Author Topic: Overheard at Work: The Anti-Antimustachian Edition  (Read 881569 times)

lifeisshort123

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Re: Overheard at Work: The Anti-Antimustachian Edition
« Reply #1550 on: July 26, 2022, 04:14:57 PM »
I donít believe you can buy the iBonds directly with a credit card, but maybe there is a way.

ixtap

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Re: Overheard at Work: The Anti-Antimustachian Edition
« Reply #1551 on: July 26, 2022, 04:31:16 PM »
At least once a week I get a letter in the mail from Citi inviting me to take advantage of it.  I often get the opportunity to do so with discovery as well.

If I were more entrepreneurial, I would take out say 10k in credit card loans and purchase iBonds with them.  Even with the 3% charge, I would make money guaranteed in the amount of time the loans would be valid for.  However, I am not that entrepreneurial, and prefer to just not have credit card debt.

The problem with that credit card debt is that it has to be repaid regardless of whether the investment keeps up with inflation. I find that when I carry consumer debt, even if I'm in a position to pay it all off instantly, I have a higher level of free-floating stress than I would have otherwise.

We are floating part of our ibonds purchase on a 0% cc (so not even the loan fee) at the moment. I only stress about how much to pay for a few minutes each month.

Can you use a credit card at the Treasury Direct site?

No, we paid for our cruise and some other things with the credit card (as we would have even without the 0% APR) and used our cash to buy Ibonds instead of paying down the card immediately.

Taran Wanderer

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Re: Overheard at Work: The Anti-Antimustachian Edition
« Reply #1552 on: July 26, 2022, 05:11:01 PM »
The problem with that credit card debt is that it has to be repaid regardless of whether the investment keeps up with inflation. I find that when I carry consumer debt, even if I'm in a position to pay it all off instantly, I have a higher level of free-floating stress than I would have otherwise.

I hear that. This month, I have a rewards card with a store than is switching from one back to another. I canít decide if Iíll keep the card, but until I decide, I donít want a balance switching over to the new bank. Meanwhile, the old bank wasnít creating a statement. I finally had to just check the balance and pay the monthly bill to the old bank without the statement. (The official account transition date is 8/5.)

dragoncar

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Re: Overheard at Work: The Anti-Antimustachian Edition
« Reply #1553 on: July 28, 2022, 10:52:56 AM »
I donít believe you can buy the iBonds directly with a credit card, but maybe there is a way.

If you overpay your taxes you can get some refund in i bonds .  You can pay taxes with a CC but there is a fee.