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matrix5k said:   I just applied for the Amex Everyday card which has 0% APR on purchases for 15 months. My CL is $8900. If I charged the full $8900 right away would I be in any trouble? I am making a tuition payment.
  
Can you pay the $8,900 off on the first bill its due?

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spydermonkey said:   
matrix5k said:   I just applied for the Amex Everyday card which has 0% APR on purchases for 15 months. My CL is $8900. If I charged the full $8900 right away would I be in any trouble? I am making a tuition payment.
  
Can you pay the $8,900 off on the first bill its due?

  Yes in 15 months I will have a year's worth of savings and pay it off before the 0% APR ends. I wasn't sure if it would make Amex angry or hurt my credit score if I used 100% of my CL.

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matrix5k said:   
spydermonkey said:   
matrix5k said:   I just applied for the Amex Everyday card which has 0% APR on purchases for 15 months. My CL is $8900. If I charged the full $8900 right away would I be in any trouble? I am making a tuition payment.
  
Can you pay the $8,900 off on the first bill its due?

  Yes in 15 months I will have a year's worth of savings and pay it off before the 0% APR ends. I wasn't sure if it would make Amex angry or hurt my credit score if I used 100% of my CL.

  
It will hurt your credit score a fair bit to have a credit card completely maxed out. How much it will hurt depends on your individual credit profile. Whether or not AMEX would take action with regard to your card would depend on how often they check into your credit and how much maxing out the card hurts you(you may be able to negotiate with them if they try to reduce your credit line though since all the additional debt is on their card.)

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You should let AMEX know that you plan to be making a 'large purchase'. Will help avoid (or reduce chance of) declined transaction and/or fraud alert.

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my us bank card will get 5% CashBack at best buy, shopdiscover portal has a 5% bestbuy link. Is there anyway to double dip these on a $1500 purchase? thanks

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nwill002 said:   my us bank card will get 5% CashBack at best buy, shopdiscover portal has a 5% bestbuy link. Is there anyway to double dip these on a $1500 purchase? thanks
  ShopDiscover requires a Discover card so no.

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It's been hit or miss for me. I say try to go through shopdiscover anyway and use the us bank card. Worst case you only end up with the 5%.

Edit: This might not be the best strategy if there is another portal you can go through. But might be worth a test either way.

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qcumber98 said:   
nwill002 said:   my us bank card will get 5% CashBack at best buy, shopdiscover portal has a 5% bestbuy link. Is there anyway to double dip these on a $1500 purchase? thanks
  ShopDiscover requires a Discover card so no.

  
No.

You need a Discover card yes but you don't need to use it to check out. Or at least most of the time you don't.

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Have a strange tax question.  I filed my taxes about one month ago and already received my refunds by direct deposit.  I file joint returns for my wife and I.  My wife just received a check for $1.00 from the US Treasury that was addressed to her maiden name.  We both thought this was a bit strange, any ideas?

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Zan86 said:   Have a strange tax question.  I filed my taxes about one month ago and already received my refunds by direct deposit.  I file joint returns for my wife and I.  My wife just received a check for $1.00 from the US Treasury that was addressed to her maiden name.  We both thought this was a bit strange, any ideas?
It's probably a refund due to overpayment of a previous tax return. Was there any documentation with the check?

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jayK said:   
Zan86 said:   Have a strange tax question.  I filed my taxes about one month ago and already received my refunds by direct deposit.  I file joint returns for my wife and I.  My wife just received a check for $1.00 from the US Treasury that was addressed to her maiden name.  We both thought this was a bit strange, any ideas?
It's probably a refund due to overpayment of a previous tax return. Was there any documentation with the check?

  
No documentation or anything at all with the check which was also a little strange.

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MyCatIsEvil said:   
qcumber98 said:   
nwill002 said:   my us bank card will get 5% CashBack at best buy, shopdiscover portal has a 5% bestbuy link. Is there anyway to double dip these on a $1500 purchase? thanks
  ShopDiscover requires a Discover card so no.

  
No.

You need a Discover card yes but you don't need to use it to check out. Or at least most of the time you don't.

thanks,   can you expound upon this? is there a way to determine if its ok to use another card in the shopdiscover and still get the shopdiscover bonus before you buy?

