Comments on: Best Credit Card for Everything Except Grocery, Gas, and Drugstore Purchases http://thefinancebuff.com/2006/10/best-credit-card-for-everything-except.html like a friend telling you about money ... Thu, 19 Nov 2009 19:44:17 -0600 http://wordpress.org/?v=2.8 hourly 1 By: TFB http://thefinancebuff.com/2006/10/best-credit-card-for-everything-except.html/comment-page-1#comment-3 TFB Thu, 19 Oct 2006 07:48:00 +0000 http://blog.thefinancebuff.com/?p=7#comment-3 I knew about the Fidelity 529 card but I didn't give it the TFB Award because it involves a Fidelity 529 plan, which is not the best 529 plan and not everyone needs a 529 plan. Come to think about it, 10% penalty on the <b>appreciation</b> is not bad at all. Say you earn $200 rebates and the $200 earned $10 interest in a money market fund, the penalty is only $1. Hmm ... setting up a 529 plan for depositing rebates only. Is it worth it? I will have to do some digging. Thanks for the tip! I knew about the Fidelity 529 card but I didn't give it the TFB Award because it involves a Fidelity 529 plan, which is not the best 529 plan and not everyone needs a 529 plan. Come to think about it, 10% penalty on the appreciation is not bad at all. Say you earn $200 rebates and the $200 earned $10 interest in a money market fund, the penalty is only $1. Hmm … setting up a 529 plan for depositing rebates only. Is it worth it? I will have to do some digging. Thanks for the tip!

]]> By: indexfundfan http://thefinancebuff.com/2006/10/best-credit-card-for-everything-except.html/comment-page-1#comment-2 indexfundfan Wed, 18 Oct 2006 18:16:00 +0000 http://blog.thefinancebuff.com/?p=7#comment-2 I use the 529 rewards card with 2% rewards. Anyone can use this card. If you do not really need a college fund, you can periodically "cash out" the 529 plan. The penalty is minimal, which is a 10% tax penalty on the appreciation in whichever fund you selected.<br/><br/>Many think that MBNA's Bill Pay using the credit card will go away on 10/23. We will see.<br/><br/>Good blog by the way. I use the 529 rewards card with 2% rewards. Anyone can use this card. If you do not really need a college fund, you can periodically "cash out" the 529 plan. The penalty is minimal, which is a 10% tax penalty on the appreciation in whichever fund you selected.

Many think that MBNA's Bill Pay using the credit card will go away on 10/23. We will see.

Good blog by the way.

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