Comments on: 0% APR, Same As Cash, and No Interest No Payments http://thefinancebuff.com/2009/01/0-percent-apr-same-as-cash-and-no-interest-no-payments.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: James http://thefinancebuff.com/2009/01/0-percent-apr-same-as-cash-and-no-interest-no-payments.html/comment-page-1#comment-2739 James Sat, 26 Sep 2009 18:07:58 +0000 http://thefinancebuff.com/2008/12/0-apr-same-as-cash-and-no-interest-no-payments.html#comment-2739 Thanks. This has been helpful. I am currently looking for a way to purchase an engagement ring without making ridiculous payments and/or getting charged interest. Because of school limiting the amount of time I can work it would be extremely beneficial to wait until next summer to pay the ring off. Now I understand what I'm looking for in a credit card. Thanks. This has been helpful.

I am currently looking for a way to purchase an engagement ring without making ridiculous payments and/or getting charged interest. Because of school limiting the amount of time I can work it would be extremely beneficial to wait until next summer to pay the ring off. Now I understand what I'm looking for in a credit card.

]]> By: Ted http://thefinancebuff.com/2009/01/0-percent-apr-same-as-cash-and-no-interest-no-payments.html/comment-page-1#comment-1398 Ted Tue, 27 Jan 2009 18:11:28 +0000 http://thefinancebuff.com/2008/12/0-apr-same-as-cash-and-no-interest-no-payments.html#comment-1398 Got the $50 rebate check this week! Got the $50 rebate check this week!

]]> By: philip http://thefinancebuff.com/2009/01/0-percent-apr-same-as-cash-and-no-interest-no-payments.html/comment-page-1#comment-1327 philip Tue, 13 Jan 2009 20:17:05 +0000 http://thefinancebuff.com/2008/12/0-apr-same-as-cash-and-no-interest-no-payments.html#comment-1327 Thanks, good to know. Thanks, good to know.

]]> By: TFB http://thefinancebuff.com/2009/01/0-percent-apr-same-as-cash-and-no-interest-no-payments.html/comment-page-1#comment-1326 TFB Tue, 13 Jan 2009 20:03:50 +0000 http://thefinancebuff.com/2008/12/0-apr-same-as-cash-and-no-interest-no-payments.html#comment-1326 Philip - Credit card rebates, whether paid by check, as a credit on the statement, or in the form of gift cards or merchandise, are not taxable. Interests earned from money sitting in a savings account are taxable. Philip – Credit card rebates, whether paid by check, as a credit on the statement, or in the form of gift cards or merchandise, are not taxable. Interests earned from money sitting in a savings account are taxable.

]]> By: Philip http://thefinancebuff.com/2009/01/0-percent-apr-same-as-cash-and-no-interest-no-payments.html/comment-page-1#comment-1325 Philip Tue, 13 Jan 2009 19:51:17 +0000 http://thefinancebuff.com/2008/12/0-apr-same-as-cash-and-no-interest-no-payments.html#comment-1325 I have a "same as cash" deal on some automotive work that I got done. I could have paid it in full but they offered that and so I have it paying the minimum with 3 warning reminders for when this is coming up due so as not to miss it. One thing of note that I saw on the statement was that it showed the accrued interest if I do not pay it on time. I think having that sit there looming will grate on my nerves but at least I know how much is there. Question: With credit cards that you get cash back I recieve the $250 from them as a check, I assume that I will have to pay taxes on that, are you saying that if they just applied that as a credit on my next statement that it would not be taxable? Is there an advantage to the credit card company giving it as a check instead of credit on my card? What about getting gift cards and other such items with it instead of the cash, are you supposed to claim that value as taxable income? I have a "same as cash" deal on some automotive work that I got done. I could have paid it in full but they offered that and so I have it paying the minimum with 3 warning reminders for when this is coming up due so as not to miss it. One thing of note that I saw on the statement was that it showed the accrued interest if I do not pay it on time. I think having that sit there looming will grate on my nerves but at least I know how much is there.

Question: With credit cards that you get cash back I recieve the $250 from them as a check, I assume that I will have to pay taxes on that, are you saying that if they just applied that as a credit on my next statement that it would not be taxable? Is there an advantage to the credit card company giving it as a check instead of credit on my card? What about getting gift cards and other such items with it instead of the cash, are you supposed to claim that value as taxable income?

]]> By: TFB http://thefinancebuff.com/2009/01/0-percent-apr-same-as-cash-and-no-interest-no-payments.html/comment-page-1#comment-1319 TFB Tue, 13 Jan 2009 02:03:58 +0000 http://thefinancebuff.com/2008/12/0-apr-same-as-cash-and-no-interest-no-payments.html#comment-1319 Ted - You asked "I wonder if this offer has anything to do with their liquidity and the credit crisis?" They offered you $50 to close it out because they wanted to reduce their credit risk exposure. If the economy deteriorates and you are not able to repay them the money when it's due, they will be in trouble. So they'd rather pay you $50 and get the money into their coffer now. Ted – You asked "I wonder if this offer has anything to do with their liquidity and the credit crisis?" They offered you $50 to close it out because they wanted to reduce their credit risk exposure. If the economy deteriorates and you are not able to repay them the money when it's due, they will be in trouble. So they'd rather pay you $50 and get the money into their coffer now.

]]> By: Ted http://thefinancebuff.com/2009/01/0-percent-apr-same-as-cash-and-no-interest-no-payments.html/comment-page-1#comment-1318 Ted Mon, 12 Jan 2009 19:30:27 +0000 http://thefinancebuff.com/2008/12/0-apr-same-as-cash-and-no-interest-no-payments.html#comment-1318 By the way, if anyone is wondering, it was HHGregg. I replaced the 10 year old slowing breaking appliances in my home last April. They sent an email last month offering $50 for paying the balance in full instead of going until then end of the promotional period (April 2010). By the way, if anyone is wondering, it was HHGregg. I replaced the 10 year old slowing breaking appliances in my home last April. They sent an email last month offering $50 for paying the balance in full instead of going until then end of the promotional period (April 2010).

]]> By: Ted http://thefinancebuff.com/2009/01/0-percent-apr-same-as-cash-and-no-interest-no-payments.html/comment-page-1#comment-1317 Ted Mon, 12 Jan 2009 19:20:19 +0000 http://thefinancebuff.com/2008/12/0-apr-same-as-cash-and-no-interest-no-payments.html#comment-1317 tfb, I did not know the difference between 0% APR offers and the "same as cash" offers. I assumed they were all the same. So this post was informative. By the way, thanks help with the problem (it was my issue). I paid it off and recently confirmed I qualified for the $50 cash bonus (not credit). I just have to wait 6-8 weeks and I will let you know if they actually send the check. I wonder if this offer has anything to do with their liquidity and the credit crisis? tfb, I did not know the difference between 0% APR offers and the "same as cash" offers. I assumed they were all the same. So this post was informative.

By the way, thanks help with the problem (it was my issue). I paid it off and recently confirmed I qualified for the $50 cash bonus (not credit). I just have to wait 6-8 weeks and I will let you know if they actually send the check.

I wonder if this offer has anything to do with their liquidity and the credit crisis?

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