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nwill002 said:   
MyCatIsEvil said:   
qcumber98 said:   
nwill002 said:   my us bank card will get 5% CashBack at best buy, shopdiscover portal has a 5% bestbuy link. Is there anyway to double dip these on a $1500 purchase? thanks
  ShopDiscover requires a Discover card so no.

  
No.

You need a Discover card yes but you don't need to use it to check out. Or at least most of the time you don't.

thanks,   can you expound upon this? is there a way to determine if its ok to use another card in the shopdiscover and still get the shopdiscover bonus before you buy?

  

The rebates earned with Shop Discover is for and ran by Discover cards only.   Shop Discover is speficially for Discover cards.
No other credit cards will give you rebates from the Shop Discover portal.

 

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I am currently facing a very serious issue as it relates to my student loans.  More specifically, I have a private student loan consolidation with Sallie Mae.  Due to the very high interest rates, I was currently on what Sallie Mae has termed a rate reduction program.  This program was set to end this month and I was planning to try to renegotiate an extension to this rate reduction program due to the regular interest rate causing the payments to be so high that I cannot afford them.  When I called in to renegotiate, I was informed that my cosigner had filed for Chapter 13 bankruptcy and that the loan was placed on a bankruptcy forbearance.  I was also told that when in this status, Sallie Mae will not negotiate any offers.

Since, I have talked to my cosigner to try to determine exactly what was going on as they have never paid anything to the loan and I have been paying with it totally current.  The cosigner has explained that the bankruptcy forbearance as a result of their filing will be in affect for 5 years and that they are unwilling to remove this account from their filling.  I am very confused as to how my loan can be locked as I am the primary account holder.  In summary, it seems that at the end of this month my interest rate will return to the original interest rate for the loan which is not something I can afford, which will therefore cause interest to accrue and at the end of the forbearance will obviously capitalize and thus end up costing me a significant sum of money.

Any help on getting this issue solved would be greatly appreciated.  I am trying to better understand several things.  First, can Sallie Mae legally change the status of my loan due to a cosigner and prevent me from continuing business as usually?  Can I legally protect myself from the damages that will be incurred due to this?  Also, any other help and advice on getting through this would be greatly appreciated.  A preemptive thank you to anyone that can help.

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Generally a cosigner is equally responsible for the loan. That also means that any action they take on the loan is for the mutual benefit or detriment of the other signer. See if Sallie Mae will release the other party from being responsible. Then you might be able to take the account out of the status. It's highly unlikely that they will, but you can ask.

Other options include finding other ways to pay off the loan. You can also help us help you by providing the following info.
Loan balance
Current rate
Future rate
Years remaining
Credit score

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I would pester the heck out of Sallie Mae.

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I purchased 121 shares of natural gas ETF stocks (BOIL) through Scottrade on 11-1-13 in the amount of $3504.87 and sold all of it on 12-2-13 in the amount of $4146.51 which is a gain of $641.64. All of this is reflected on Scottrades 1099 statement they sent me. The stocks are a limited partnership stock provided by ProShares. The Schedule K-1 statement that ProShares sent me shows the "Current Year Increase (Decrease)" in section L in the amount of $1,628.00 and the "Withdrawals" in the amount of $5132.00. This is nearly a $1000.00 difference than what Scottrade has reported. A ProShares rep explained that the Schedule K amounts will be different from Scottrades statement due to any gains or losses that occurred in the ETF LP are pass through entities so any income gains or losses that occur in the ETF have to be passed down to share holders. Does this sound right? ProShares amount has me paying around $200.00 more to the IRS for gains that I didn't receive. I've talked to 2 Scottrade reps that are befuddled by this.

Thanks for any help you can provide.

Barry

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Hi,
I am yet to fine my tax returns? If I file for extension, will there be any fine during later filing. I am trying to see either rush it and file by deadline or file extension? Is it possible to file extension by using any software for free.  Do I need to use same software while filing delayed tax returns.
Thanks

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rustum said:   Hi,
I am yet to fine my tax returns? If I file for extension, will there be any fine during later filing. I am trying to see either rush it and file by deadline or file extension? Is it possible to file extension by using any software for free.  Do I need to use same software while filing delayed tax returns.
Thanks

You must pay all tax owed by 4/15 regardless of whether you file your return by then or you will be penalized/charged interest.
You can fill out the appropriate federal form and mail it by tomorrow and you will be fine. State procedure varies by state, but many allow you to apply for an extension online. 
Most tax software handles filing your extended return just fine.

