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what happens if you dont pay your credit cards
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[QUOTE]Originally posted by 94gt: [QB] [QUOTE]Originally posted by DLo: [qb] [QUOTE]Originally posted by 94gt: Just get a card that has a 0% APR/EPR for a year, transfer the balance to it and pay it down. It works pretty good. [/qb][/QUOTE][qb]Just out of curiosity, not that I would do this since my credit is on good standing right now, but let's say that you do this. Can't you keep signing up with new cards and continue transferring your balance without making any payments for a while? [/qb][/QUOTE]very few cards offer this option to make no payments... usually it goes like this... Say you have a 8k balance @ 12%apr.. Say you pay $200 a month and the interest payment will be about $198 a month... you make a $2.00 payment on principal!!! horrible! :( The credit card companies that want your business will offer you 0%APR/EPR for 6/12/24months in mailers... Transfer 8k to them and your $200 payment goes straight to the principal!! When the year runs out, transfer the balance to another card/bank offering the 0% and close out the account. :D Credit companies try to f*ck you, so it's only fair to do a little f*cking back :) [/QB][/QUOTE]
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