many times the 50k in assets. but it’s still worth it to me personally to make even a few hundred bucks on this kind of arbitrage. my fico’s still over 700. fees were lowered to
1% on my request. moneys in fdic insured acct. minimal risk. if I see a quarter on the street i pick it up. i got the money for a year. interest rates were higher when i got it. but even at 2.5%, probably an hour’s work, including setting up the automatic payment and calendaring the end date 1.5% of 50k, 750.00? if I saw 750 lying in the street i would definitely pick it up, wouldnt you? that’s how i see this money. it’s just lying in the street. I also keep it in an easily tradeable account where i can trade stock in the evnt of a cataclysmic event. I’m really not upset, it’s just, that was my regular everyday card and i liekd using it. The credit card company evaluated the risk based on one single data point. kinda like letting someone have a house just cause they have a good fico score without asking more…i think the odds of me actually defaulting on that 4k credit card (never ever been bankrupt, etc.) are as low as it gets, actually. if i had a house, i’d default on the mortgage waybefore id default on that credit card. i liekd that credit card. i liekd getting thos ebarnes and noble gift card. i alwaysam in barnes and noble and we read alot…i think i was a good customer! well, whatever, it still has 500 on it, i can still take it on special trips when we go to barnes and noble (you get a 5% rebate on barnes and noble purchases. ) but i cannot buy groceries.