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BostonOne said:   
 
You must pay all tax owed by 4/15 regardless of whether you file your return by then or you will be penalized/charged interest.
You can fill out the appropriate federal form and mail it by tomorrow and you will be fine. State procedure varies by state, but many allow you to apply for an extension online. 
Most tax software handles filing your extended return just fine.

Hi BostonOne, 
I did put in my numbers in HR block software. I am eligible to do itemized with mortgage interest and property tax. I will get approximately  $1000 back from IRS.  I will try to file extension with TaxAct or other software. This is the first time, I am doing my tax filing with itemized deductions. I would like to go through some tax consultant and try to see what else can be included in itemized  deductions.

I can do another $5500 IRA contribution for spouse. Wondering if it is something one can do quickly online from vanguard/fidelity by end of the day and qualify for deductions. 
Thanks,

 

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rustum said:   I can do another $5500 IRA contribution for spouse. Wondering if it is something one can do quickly online from vanguard/fidelity by end of the day and qualify for deductions.
  If you have an exiting IRA, contributing 5.5k for 2013 should be doable if you act immediately. I believe Vanguard/Fidelity or most big brokerages should allow ACH transfer from your bank account and post this for today or at least tomorrow (for the deadline). Make sure you indicate that this is a 2013 contribution.

If you are going to open a new IRA, you need to call and make sure they will be able to process it for posting by tomorrow (April 15).

ETA: Whether it will qualify for a deduction depends on your AGI and whether you/your spouse has a retirement plan at work. Details here. You can try inputting this 5.5k contribution for spouse into the tax software and see if it results in a change in refund/tax owed.

rated:
fwuser12 said:   
rustum said:   I can do another $5500 IRA contribution for spouse. Wondering if it is something one can do quickly online from vanguard/fidelity by end of the day and qualify for deductions.
  If you have an exiting IRA, contributing 5.5k for 2013 should be doable if you act immediately. I believe Vanguard/Fidelity or most big brokerages should allow ACH transfer from your bank account and post this for today or at least tomorrow (for the deadline). Make sure you indicate that this is a 2013 contribution.

If you are going to open a new IRA, you need to call and make sure they will be able to process it for posting by tomorrow (April 15).

ETA: Whether it will qualify for a deduction depends on your AGI and whether you/your spouse has a retirement plan at work. Details here. You can try inputting this 5.5k contribution for spouse into the tax software and see if it results in a change in refund/tax owed.

  Thanks fwuser12,
  Spouse never opted for retirement plan at work (Her employer is not doing any match. Some of her colleagues contributes from paycheck).  She needs to       open a new IRA account. I will try reaching     out to vanguard/fidelity. Is there some preferred one interns of services/costs. Is some one offers branches    where we can go and open quickly.  When I put in numbers in H&R   Block software, it recommended to save $5500 for spouse in order to save more tax.  Our child care tax credit also goes up by $300 or something.
  Thanks,
  
 

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rustum said:     Thanks fwuser12,
  Spouse never opted for retirement plan at work (Her employer is not doing any match. Some of her colleagues contributes from paycheck).  She needs to       open a new IRA account. I will try reaching     out to vanguard/fidelity. Is there some preferred one interns of services/costs. Is some one offers branches    where we can go and open quickly.  When I put in numbers in H&R   Block software, it recommended to save $5500 for spouse in order to save more tax.  Our child care tax credit also goes up by $300 or something.
  Thanks,
  

  Make sure Box 13 on the W2 does not say "covered by retirement plan".
If you are happy investing in plain index funds, Vanguard/Fidelity will serve you well. The main thing is to make sure you can open the IRA and contribute the 5.5k and have it count for 2013.
In case you are unable to meet the deadline with Vanguard/Fidelity, it maybe worthwhile exploring a local bank/CU that offers IRA. Open and deposit the funds by tomorrow (in person). You can later do a direct trustee-to-trustee transfer to your preferred broker. The bank may charge you a "IRA closing fee" --- so watch out for that. This ensures you can contribute by the deadline for 2013.

rated:
rustum said:   Hi,
I am yet to fine my tax returns? If I file for extension, will there be any fine during later filing. I am trying to see either rush it and file by deadline or file extension? Is it possible to file extension by using any software for free.  Do I need to use same software while filing delayed tax returns.
Thanks

  TurboTax does free extensions and you don't need to use them to file. You should be fine if you are already getting a refund prior to the IRA contribution. Free Extension 
 

rated:
ITAF3Can said:   
rustum said:   Hi,
I am yet to fine my tax returns? If I file for extension, will there be any fine during later filing. I am trying to see either rush it and file by deadline or file extension? Is it possible to file extension by using any software for free.  Do I need to use same software while filing delayed tax returns.
Thanks

  TurboTax does free extensions and you don't need to use them to file. You should be fine if you are already getting a refund prior to the IRA contribution. Free Extension 

  Thanks to fwuser and ITAF3Can,
I applied IRA with Vanguard and submitted extension.

