tag:blogger.com,1999:blog-2818480333870774602.post8181534446994477631..comments2024-03-08T16:27:40.311+08:00Comments on Portfolio Diversification: Interest on credit limit balance!Mike Dirnthttp://www.blogger.com/profile/04811948691612939470noreply@blogger.comBlogger26125tag:blogger.com,1999:blog-2818480333870774602.post-23775638492246536602009-09-16T14:56:49.399+08:002009-09-16T14:56:49.399+08:00MMF is not a sure win fund?? The value may drop as...MMF is not a sure win fund?? The value may drop as well and you might end up losing part of your principal sum??TUhttps://www.blogger.com/profile/06513300668193229368noreply@blogger.comtag:blogger.com,1999:blog-2818480333870774602.post-37336554649958408982008-10-15T10:24:00.000+08:002008-10-15T10:24:00.000+08:00thanks. yes it can only be done from DBS as they a...thanks. yes it can only be done from DBS as they allow bill payment from credit card to be paid to trading accounts.<BR/><BR/>poems cash management account is a short term cash account. so they usually expect cash in and out from traders/investors on a daily basis.<BR/><BR/>there is nothing illegal about this as DBS/POSB permits it. i heard the other banks do allow it last time but had stopped Mike Dirnthttps://www.blogger.com/profile/04811948691612939470noreply@blogger.comtag:blogger.com,1999:blog-2818480333870774602.post-6961110900651470412008-10-14T23:06:00.000+08:002008-10-14T23:06:00.000+08:00Hi Mike,I love your blog..its practical!.This is a...Hi Mike,<BR/><BR/>I love your blog..its practical!.<BR/><BR/>This is a great tip. Is it only DBS card can use? If i got RBS, HSBC,Citi,Maybank,OCBC,UOB can i do bill payment also to POEMs?<BR/><BR/>Oh yes and when you are doing this, did you receive a call from any POEMS people asking you questions as they may deem it as money laundring with cash coming in and going out?ThinkOutOfTheBoxhttps://www.blogger.com/profile/17400357932489373931noreply@blogger.comtag:blogger.com,1999:blog-2818480333870774602.post-43875979778202295642008-07-04T11:18:00.000+08:002008-07-04T11:18:00.000+08:00Hi Mike,Even there's no interest charges, there is...Hi Mike,<BR/><BR/>Even there's no interest charges, there is always processing fee / administration fee / whatever you call that up front.<BR/><BR/>Please show me some websites from banks that do not require that.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-2818480333870774602.post-52983971585854665592008-06-30T11:50:00.000+08:002008-06-30T11:50:00.000+08:00hi sills,pls read the post carefully. there is no ...hi sills,<BR/><BR/>pls read the post carefully. there is no interest charges. if there is interest, there is no incentive of doing it.<BR/><BR/>yes you need to pay back the credit. it is good enough for a 1 month loan free of interest charges.Mike Dirnthttps://www.blogger.com/profile/04811948691612939470noreply@blogger.comtag:blogger.com,1999:blog-2818480333870774602.post-33622149775535856532008-06-30T10:54:00.000+08:002008-06-30T10:54:00.000+08:00sorry some amendment..Isn't it not worth it if the...sorry some amendment..<BR/><BR/>Isn't it not worth it if the credit interest you have to repay is <B>more</B> than the interest you can generate from MMF in a month using the balance transfer?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-2818480333870774602.post-24787020348429807582008-06-30T10:52:00.000+08:002008-06-30T10:52:00.000+08:00oh.. i thought is 6 months 0% interest free with p...oh.. i thought is 6 months 0% interest free with processing fee 1.5%, e.g.: UOB (http://www.uobgroup.com/pages/promotions/promo_cardsft.html)<BR/><BR/>anyway, you still have to repay the credit you transferred right?<BR/><BR/>Isn't it not worth it if the credit interest you have to repay is less than the interest you can generate from MMF in a month using the balance transfer?