Comments on: The Pitfalls Of 0% Offers

By: Jonathan

Jonathan — Wed, 21 Dec 2005 20:04:42 +0000

Good advice in general, never borrow to buy something you don’t need in the first place.

Ray, after just $7,500 in loans? I have State Farm and they never blinked an eye, and I’ve had lots more than $7,500. I’d re-shop around for car insurance, I bet you could get a better deal.

By: ray mylar

ray mylar — Wed, 21 Dec 2005 07:41:48 +0000

Addition to previous response. I did not ask for a Visa/MC from any of the zero % lenders, but received one from each!!

By: ray mylar

ray mylar — Wed, 21 Dec 2005 07:33:26 +0000

Your forgetting something! My FICO was 805. After 3 zero interest loans ( average $2,500 ), I was turned down for the best car ins. rate because I had too much “new” credit!! I have NO debts. No morgage. No car payments etc. These loans were all done within 12 mos.due to a chance in circumstances. I could have paid cash, but left the funds in Emigrant Direct @ 4%. Be careful!!

By: Neo

Neo — Tue, 20 Dec 2005 20:42:57 +0000

When I finally started getting smart with my money, I wanted to get my two credits paid off. So I was able to get approved for one of these 0% offers. The key as you stated was making sure not to mess up otherwise all that work would be for nothing.

Speaking of 0% offers, I have posted the next Poll of the Week “How many 0% balance transfers have you done?”. If you have played the 0% balance transfer game, please complete the poll located the following URL:

http://neos-nest-egg.blogspot.com/2005/12/poll-of-week-how-many-0-balance.html

Neo

By: Seattle

Seattle — Mon, 19 Dec 2005 21:05:06 +0000

I have successfully used 0% financing in the past, always closing the credit account when I have paid off the amount. These are great tips. Thanks for sharing!