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I am leaving JP Morgan next month and have resigned before completing of my 1 year with the firm but technically my year will be completed next month before notice period. The laptop allowance and the relocation allowances will it be recovered from me during my exit??
Please let me know if anyone is aware of this scenario.. Leaving JP Morgan is completely personal JPMorgan Chase
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If you're carrying a $6k balance for a year an interest rate higher than the fee for 12 months at 0%, simple math says it's worth it.
Let's be honest. Regardless of the doom and gloom others tend to spout, debt isn't the Boogeyman if you manage it properly.
Credit card float is the single best kind of debt and it’s not talked about nearly enough.
Not what OP is talking about, but my ability to not draw into savings for the $3k random expense by delaying paying for it by 55 days is the best thing ever. To those who will inevitably reply I’m living paycheck to paycheck: no, I just believe in maximizing compound interest.
So yes, debt is definitely a useful tool.
There’s typically a fee, generally 5% of the transferred balance, and when you apply for one of those cards, there’s no guarantee that you’ll get a credit limit high enough to cover the amount you want to transfer.
I've done it a couple of times with no issues. Two things to be aware of:
1) There is usually a transfer fee somewhere between 2-6%, so be sure to take that into account.
2) Make sure you pay off the total amount before the final date (usually 12-24 months), or you will get hit with some crazy interest rate and not be any better off than now.
I do it all the time. I can earn more on the market than the ~3% transfer fee, so it’s just extra leverage.