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chris605
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Member since 5/05 3206 total posts
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Opinions Please
I know everyone has there own opinions - BUT would you take a cash advance on your credit card and balance transfer it for 1% for a year to finish your house or keep it unfinished until you save it which could technically take a few years??
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Posted 11/6/05 12:12 PM  |
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Re: Opinions Please
I don't know- it depends on the amount. And I feel like cc companies are so sketchy with bait and switch type stuff.
I have to say, though, I am not a fan of credit cards, they've caused a lot of stress for me (my own fault) and personally I am determined to never again have cc debt. But everyone's different. And my DH hates debt. What does your DH think?
What about a home improvement loan? Is there such a thing?
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| Posted 11/6/05 2:42 PM |
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chris605
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Member since 5/05 3206 total posts
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Re: Opinions Please
The interest rate for a loan is so much more higher then if we were to balance transfer it - I have mixed feelings - I am tired of working so much and to have one day off a week to have to unpack and work around the house and to still see stuff everywhere and for it not to be finished - I kinda feel like if it as done then the time I am off I can enjoy our house and my DH.... I def. dont want cc debt but in the end the interest rate is better then any loan out there....
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| Posted 11/6/05 2:52 PM |
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Gertyrae
Peace out Homies!
Member since 5/05 20046 total posts
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Gerty ®
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Re: Opinions Please
No, only cuz the balance transfer doesn't last forever and if you don't pay it off in said amount of time you may be stuck with a big CC bill.
If the 0 or 1% was good forever I might think about it.
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| Posted 11/6/05 2:55 PM |
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Re: Opinions Please
Posted by chris605
I am tired of working so much and to have one day off a week to have to unpack and work around the house and to still see stuff everywhere and for it not to be finished -
Believe me, I know how you feel. I'm going through the same thing. There is so much I want to do and the money is just not there. 
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| Posted 11/6/05 3:19 PM |
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chris605
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Member since 5/05 3206 total posts
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Re: Opinions Please
Posted by MrsProfessor
Posted by chris605
I am tired of working so much and to have one day off a week to have to unpack and work around the house and to still see stuff everywhere and for it not to be finished -
Believe me, I know how you feel. I'm going through the same thing. There is so much I want to do and the money is just not there.
Exactly.... I am going to shop around for many 0% for the life of the balance transfer and see.... Maybe just maybe I will.... UUGGHH - Home Ownership really isnt all its cracked up to be....
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| Posted 11/6/05 4:26 PM |
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neenie
Member since 5/05 22351 total posts
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Re: Opinions Please
i dont think i would ever do a cash transfer on my cc unless it was a life or death situation. even witht he 1% offer- i feel like theres tooo much fine print on that stuff, and it will end up haunting you if you cant pay it back right away.
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| Posted 11/6/05 5:11 PM |
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DebG
Pick a cause & stand up for it
Member since 5/05 18602 total posts
Name:
The cure IS worse!
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Re: Opinions Please
Posted by neeniebean86
i dont think i would ever do a cash transfer on my cc unless it was a life or death situation. even witht he 1% offer- i feel like theres tooo much fine print on that stuff, and it will end up haunting you if you cant pay it back right away.
I couldn't agree more. Credit Card companies are the devil and SOMEHOW always manage to get me on some technicality.  I wouldn't do it. We have been in our house for enarly three years and there is a TON we still want to do with it. We just know that its going to take years ( we actually have a 15 year plan) to get everything the way we want it.
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| Posted 11/6/05 5:29 PM |
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luvsun27
Check out my cool glasses
Member since 5/05 8135 total posts
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Kim
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Re: Opinions Please
I know the interest rate on a home equity is higher than than 1% on your credit card...but at least the interest on the home equity is tax deductible on your taxes. I wouldn't use the CC to do home improvements...I would take the home equity and do them if you can't wait.
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| Posted 11/7/05 10:05 AM |
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