6 months same as cash...citibank

[mickeysfriend]

anyone have any luck with this after Chapter 7?

[AngelinaCatHub]

anyone have any luck with this after Chapter 7?

Mickeysfriend: My friend, you are going to set yourself up for failure. Why not try cash or you don't need it. I would not go through what we did for the sake of credit scores, ever again. I care less of my credit score as I do not plan on using credit again. MY bk is going to work. 'Hub and Mrs.

[Never_Again]

I would agree... Any of these six months same as cash deals are an invitation for trouble. The only possible exception would be if you have the money in cash, and put it aside in a savings account and leave it there for later. But that is still a stupid idea!

Let's say you are buying $3000 in furniture on a six months same as cash deal. You have the money to pay cash, but want to "earn the interest" on it for the six months. You park it in an ING savings account, and say you earn 1.5% APR. You have earned roughly $45 for your six months! Wow!

Yes, a series of small $45 steps will make you a pile of money over time. However, this one puts too much at risk. Pay it off 1 day after 6 months, and you will pay probably 18% finance charges from day one ($270).

If you want to talk some real money, the furniture dealer probably pays close to 4% for the six months same as cash deal. On a $3000 purchase, the dealer receives $2880 (some discounts are even higher, but this is a good average.) Go in to the store, and prepare to do the six months same as cash, and then, before you get to the paperwork to apply, offer him $2880 for the furniture if you pay cash. No debit card, no credit card, but lay out the green cash. Chances are, they will take it.

Now you have made a quick $120 within less than an hour. That is an over 35,000% APR! And there is no risk.

The same as cash and put the balance in a savings account is just an excuse for buying something, not much better than saying "I will pay it off in six months by making payments." People talk about interest savings, but people do not build real wealth by doing this.

[Logan]

anyone have any luck with this after Chapter 7?

I've been pretty aggressive with opening up new credit lines and I find that I'm only turned down by lenders who will not lend to someone who had a BK. AMEX, GE etc.

That being said, None of my credit cards have given me any offers such as 0% or any good balance transfer offers.

I did get a 0% offer on a Jared Jewelers card but that was to buy jewelry through their store.

DON'T BORROW ANY MORE MONEY except for a house, a car or for school!!!

Logan