Original Message From CHUCK THOMPSON To CAROLE CAPUANO...
CT>ú However, in looking at this procedure, it's actually logical.  You get
CT>ú assets by using the credit card, and they don't cost anything until
CT>ú you pay for them (sounds like something my wife would say!).
CT>ú When you pay for them by transfer from a checking account, say, to the
CT>ú credit card account, the "asset" is wiped out, and the checking
CT>ú account is reduced by the appropriate amount.  For the short period
CT>ú of time between purchase and payment, your assets are, actually,
CT>ú increased.
This might only apply if you were doing everything on a "cash"
method, while most people actually use the "accrual" method,
whereby it's "on the books" as soon as you get it, whether it's
paid for or not.  
While it might make your financials LOOK a lot better, dont try
to swing a loan from your bank manager based on this method of
calculating your net worth .  In other words, if you just
went out and bought a $10,000 item on your VISA, and you still
have the $10,000 in your bank account to pay for it when the
VISA bill comes in, there's no way in the world your bank
manager will accept that you think you're worth $20,000.
Cheers...., Brian        EMail:  bhillis@pro-mail.com
                           Web:  http://www.pro-mail.com
                          Fido:  Brian Hillis@1:250/1004
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