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-2818480333870774602.post-2438024973166462362008-06-26T12:01:00.000+08:002008-06-26T12:01:00.000+08:00hey sills,its not interest free for 6 months. its ...hey sills,<BR/><BR/>its not interest free for 6 months. its only interest free for 1 month :P<BR/><BR/>salary is your own money. credit is given to you extra. if you utilise it, you earn some money. you dont utilise it, you dont earn anything.Mike Dirnthttps://www.blogger.com/profile/04811948691612939470noreply@blogger.comtag:blogger.com,1999:blog-2818480333870774602.post-86300025248708388562008-06-26T09:07:00.000+08:002008-06-26T09:07:00.000+08:00hey Mike,Even though you transfer the credit limit...hey Mike,<BR/><BR/>Even though you transfer the credit limit of your credit card, you still have to pay off over the next 6 months (interest free period) right?<BR/><BR/>Isn't it the same as transfer part of your salary to MMF? Well.. perhaps salary might not be more than the credit limit..Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-2818480333870774602.post-4556051957303310622008-06-24T18:07:00.000+08:002008-06-24T18:07:00.000+08:00Hi Kurt,you can use any of the card. for consisten...Hi Kurt,<BR/><BR/>you can use any of the card. for consistency, i use the everyday card every month. <BR/><BR/>any card is ok because as long you use the limit of your DBS/POSB, all the credit card limit will be affectedMike Dirnthttps://www.blogger.com/profile/04811948691612939470noreply@blogger.comtag:blogger.com,1999:blog-2818480333870774602.post-80374692206052626722008-06-24T16:45:00.000+08:002008-06-24T16:45:00.000+08:00Hi Mike, i'm very new to this.I have just started ...Hi Mike, i'm very new to this.<BR/>I have just started to look into the options of saving my money into MMF to make it grow. <BR/>Read about your DBS stuff, i own 3 cards from them, everyday, live, and their Amex version. How do i pick from them?<BR/>Kindly advise...Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-2818480333870774602.post-3839888659399655852008-05-15T21:31:00.000+08:002008-05-15T21:31:00.000+08:00Definitely no charges. if not it is not right to l...Definitely no charges. if not it is not right to leave it there as most people leave their emergency funds in the mmf.Mike Dirnthttps://www.blogger.com/profile/04811948691612939470noreply@blogger.comtag:blogger.com,1999:blog-2818480333870774602.post-68998972477264091822008-05-15T20:41:00.000+08:002008-05-15T20:41:00.000+08:00Thanks Mike! So I assume there's no charges for wi...Thanks Mike! So I assume there's no charges for withdrawal of any amount in the cash management.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-2818480333870774602.post-70806589692206302702008-05-15T16:25:00.000+08:002008-05-15T16:25:00.000+08:00sell means selling your mmf units. in other words ...sell means selling your mmf units. in other words it is the same like withdrawal :)Mike Dirnthttps://www.blogger.com/profile/04811948691612939470noreply@blogger.comtag:blogger.com,1999:blog-2818480333870774602.post-40821556661729901162008-05-15T14:25:00.000+08:002008-05-15T14:25:00.000+08:00Thanks Mike that was a fast response!When you said...Thanks Mike that was a fast response!<BR/><BR/>When you said trigger a sell, what kind of charges will there be (if any)?<BR/><BR/>Sorry for the novice question :PAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-2818480333870774602.post-77846322532707291462008-05-15T11:07:00.000+08:002008-05-15T11:07:00.000+08:00yes francesca. they are similar. i prefer poems ca...yes francesca. they are similar. i prefer poems cash management to fsm cash fund.<BR/><BR/>poems cash management is very liquid. if you trigger a sell before 10am(if im not wrong), you will see the money in the afternoonMike Dirnthttps://www.blogger.com/profile/04811948691612939470noreply@blogger.comtag:blogger.com,1999:blog-2818480333870774602.post-10524674460819566472008-05-15T10:15:00.000+08:002008-05-15T10:15:00.000+08:00Hi Mike, from your post I understand that all cash...Hi Mike, from your post I understand that all cash in POEMS cash management account will be invested in the MMF.