and a fed/state rate of ~21%, I'm left with a profit of ~$350.

For me, so long as I mind the details and minutiae that always go along with these offers, it's worth it.


Wow, that sure takes discipline! But hey, $350 is $350.

I enjoy reading your articles and posts.


I Called The Opt-Out #.It Is 1-888-5-OPT-OUT It Was Fairly Simple But Voice Active So Speak Slow And Clear.It Also Said It May Take A Couple Of Months B-4You Actually Stop Receiveing Offers. Hope It Works. Thanks For The Info.

Anonymous Anonymous
, at 12:27 PM, March 31, 2006  

Every financial institution has to send a privacy policy every year according to the current laws. This will and should also include how to opt out of such 'sharing of information' options. It may be a toll free number or mail-in form. I have religiously been using these and I have been successful 100%. Yes, thats correct 100% in not gettin any more of this offer mails.

Anonymous Anonymous
, at 10:06 PM, April 11, 2006  

Downside is it has a negative effect on your credit rating.... I didn't know this when I got into them. Am planning to pay off my zero percent loans in the next couple of months.


I have heard enough about 0% loans.Can any organisation sustain if there is not generating income?More over is establishment and other overhead costs are there.In fact this 0% loan is an advertisement gimmic.Look to your statement of account you will know what other charges are debited.I believe,this financial institutions have become charitable organisations which is not a fact.There must be other way round to collect their charges.


Here we hear about O% finance on vehicles and so on.But what about the EMI that absolves the cost.

** Comments Closed on this Post **

Thoughts on my personal finances, goals, experiences, motivations, and accomplishments (or lack thereof).

My financial life began turning around when I took responsibility for it.
— Dave Ramsey


Start (2005-12): ~$21,900
Currently: $0
[About Our Debt Paydown]


Savings Goal: $15,000
Currently: ~$15,115
[About Our Liquid Savings Goal]