tag:blogger.com,1999:blog-33624471.post-66999009226151306992008-04-15T06:02:00.000-04:002008-04-15T06:02:00.000-04:00Way to go kid! Credit used wisely is not a bad thing but most of aren't wise in using it. Ironically, in our case, we have found that sometimes credit cards give you the best rate. In 2007 we averaged just over 4% interest including balance transfer fees and interestingly enough we now have most of our credit card interest fixed for the life of the loan (unless our credit rating drops or we miss payments). Sometime ago I was solicited by a credit "counseling service" who suggested I stop making payment on the credit cards and then they would be able to negotiate sith card companies and settle for about 50%.<BR/><BR/>If I were to max out the limits on our existing cards, I could borrow about $250,000. And of course, maybe get additional from all the new offers that come in constantly. If the credit card "counseling service" can settle for 50%, that should leave me setting in a pretty good situation. Of course, my credit would be ruined, but so what?<BR/><BR/>Is there anything wrong with this picture?Anonymousnoreply@blogger.com