Discover 0% for Life

May 30th, 2005

It seems the biggest rage in the credit card industry for a while has been the 0% balance transfer deals. The theory behind the deal is rather simple; you take a new or empty card and transfer a large amount via direct deposit or convenience check into your bank savings account. You make the minimum payments until the deal expires and then payback the transferred amount while enjoying 6 months or a year of free interest on the credit card company’s dime. Some possible downsides to this type of deal need researched before trying it. Check Fatwallet’s Finance forums for some stories about this.

I finally took the bait and did this type of deal with a discover card, but for different reasons. Over the past few years, I had racked up a bit of credit card debt (I know the lectures, but as they say you always ignore your own best advice) and realized I was not making much progress on getting rid of it. The math of course is not hard, paying 0% interest is a heck of a lot better than say 20%. The downsides were the balance transfer fee ($50) and starting in September I will have to make a few purchases every month to keep the rate. Nevertheless, I figure I will be better off than otherwise.
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How old am I?

May 29th, 2005

I really like taking silly quizzes like this one. I’m not sure I always act like a 26 year old as suggested by the quiz…I keep trying to go back and make up for missed stuff when I was younger but that’s a story for another day.


You Are 26 Years Old


26


Under 12: You are a kid at heart. You still have an optimistic life view - and you look at the world with awe.

13-19: You are a teenager at heart. You question authority and are still trying to find your place in this world.

20-29: You are a twentysomething at heart. You feel excited about what's to come... love, work, and new experiences.

30-39: You are a thirtysomething at heart. You've had a taste of success and true love, but you want more!

40+: You are a mature adult. You've been through most of the ups and downs of life already. Now you get to sit back and relax.

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Hello world!

May 29th, 2005

Welcome to CK Blog.
I’m trying this out. Hopefully it won’t cause a problem with the server or such. The purpose of this whole blog is to discuss mainly personal finance and stuff. In the meantime, check out the ICS.

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