Originally Posted by
sammyh
Smart man, but you are probably being charged 3% for cash withdrawals,correct? And you have to pay the monthly minimum which the Money Market may be locked, if a CD?
Do you have a list of cards that do/donot show up on Credit Report .....that would be neat! Perhaps a thread
I only opened cards with capped fees. I paid $99 to Chase for $29,000 for 16 months. I paid $75 to BoA for $12000 for 12 months. Advanta charged $50 for $12000 for 12 or 16 months - can't remember off the top of my head. All of my others (Citi) were no fee. Note these are introductory offers where the BT fee is only capped when you open the account, or for the first transfer. Citi was even kind enough to give me 35000 thank you points too. ^
The cash is either deferring interest on my HELOC (around 8%) or at Countrywide in a Savings Link (FDIC insured) account earning 5.3%. I can ACH push it from Countrywide into my regular checking account in 24 hours.
It is also helping to force me to save money. I am making the minimum payments out of my income, so that is the same as putting the same amount into savings. I'm also running a balance on another 0% purchase card, paying the minimum, and moving the balance of my monthly purchase over to Countrywide to earn interest until the 0% offer expires.
I do use a Chase Professional (business) for my day to day spending, because of their good cash back (3% restaurants/office supply/hardware, 1% everything else). This mainly gets used on the 3% stuff or where my Amex Blue Cash can't be used.
Cards I have that don't report on my CR.
Chase Professional MC
Citi Business Platinum w/ TY Network
Citi Premier Pass
Bank Atlantic Business
Fifth Third Business
Fatwallet would be the place to check about cards that don't report.