That's only $25 a year, again with hoops.
If you have almost no money and/or lots of free time these hoop-deals might be attractive, but this is ATOT where it's not worth getting out of bed for less than a six-figure salary
Best I know of is Netspend. It gives 5% upto $5000 but you won't find it difficult to open at least 2 accounts if you have a friend. Make sure you set up automated transfers to pull the interest out and put money in (to avoid fees).
See this post for instructions:
https://www.fatwallet.com/forums/finance/1432026/
that's only $25 a year, again with hoops.
If you have almost no money and/or lots of free time these hoop-deals might be attractive, but this is atot where it's not worth getting out of bed for less than a six-figure salary
0.05*$5000=$250
Funny how in your post you claim a ridiculous return in a 1-yr window.
Do you also realize that you lose value when selling at spot price? Gold is not the place to put cash for your emergency fund.
Credit line + some kind of locked investment maybe. If emergency comes up put it on credit (that's what it's for) and if you can't pay it off in a timely fashion you can always wait till you can unlock the investment. Maybe GICs or something.
Most common emergency situation is losing your job. Living on credit for multiple months with no income is a great way to fuck yourself financially. At best you're throwing a fair amount of money down the drain in interest. Likely whatever interest you would make having that money sitting in a locked higher rate account will be nullified by the interest you would have to pay by carrying the same amount on a credit card.
There's only one good use for credit cards, IMO, and that's to build credit for larger home and vehicle purchases.
Try showing us the math and seeing the full options (such as opening a loan not using credit cards with your investment as collateral) before claiming things like that (heck even just try the math and then don't show us here once you realize that you are not correct).Most common emergency situation is losing your job. Living on credit for multiple months with no income is a great way to fuck yourself financially. At best you're throwing a fair amount of money down the drain in interest. Likely whatever interest you would make having that money sitting in a locked higher rate account will be nullified by the interest you would have to pay by carrying the same amount on a credit card.
Can you explain? They appear to me a convenient way to pay for most everything, including monthly recurring bills, Paypal, Amazon, stores... I use a CC instead of cash or a check whenever I can.There's only one good use for credit cards, IMO, and that's to build credit for larger home and vehicle purchases.
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There's only one good use for credit cards, IMO, and that's to build credit for larger home and vehicle purchases.
Same.<<<---- is earning a few hundreds dollars per MONTH from cash back.
I put an smiley emoticon next to it, indicating I was merely poking fun at the high return this year. It seems like you are getting really emotional about this topic. You might want to consider some ways to relieve stress in your life.
Ally's savings account is sitting at 1.00% and their money market is 0.85%.
That's where my E.F. is.
Same.
Life is much simpler when everything is charged to a credit card AND you get a couple thousand bucks back a year AND it is fraud protected.
Can you explain? They appear to me a convenient way to pay for most everything, including monthly recurring bills, Paypal, Amazon, stores... I use a CC instead of cash or a check whenever I can.
The problem is if it will be sustainable or not. We are entirely dependent upon others being retarded and paying the ridiculous 18 - 25% APR Interest rate month to month.
Since churning has turned into a hobby that is growing with lots of people joining in, I don't foresee this lasting very long.
CC's can be use to earn cold hard cash back or miles or points or other benefits.... "IF" you can handle them properly, ie, no carry over balance and pay on time, each and every time.
<<<---- is earning a few hundreds dollars per MONTH from cash back.
I also use my credit card, almost exclusively, responsibly.
However, I wouldn't call it "earning." The retailers more than likely jack up their prices corresponding to the charges payment processors charge. So, it's more like you get a partial refund -- better than getting no refund.
The problem is if it will be sustainable or not. We are entirely dependent upon others being retarded and paying the ridiculous 18 - 25% APR Interest rate month to month.
Since churning has turned into a hobby that is growing with lots of people joining in, I don't foresee this lasting very long.
Most common emergency situation is losing your job. Living on credit for multiple months with no income is a great way to fuck yourself financially. At best you're throwing a fair amount of money down the drain in interest. Likely whatever interest you would make having that money sitting in a locked higher rate account will be nullified by the interest you would have to pay by carrying the same amount on a credit card.
There's only one good use for credit cards, IMO, and that's to build credit for larger home and vehicle purchases.