Abouttbaarr Expertise Questions related to credit card management
and use of credit to achieve your financial goals
I have found on google that my screename has been linked to some garbage
financial sites, that I have nothing to do with
Please ask me to verify this if you are not sure
and let me know who is making any claims so i can sue their asses off
this is my website or my blog
http://www.geocities.com/tbaarr/night_vision.html
http://www.tbaarr.blogspot.com/
Experience i own over 10 credit cards
8 of these have credit limits over 10k and i use 2 of them to invest with
i have the balance as a fixed life of the loan balance transfer
and make 10 points profit on the money
Organizations none
I retired doing this in 1996
and wish to pass on my experience.
BE aware I got married in 1998 and started Driving Rig in 2004 so that I could get affordable quality Heath insurance for my family as I now have 2 beautiful daughters 4 and 8 as of aug 2007, so I may take longer to answer som questions.
i cover such subjects as,
my approach to credit,
how to establish and maintain multiple accounts,
how i get single digit life of the loan balance transfers,
how i use their money for 45 days interest free,
how i use credit cards to invest for 30% a year profit,
and how i maintain a 650+ credit rating while holding 5 or more accounts.
I challege anyone have me compare any answer, that suze orman gives on her tv show,
to what i would suggest
as i find her answers just plain incompetant,
especially when she states that borrowing money from an ira causes you to pay double taxation.
Thats just plain wrong
I hope that you can answer my question regarding credit cards. Do you know how to determine the balance for a Discover card?
The company uses the two-cycle average daily balance method.
Can you perhaps use an example in your reply for carrying a previous balance and one for not?
I thank you for any helpful reply or information you may send to me.
Answer Its beyond me you need a computer
the best I can say is take your interest rate
divide it by 365 days
multiply by 30 days ie an average month
multiply that number by your payoff principal balance
the result is approx your monthly interest
add that to your payoff principal balance
then add your payoff principal balance again
then divide the result by 2
and thats pretty close to the midpoint average daily balance
it approximates the add on daily interest
or simply add the daily amount of interest to your principal balance
you do that by dividing your interest by 365 and then multiplying the payoff balance by the result
