No, burying money gives a 0% return. 1.69% may be less than inflation, but it is still greater than 0.
I’ve finally gotten to a point where I am not completely living paycheck-to-paycheck, and this means I also have no debt on my credit card. I simply just have it scheduled for my Xbox Live subscription to charge every month on it ($14.99 a month, as it is the Game Pass bundle option), and my card is set to auto-pay.… Read more
I have a question unrelated to utilization. Three months ago I paid off my car loan and refinanced my student loans. Altogether, I went from 13 loans to 1. My credit took a huge dip, but the number of loans I have remains unchanged. It seems like I got dinged big time for reducing the number of loans I have, but… Read more
For years, my brother lived by this philosophy (and my parents of the philosophy that debt was just a part of life). When I started getting serious about my student loans, I turned to him and pointed that him paying 3000 dollars a year on credit card interest was pointless and he ought to do something about it, and… Read more
Thank you for this. I have a friend who is in the process of rebuilding his credit, and he always carries a small balance on his credit card every month specifically because of this myth you wrote about. I’ve been telling him that carrying a balance is not a good idea, yet the myth persists. I’m going to share this… Read more
That’s probably a good way to drop your credit score by several points. Probably not worth it.
This particular scam sounds a lot more sophisticated than your average “this is your bank . . .” cold call. If they kow which bank you use, they must have a list of customers which could be anything from professional-level marketing data to people who follow the bank on Facebook.
I like the US Bank Cash Plus. You have to pick your categories quarterly but I always pick 2% for restaurants and 5% for fast food. No annual fee.