Pay off the CC debt just before the no interest promo rate expires, then use the cards sparingly and pay off each month.

 

pay off the CC before the 0% expires

 

also factor in the tax expense on any interest you earn. the 4.5% at ING is effectively 3.0% after federal/state taxes. CC interest can't be deducted from your income either.

 

i would just pay it off right away.

 

credit card debt is the worst possible. Once those interest rates kick in, many cards charge you a pro-rated rate on any debt. That happened on one of my cards....they hit me w/ several hundred dollars all at once.

 

pay the debt before it loses the 0% apr by whatever means necessary. once that card starts gaining interest, i'm sure it will have a higher interest rate than your investment that you're protecting.

 

qft.

 

most credit card companies give you 0% APR on transfer balances.....you could just transfer the owed money to a new credit card earn some more interest on investments then pay off the card?

 

i agree with what others are saying. pay off the cc debt. try looking at USAA for a savings. i opened an account and put all my savings into there. they have a 4% APY. similiar to ING and HSBC, but i like knowing that the HQ is in the US. i'm not too sure about HSBC, but i know ING is an European company.

i feel you about keeping the money. i like knowing that i have cash readily available, even though the money basically belongs to the CC company.

good luck mang :thumbup:

 

i have ING :noes:

i want wamu checking @ 5% but i don't want to open another account