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July 12, 2006


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You missed an important point. If you pay 25% on your credit card (this strikes me as too high, but what the heck), and have $1,000 in cash sitting around. You would have to earn 33% on that money to pay the interest on the credit card balance and thus come out ahead relative to paying it off. Interest income is taxable, while the interest you pay to credit card companies (I think) is not tax deductible. So it's actually like earning 33%! I assume a 25% tax rate.

Ignore this post, I am just including the right email for the above. Sorry.

Great post. I dont even want to consider buying a new car unless they offer me 0% financing. All my credit cards are in their 0% apr intro stage still. I plan on making use of that.

clarify it.please

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