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cleveland124 on 03 December 2007
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twesterm said:
misterd said:
twesterm said:
Get a 360 if you want one but don't get the credit card.

Any reason why not? I've got the money to pay it off in one shot, and then I could cancel it.


  1.  Call me pessimistic, but I always doubt people when they say they're on top of things and will remember to cancel the card once they get what they want.
  2. These things always have fine print.  Make sure there aren't any conditions that must be fulfilled (like keep the card for a certain amount of time).
  3. Opening and closing credit cards like that looks bad on your credit.

If you're really planning on waiting six months, just save the extra $50 you would save.

1.  Nobody is ever 100%, but people on top of their financial game can make a killing with credit cards.  I think I made almost $700 last year with credit card rewards.

2.  Yes, they do have fine print which must be considered.  Typically the fine print for a deal like this would be minimum monthly payments (1.5-2% of total bill a month) and interest that accrues if not paid off in time.  If someone was that worried, they wouldn't have to stretch it out over 6 months and just pay it off the first month then cancel.

 3.  Yes, opening and closing cards has a negative effect on your credit.  But credit fluctuates greatly.  It goes up/down depending on your monthly balances.  Opening/closing a CC wouldn't have an impact greater than 6 mos on your overall credit rating.  So as long as your not about to buy a house I wouldn't worry about it.