Today we received our new Bank of America card. I wasn't sure if we had been approved, but it turns out we received another 5K in credit. This account has a great promotional balance transfer offer - 0% for 12 months with BT fee capped at $30. Within 15 minutes we had activated the card and brought over $62,000 in credit from another card, and began the process of transfering $60,000 into our checking account. It couldn't have been easier.
To date, we have taken advantage of $162,000 in 0% BT offers, with one more possibly on the way for $30K. Almost $200,000 earning 5% interest is over $800 a month. I may not earn $800 every month because of balances shifting around and having to pay the minimums on each credit card, but my plan is to put a third of this money to paying down debt, a third to saving for the summer, and a third to our Roths.
My employer's W2 came today as well. I'll get my wife's this week directly from her work, and I can get this return done. Refund by mid-March would be great!
And I decided to go with Countrywide. The accounts already being linked was a huge plus for me...
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