3 questions: 1. How are you calculating the effective rate? Isn’t it interest paid/initial balance? When I do it I get a slightly different number, for example 18.7104% at 59:57 2. How are you able to pull out money from the credit card without balance transfer fee? Credit cards unlike he locks are close ended loans. 3. In another video you said that you could get 0% balance transfer, but all of the other balance transfers are 3% or 5%. I don’t get how you make them pay you only 0%? Great video! I would love to have a bit more clarification on these issues
Answer to question #1- You would be right if you've plugged in the interest paid/Monthly interest charges in your computation but since the Average Daily Balance Method is the most common method used by most lenders; then using the Average Daily (instead) would put you more in line with what the lenders are doing. 10,000 x 18.97% effective rate, divided by 365 days (assumed) = 5.1973 Avg. Daily Answer to questions #2 and #3- Ambroise Method is a revolutionary debt repayment method. We are not handicapped or limited by what the big banks/creditors could do for us. We could still execute our own balance transfers without the help of the big banks/creditors by employing Ambroise's Charge-Pay Technique (Normal) which essentially costs us 0% in fees. Ambroise's Charge-Pay Technique was introduced in those later lessons #11 & #13 and some of the case studies as well Here are some of the links ruclips.net/video/k_EkMBOhZiQ/видео.html ruclips.net/video/DZEDsG7M1Ug/видео.html Great questions! Thank you!
3 questions:
1. How are you calculating the effective rate? Isn’t it interest paid/initial balance? When I do it I get a slightly different number, for example 18.7104% at 59:57
2. How are you able to pull out money from the credit card without balance transfer fee? Credit cards unlike he locks are close ended loans.
3. In another video you said that you could get 0% balance transfer, but all of the other balance transfers are 3% or 5%. I don’t get how you make them pay you only 0%?
Great video! I would love to have a bit more clarification on these issues
Answer to question #1-
You would be right if you've plugged in the interest paid/Monthly interest charges in your computation but since the Average Daily Balance Method is the most common method used by most lenders; then using the Average Daily (instead) would put you more in line with what the lenders are doing.
10,000 x 18.97% effective rate, divided by 365 days (assumed) = 5.1973 Avg. Daily
Answer to questions #2 and #3-
Ambroise Method is a revolutionary debt repayment method. We are not handicapped or limited by what the big banks/creditors could do for us. We could still execute our own balance transfers without the help of the big banks/creditors by employing Ambroise's Charge-Pay Technique (Normal) which essentially costs us 0% in fees.
Ambroise's Charge-Pay Technique was introduced in those later lessons #11 & #13 and some of the case studies as well
Here are some of the links
ruclips.net/video/k_EkMBOhZiQ/видео.html
ruclips.net/video/DZEDsG7M1Ug/видео.html
Great questions!
Thank you!
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Thank you!