<BR/><BR/>Is this similar as you investing your cash in FSM, ifast cash acount MMF?<BR/><BR/>Thanks!Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-2818480333870774602.post-12308946835398015632008-03-06T02:06:00.000+08:002008-03-06T02:06:00.000+08:00any other cc can do this and earn rewards you mean...any other cc can do this and earn rewards you mean? No there isn't. The "interest free" cash advance is already good enough.<BR/><BR/>like verbatin mentioned, i prefer to receive cash rebates than redeeming rewards. as to the value of the rewards, maybe some rewards are good like the kris flyers, but useful if you are a frequent flyer. i had rather receive cash rebates as i can have control on Mike Dirnthttps://www.blogger.com/profile/04811948691612939470noreply@blogger.comtag:blogger.com,1999:blog-2818480333870774602.post-63393397498336918102008-03-05T12:28:00.000+08:002008-03-05T12:28:00.000+08:00reward point is not as good as cashback. for every...reward point is not as good as cashback. for every $1,000 spent, reward point is only around 0.3%.<BR/>and there is expiry for reward point and sometimes u force yourself to get something which u didnt want to<BR/><BR/>i'll take cashback anytimeAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-2818480333870774602.post-54260557818027975112008-03-05T07:39:00.000+08:002008-03-05T07:39:00.000+08:00hey mike - good tip there.lemme pick your brain a ...hey mike - good tip there.<BR/><BR/>lemme pick your brain a bit - any other credit cards in Singapore can do this? I'm much more interested in accruing reward points from the credit card. <BR/><BR/>DBS ones doesn't give out reward points for online bill payment, installment plans, etc.<BR/><BR/>any ideas?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-2818480333870774602.post-57329461619704385002008-02-14T21:39:00.000+08:002008-02-14T21:39:00.000+08:00i have applied for a poems account. seem that the ...i have applied for a poems account. seem that the interest from phillip money fund is higher than FSM.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-2818480333870774602.post-49828876893974055932008-02-10T23:57:00.000+08:002008-02-10T23:57:00.000+08:00you can start transfer your balance on your fsm ca...you can start transfer your balance on your fsm cash fund. i doubt DMG got cash management account. if have also the interest is not that goodMike Dirnthttps://www.blogger.com/profile/04811948691612939470noreply@blogger.comtag:blogger.com,1999:blog-2818480333870774602.post-62942233646039275012008-02-10T23:32:00.000+08:002008-02-10T23:32:00.000+08:00i have fundsupermart account but hv never thought ...i have fundsupermart account but hv never thought of putting it into FSM cash account<BR/><BR/>i am not sure DMG has their cash mgt account or not.<BR/><BR/>Now that i know i can make use of my DBS card credit limit to earn interest, I may do it in futureAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-2818480333870774602.post-62274829090770564612008-02-10T14:25:00.000+08:002008-02-10T14:25:00.000+08:00Hi Verbatin,Do you have any other cash management ...Hi Verbatin,<BR/><BR/>Do you have any other cash management account like FSM cash fund? you can transfer there also? Does DMG got a cash management thingy also? Actually this cash management thing is a good temporary place for parking one's money before buying stock. Many investor park money there at the same time earn higher interest. its good to open a poems account as a sake of Mike Dirnthttps://www.blogger.com/profile/04811948691612939470noreply@blogger.comtag:blogger.com,1999:blog-2818480333870774602.post-16316529017560378932008-02-10T12:09:00.000+08:002008-02-10T12:09:00.000+08:00Hi Mike,the only way to put my excess money into p...Hi Mike,<BR/><BR/>the only way to put my excess money into philips money fund is to open a POEMS account with Phillip securities?<BR/><BR/>any other way to put money in Philps money fund?<BR/><BR/>ThanksAnonymousnoreply@blogger.com