I don't know about the BOA cards, as I haven't physically received them yet.

thisguy - I've kept the top post updated literally day by day though the process.

One nice surprise is that one of the AMEX biz cards comes with a 0 fee 2.9% intro BT rate for 6 months, so there is a significant reallocation opportunity there.

national is for all the inquiries. you will get a letter in a couple of weeks. when you get that letter, call the # on it. the CSR will ask if you've been applying for a lot of new credit, say yes, and they will still approve you.

clyde_frog said:sethdallob said:I don't know about the BOA cards, as I haven't physically received them yet.

thisguy - I've kept the top post updated literally day by day though the process.

One nice surprise is that one of the AMEX biz cards comes with a 0 fee 2.9% intro BT rate for 6 months, so there is a significant reallocation opportunity there.

do you have a link to what you applied for?

I went through the cardselection.com link for the AMEX SPG Biz card. I got the card for the signup bonuses, but that was a nice surprise!

thisguy said:

You guys are bothering with 2.9? Doesn't leave much after taxes does it? Or am I missing something. I'm not sure I understand what you mean by reallocation opportunity?

2.9 is better than 3% uncapped last time I looked...

I thought I had read a thread that allowed you to deduct the interest on the App-O-Rama as investment expense...in essence my sole proprietorship's business is doing AOR's...my income is interest, my expenses are cc interest...net it out and pay taxes on the difference?

lhendricks92 said:

you'd risk an Am.EX FR for a 2.9% BT rate for 6 months? that certainly doesn't pass my personal cost-benefit analysis.

That's a good point...thanks for the heads-up.

sethdallob said:So I finally have my PLOC almost set up, and my Countrywide savings account is good to go. Is it worth it to do the 3% uncapped BT's?

back of envelope math

borrow $10,000, fee $300.
profit $10 * 5.35% = $535 (Doesn't take into account min payments)
tax man takes? $535 * .28 = $150ish
state tax?

after tax and fee profit $535 - $300 - $150 = $85

Not really, depends on you.

sethdallob said:mhesidence said:sethdallob said:So I finally have my PLOC almost set up, and my Countrywide savings account is good to go. Is it worth it to do the 3% uncapped BT's?

back of envelope math

borrow $10,000, fee $300.
profit $10 * 5.35% = $535 (Doesn't take into account min payments)
tax man takes? $535 * .28 = $150ish
state tax?

after tax and fee profit $535 - $300 - $150 = $85

Not really, depends on you.

Doesn't the tax man only take .28 * $165?

You probably mean $535 interest - $300 fee = $265.

No, tax man takes from your interest profit. I've heard you could deduct the $300 fee as a investment expense, but I haven't tried it.