Comments on: Turn 0% on Purchases into 0% on Balance Transfers http://www.bargaineering.com/articles/turn-0-on-purchases-into-0-on-balance-transfers.html personal finance blog with anecdotes, advice and commentary. Mon, 09 Nov 2009 14:45:27 -0500 http://wordpress.org/?v=2.8.5 hourly 1 By: ramesh http://www.bargaineering.com/articles/turn-0-on-purchases-into-0-on-balance-transfers.html/comment-page-1#comment-221050 ramesh Fri, 29 Feb 2008 15:46:59 +0000 http://www.bargaineering.com/articles/turn-0-on-purchases-into-0-on-balance-transfers.html#comment-221050 Be very careful while doing this. I did this with American express using google checkout and American express cancelled all my and my wife's credit cards, all at once. Be very careful while doing this. I did this with American express using google checkout and American express cancelled all my and my wife’s credit cards, all at once.

]]> By: Steve Meyers http://www.bargaineering.com/articles/turn-0-on-purchases-into-0-on-balance-transfers.html/comment-page-1#comment-141780 Steve Meyers Sun, 12 Aug 2007 18:45:02 +0000 http://www.bargaineering.com/articles/turn-0-on-purchases-into-0-on-balance-transfers.html#comment-141780 Why not purchase items with you credit card which you would normally pay cash for. Place the cash, which you haven't spent, into a savings account each time you use your charge card. The deposits will add up and after awhile you will have a chunk of dollars. Why not purchase items with you credit card which you would normally pay cash for. Place the cash, which you haven’t spent, into a savings account each time you use your charge card. The deposits will add up and after awhile you will have a chunk of dollars.

]]> By: samerwriter http://www.bargaineering.com/articles/turn-0-on-purchases-into-0-on-balance-transfers.html/comment-page-1#comment-57640 samerwriter Sun, 14 Jan 2007 03:23:28 +0000 http://www.bargaineering.com/articles/turn-0-on-purchases-into-0-on-balance-transfers.html#comment-57640 Further, I'm sure that just because google is waiving transaction fees doesn't mean they aren't paying them. If you bill yourself $10k, then pay for it with a credit card, google is likely coughing up a couple hundred bucks to the credit card company. I don't mind the credit card company dealing with the 0% loan, since they're offering the deal in the first place. But making another company pay for it doesn't sit right with me. In my opinion, the more ethical way to do this is to just get a 0% card, and use it for your regular card. But rather than paying off the balance each month, just send the money to your high interest checking account instead. If you charge much at all, after a few months you'll effectively have the same result as the balance transfer would have given you. Further, I’m sure that just because google is waiving transaction fees doesn’t mean they aren’t paying them. If you bill yourself $10k, then pay for it with a credit card, google is likely coughing up a couple hundred bucks to the credit card company.

I don’t mind the credit card company dealing with the 0% loan, since they’re offering the deal in the first place. But making another company pay for it doesn’t sit right with me.

In my opinion, the more ethical way to do this is to just get a 0% card, and use it for your regular card. But rather than paying off the balance each month, just send the money to your high interest checking account instead. If you charge much at all, after a few months you’ll effectively have the same result as the balance transfer would have given you.

]]> By: dave http://www.bargaineering.com/articles/turn-0-on-purchases-into-0-on-balance-transfers.html/comment-page-1#comment-57543 dave Sat, 13 Jan 2007 19:06:05 +0000 http://www.bargaineering.com/articles/turn-0-on-purchases-into-0-on-balance-transfers.html#comment-57543 been done and google's been cracking down on it. check out this threat at fatwallet: http://www.fatwallet.com/forums/messageview.php?catid=52&threadid=670544 been done and google’s been cracking down on it. check out this threat at fatwallet: http://www.fatwallet.com/forums/messageview.php?catid=52&threadid=670544

]]> By: jim http://www.bargaineering.com/articles/turn-0-on-purchases-into-0-on-balance-transfers.html/comment-page-1#comment-57485 jim Sat, 13 Jan 2007 12:19:24 +0000 http://www.bargaineering.com/articles/turn-0-on-purchases-into-0-on-balance-transfers.html#comment-57485 I haven't looked into the legality and it seems as thought Google Checkout will prevent it... but the email does say that people were doing multiple transactions. I haven’t looked into the legality and it seems as thought Google Checkout will prevent it… but the email does say that people were doing multiple transactions.

]]> By: traineeinvestor http://www.bargaineering.com/articles/turn-0-on-purchases-into-0-on-balance-transfers.html/comment-page-1#comment-57480 traineeinvestor Sat, 13 Jan 2007 11:45:06 +0000 http://www.bargaineering.com/articles/turn-0-on-purchases-into-0-on-balance-transfers.html#comment-57480 Hmmmm......invoicing yourself for a non-existent transaction to obtain a benefit from a bank that you would not otherwise be entitled to???? Has anyone looked into the legal issues involved? Hmmmm……invoicing yourself for a non-existent transaction to obtain a benefit from a bank that you would not otherwise be entitled to????

Has anyone looked into the legal issues involved?

]]> By: Hal http://www.bargaineering.com/articles/turn-0-on-purchases-into-0-on-balance-transfers.html/comment-page-1#comment-57409 Hal Sat, 13 Jan 2007 02:58:20 +0000 http://www.bargaineering.com/articles/turn-0-on-purchases-into-0-on-balance-transfers.html#comment-57409 Bad news dudes...this has already been done and Google is wise to it. Several people over on FatWallet can testify to this. I tried this in November for this very purpose and this is the nasty-gram I got from Google: Hello XXX, Thank you for using Google Checkout. During a recent review, we've found that several of your Google Checkout orders appear to be between buyers and sellers with similar account information. In accordance with our policies, Google will cancel and refund all future Checkout orders where buyers and sellers are the same individual or party. We appreciate your understanding. For more information, please review our Terms of Service at https://checkout.google.com/termsOfService?type=Seller&tzfp=wg1E0r1g1A4r2g1E0r2g1A4r8. If you have additional questions, please feel free to respond to this message. If you have any questions, please do not hesitate to respond directly to this email. Sincerely, Jessica The Google Checkout Team Bad news dudes…this has already been done and Google is wise to it. Several people over on FatWallet can testify to this. I tried this in November for this very purpose and this is the nasty-gram I got from Google:

Hello XXX,

Thank you for using Google Checkout.

During a recent review, we’ve found that several of your Google Checkout
orders appear to be between buyers and sellers with similar account
information.

In accordance with our policies, Google will cancel and refund all future
Checkout orders where buyers and sellers are the same individual or party.

We appreciate your understanding. For more information, please review our
Terms of Service at
https://checkout.google.com/termsOfService?type=Seller&tzfp=wg1E0r1g1A4r2g1E0r2g1A4r8.
If you have additional questions, please feel free to respond to this
message.

If you have any questions, please do not hesitate to respond directly to
this email.

Sincerely,

Jessica
The Google Checkout Team

]]> By: My Financial Journey http://www.bargaineering.com/articles/turn-0-on-purchases-into-0-on-balance-transfers.html/comment-page-1#comment-57387 My Financial Journey Sat, 13 Jan 2007 01:01:45 +0000 http://www.bargaineering.com/articles/turn-0-on-purchases-into-0-on-balance-transfers.html#comment-57387 Brilliant!! Brilliant!!

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