Comments on: Zero Interest Loan http://www.joetaxpayer.com/zero-interest-loan/ Financial Commentary For The Average Joe Mon, 06 Feb 2012 21:56:17 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: JAL http://www.joetaxpayer.com/zero-interest-loan/comment-page-1/#comment-11 JAL Mon, 24 Sep 2007 03:19:33 +0000 http://www.blog.joetaxpayer.com/?p=42#comment-11 Thanks Joe... I enjoyed your follow up post. Best regards, JAL Thanks Joe… I enjoyed your follow up post.

Best regards,

JAL

]]> By: JOE http://www.joetaxpayer.com/zero-interest-loan/comment-page-1/#comment-10 JOE Fri, 21 Sep 2007 14:41:14 +0000 http://www.blog.joetaxpayer.com/?p=42#comment-10 <p>Your comments are much appreciated! Today's post is in reply. As I said in the blog's first post, and introduction, this is me, thinking out loud. Discussing topics not appropriate for a monthly article on the main site. For the disciplined person, this idea can make some extra money if done just twice or three times per year. Thanks for visiting!<br /> JOE</p> Your comments are much appreciated! Today’s post is in reply. As I said in the blog’s first post, and introduction, this is me, thinking out loud. Discussing topics not appropriate for a monthly article on the main site. For the disciplined person, this idea can make some extra money if done just twice or three times per year. Thanks for visiting!
JOE

]]> By: JAL http://www.joetaxpayer.com/zero-interest-loan/comment-page-1/#comment-8 JAL Thu, 20 Sep 2007 13:52:05 +0000 http://www.blog.joetaxpayer.com/?p=42#comment-8 Joe, Besides possibly affecting your credit score (by having too much available credit), presumably you'll want to cancel the account(s) at some point... right? I've read cancelling too many accounts in too short a time period also negatively impacts your credit score. Then there's the impact on your score from new repeated credit inquiries, etc. Now assuming all that doesn't scare one away from accepting free money, what about the tax impact on the earnings you'll receiev? Once you subtract the income tax, the $50 transfer fee, and the temporary possible credit score damage, do you think it's still worth it? I ask because I always shred these offers with nary a second thought... but now you have me thinking. :) Love your blog and web site BTW! JAL Joe,

Besides possibly affecting your credit score (by having too much available credit), presumably you’ll want to cancel the account(s) at some point… right?

I’ve read cancelling too many accounts in too short a time period also negatively impacts your credit score.

Then there’s the impact on your score from new repeated credit inquiries, etc.

Now assuming all that doesn’t scare one away from accepting free money, what about the tax impact on the earnings you’ll receiev? Once you subtract the income tax, the $50 transfer fee, and the temporary possible credit score damage, do you think it’s still worth it?

I ask because I always shred these offers with nary a second thought… but now you have me thinking. :)

Love your blog and web site BTW!

JAL

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