Thanks

rated:
General auto loan financing question. Say I want to finance a car in 30-60 days... how does the timing of getting approved, having the check to buy the car work? How much time from approval til I can buy? How much time do I have to pull the trigger on the purchase after approval? Vary by financial institution? TIA

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CokeSlurpee711 said:   General auto loan financing question. Say I want to finance a car in 30-60 days... how does the timing of getting approved, having the check to buy the car work? How much time from approval til I can buy? How much time do I have to pull the trigger on the purchase after approval? Vary by financial institution? TIA
 Call PenFed and ask them.

rated:
Hi All, I switched jobs last year and have 50k+ in my 401K still with the last employer; new employer does not offer a 401K option yet. I would like to invest some of that amount into an IRA/Stocks etc. I am virtually a newbie to both fields, what is a good starting place to read on all this or how should I go about shuffling some of my 401k investments?

Thanks in advance for any help

rated:
monseemian said:   Hi All, I switched jobs last year and have 50k+ in my 401K still with the last employer; new employer does not offer a 401K option yet. I would like to invest some of that amount into an IRA/Stocks etc. I am virtually a newbie to both fields, what is a good starting place to read on all this or how should I go about shuffling some of my 401k investments?

Thanks in advance for any help

1. Roll over your 401k to an IRA at a low-cost brokerage (Vanguard, Fidelity).
2. Invest in a lazy portfolio. http://www.bogleheads.org/wiki/Lazy_portfolios

That's all there is to it. You can spend a lot of time reading about this, but it's likely you'll come to the conclusion that doing steps 1 & 2 above is how you should proceed.

rated:
CokeSlurpee711 said:   General auto loan financing question. Say I want to finance a car in 30-60 days... how does the timing of getting approved, having the check to buy the car work? How much time from approval til I can buy? How much time do I have to pull the trigger on the purchase after approval? Vary by financial institution? TIA
When I did this with USAA years ago, the approval was fast and I received the check within a few days. I can't remember if it was good for 30 or 60 days. It likely varies by bank, so I would also recommend contacting them to find out. 

rated:
BostonOne said:   
monseemian said:   Hi All, I switched jobs last year and have 50k+ in my 401K still with the last employer; new employer does not offer a 401K option yet. I would like to invest some of that amount into an IRA/Stocks etc. I am virtually a newbie to both fields, what is a good starting place to read on all this or how should I go about shuffling some of my 401k investments?

Thanks in advance for any help

1. Roll over your 401k to an IRA at a low-cost brokerage (Vanguard, Fidelity).
2. Invest in a lazy portfolio. http://www.bogleheads.org/wiki/Lazy_portfolios 

That's all there is to it. You can spend a lot of time reading about this, but it's likely you'll come to the conclusion that doing steps 1 & 2 above is how you should proceed.

  
+1 on Vanguard.  

rated:
BostonOne said:   
monseemian said:   Hi All, I switched jobs last year and have 50k+ in my 401K still with the last employer; new employer does not offer a 401K option yet. I would like to invest some of that amount into an IRA/Stocks etc. I am virtually a newbie to both fields, what is a good starting place to read on all this or how should I go about shuffling some of my 401k investments?

Thanks in advance for any help

1. Roll over your 401k to an IRA at a low-cost brokerage (Vanguard, Fidelity).
2. Invest in a lazy portfolio. http://www.bogleheads.org/wiki/Lazy_portfolios 

That's all there is to it. You can spend a lot of time reading about this, but it's likely you'll come to the conclusion that doing steps 1 & 2 above is how you should proceed.


Thanks a bunch BostonOne and urtpiz...I did read a bit about the lazy portfolio info on wiki but need to read up more since this is a pretty big investment decision for me. Will be working with Vanguard soon.
 

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