The risk is if (well...when) interest rates go down, Eloan isn't going to be 5.5apy. Of course, if interest rates go up then the savings is going to be higher than 5.5 and you're going to be stuck at a CD rate. Risk is both ways.

shao said:Hi, I'm new to the finance forums, and have been reading faqs, etc. I have a question that I don't know is stupid or not, nor if it's been asked. anyway, here goes:

I've been reading about that new ELoans savings account with 5.5% APY, and then other finance threads with CDs, mutual funds, and even entire stock portfolios that have less than 5.5% interest, usually around 2-4%...SO, what's better about putting long term money into those others when you can just put it into the 5.5% Eloans savings account without the risk?

Please don't bite my head off. Half the terms used in these finance threads I've never even heard of, and am wading my way through help guides to figure them out. I'm trying to learn what to do with my humble savings besides stuffing it under my mattress and watching it slip through my fingers for little expenses here and there.

Thanks so much.

Okay, savings accounts generally follow a variable interest rate from powers that be, CDs are a set interest rate, and stocks/mutual funds can be unpredicatbly better or worse. I'm 29, and since that's too young to be putting my money into savings account, mutual funds are the way to go. Got it. That eliminates about a third of my research pile. Thanks.

Anin said:I'm moving to a new place and refurnishing my home. Therefore I'm buying a lot of furnitures from different stores.

Is it better to pay for them by cash or open a store credit which has 0% for a year or 2 or 10% off the purchase and pay it on time.

Will opening more store credit cards in a short time affect my FICO score ?


Opening the cards will affect your score: also having the debt on the card will lower your score, until the cards are paid off.

To decide whether or not to put the purchase on the card, you must know whether or not you can pay off the card before the 0% period is over. After the 0% time is over, the card probably has a high interest rate.

Are there any potential negative consequences for applying for business credit with no business (audit, offending issuers, etc)? I understand issuers will let you use your SSN for Tax ID.

This is in context mostly of acquiring lucrative signup bonuses from Citi, etc. and possibly doing AOR-type things on said accounts.

I just started working this year. So what kind of documents should I be saving when it is time to file taxes?
Ive been saving pay stubs, some receipts for books contact lens, but what else can be tax deductible??

Corganiacs said:I just started working this year. So what kind of documents should I be saving when it is time to file taxes?
Ive been saving pay stubs, some receipts for books contact lens, but what else can be tax deductible??

there is a tax thread...but if you dont have a mortgage, you probably wont be itemizing and rather will take the standard deduction...some things you can still deduct like moving expenses and maybe student loan interest....you get a w-2 at the end of the year so the pay stubs dont really matter...

soundtechie said:Corganiacs said:I just started working this year. So what kind of documents should I be saving when it is time to file taxes?
Ive been saving pay stubs, some receipts for books contact lens, but what else can be tax deductible??


Hi corg. If you have a haouse, you'll need to save your real estate taxes and interest paid. If your job involves you spending money out of pocket, save that. student loans, w-2's, 1099 int statements should all be kept.thanks guys (maddy+techie). Yes. I have student loans-trying to pay them off as I go. I will read the tax thread. even went to the govt thread but my brain just does not compute! I also looked at the IRA thread and I dont think I have a 401K. heh.

To the people who say this thread will never work:

Maybe you are right and maybe you aren't. But PLEASE STOP FLOODING THIS THREAD with meta-conversation about how bad this thread is. It makes it hard to find people's questions with constant peppering of how bad this thread is.

I think this thread is already a success. If every question answered already saved a redudant thread then it has already done its job many times over.

The fact that is currently rated +27 makes me think others like it to.

Also this is not the thread to discuss why you do/don't like to mod threads/posts red/green. While that is certainly an interesting topic please focus on asking/answering questions.

Thanks everyone who contributed already.

psychtobe said:
Question: of the following Citi Cards, which DO report actual credit line? Is the answer as simple as looking at my credit report, and if no "credit line" is listed then there is no line reported?

As far as I know only the Premiere Pass and Premiere Pass Elite do not report lines for Citi. Anything that has the word "Signature" probably wouldn't report either.

And prior to an AOR, is the goal to simply reallocate as much CL as possible to a single Citi card that does report actual credit line? I reallocated all my CL to Premier Pass, which appears to have been a waste of time.

No, putting all of your credit line into a non-reporting line will HURT your credit score and make your report looks worse because that credit line will essentially disappear which will hurt your utilization and hurt that issuers will not see that you have been trusted with larger credit lines. Not only is it a waste of time, it is harmful and you shouldn't do this.

I changed jobs and want to transfer my 401k from its present custodian to another firm because there are limited investment choices.

Do guys know of any firm that are giving away any freebies for transferring a 401k (401k --> Traditional IRA)?

TIA