MY PERSONAL CREDIT CARDS & BANK ACCOUNTS

Posted on September 24th, 2008 in Top Bank Deals, Top Credit Cards by SuFu

Here is a list of the credit cards and bank accounts that I still actively use for my finances. I have many other cards and accounts, but they mainly serve as secondary purposes. A big part of the reason why I have so many credit cards is because I take part in the App-O-Rama game. If you don’t already know what that is you can just do a google search and you’ll get a ton of information on it. But to give a quick rundown, its basically using 0% Balance Transfer offers in order to put money into an interest earning savings account. Offers are usually up to a year, so within that year you are accumulating interest on that money without dealing with any risk (if you know what you’re doing). After the offer year is up, you just pay off the card balances with the money that you put into your savings accounts. Check out my accounts below:

CREDIT CARD/BANK NAME

ISSUER

USAGE

Platinum BusinessCard with Unlimited Rewards

Advanta

Credit Limit: $12,500 This card was used in my App-O-Rama. $11,500 was transferred to my savings account using the 0% Balance Transfer offer for a full 15 months. I was able to call Advanta to get the balance transfer fee waived. This is my only Advanta card, so I did not need to reallocate credit lines for this balance.

SimplyCash® Business Card from American Express

American Express

Credit Limit: $6,000 I use this card for all my business purchases. You get 5% cash back on gas, office supplies and wireless bills; and 1% on all other purchases. You also get cash back at variable rates on other business purchases (like at Fedex Kinkos, Hertz car rentals, etc). The card also gave me 0% on purchases for a full 12 months so I only paid my minimum balance each month so that I was able to keep more money in my savings account for that full year.

Chase Freedom(SM) Credit Card

Chase

Credit Limit: $3,000 I use this card for all of my personal purchases excluding gas. It gives you 3% cash back on your top 3 category purchases for any given month, and 1% on all other purchases. This card also gives you a bonus $50 cash back after your first purchase with the card.

Chase Flexible Rewards(SM) Platinum Visa®

Chase

Credit Limit: $32,000 This card was used in my App-O-Rama $30,000 was transferred to my savings account using the 0% Balance Transfer offer for a full 12 months. I did have to pay a $75 balance transfer fee, but this was worth it to put the $30,000 in the interest earning savings account. The credit lines from my other Chase cards were reallocated into this card for such a high credit limit.

Discover® Open Road(SM) Card

Discover

Credit Limit: $3,000. I only use this card for purchasing gas as it gives a full 5% cash back on gas wherever Discover I accepted, and I haven’t had an occurrence where it wasn’t accepted.

BOA Financial Rewards® Platinum Plus®

Bank of America

Credit Limit: $31,200 This card was used in my App-O-Rama $30,000 was transferred to my savings account using the 0% Balance Transfer offer for 6 months. I picked a 6 month offer because this offer did not have a balance transfer fee.

Discover Business Card


Discover

 Credit Limit: $18,800 This card was used in my App-O-Rama $18,000 was transferred to my savings account using the 0% Balance Transfer offer for 12 months. I did have to pay a $50 balance transfer fee on this offer though.

Washing Mutual Online Savings Account


*Unfortunately, this

deal can no longer

be had due to Wamu’s downfall

Washington Mutual

Balance for App-O-Rama: $89,500 from Balance Transfers + personal balance from savings = $114,000. Interest rates for this online savings account have fluctuated from 3.3% up to the current 4.0%. As of this writing on this 24th day of September, 2008 I have accumulated $1,524 in interest paid this year.

*Note* Deals/Offers on credit cards are always changing routinely, so keep up to date with the best 0% Balance Transfer offers through my site.

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