Everyday Cheapskate

Dear Mary: We have a mahogany dining room suite that is 100 years old. There is sticky buildup on the tops of the chairs and on the buffet. How can I make them shine again? A pad has protected the top of the table for many years, so the table has a beautiful shine and no scratches. I would love for the rest of the set to look that good again. — Kristy S., e-mail

Dear Kristy: My suspicion is that you have a buildup of oil, dirt and furniture polish that has accumulated over many years as hands have touched the items. I suggest you get some Murphy Oil Soap, a liquid wood cleaner that's about as old as your furniture. You'll need to add a good amount of your own elbow grease, but Murphy's should penetrate the built-up gunk so you can wipe it away. You can find Murphy's in your supermarket or discount department store. To learn more about this 100-year-old product, go to http://www.colgate.com and look for Murphy Oil Soap under "products."

Dear Mary: We have $16,000 in available credit on four credit cards. We charge about $2,000 a month and carry no balance on any of them. We also have a car loan with a balance of $6,800 at 8.4 percent and a monthly payment of $327. We have the option on a $5,000-limit card (which we never use) to transfer a balance for a fee and zero percent APR for the life of the balance. I have considered transferring a chunk of the car loan by paying it off with a check from the credit card company and then paying the minimum on the credit card.

Then, once the reduced car loan is paid in full in eight months, we could direct that $327 toward the card balance until it is paid in full, too. Do you think the savings in interest would be worth it? — Veronica S., e-mail

Dear Veronica: Please do not do that. We are in a very dangerous period until July 2010, at which time credit card companies will be unable to raise interest rates retroactively on credit card accounts. Until then, they can and will raise rates, without regard for the "promise" of zero percent interest. Trust me on this. I could show you thousands of letters from your fellow "Everyday Cheapskate" readers who believed a "fixed rate" on a credit card account actually meant it could not go up. A fixed rate only means that it is not tied to a specific index.

Another problem: I assume that by saying you will transfer a "chunk" means about $5,000. That would max out your card and deal a terrific blow to your credit score. You never want to find yourself using more than 30 percent of your available credit on any card at any time, even when you pay the balance to $0 each month.

Do you have a question for Mary? E-mail her at mary@everydaycheapskate.com, or write to Everyday Cheapskate, P.O. Box 2135, Paramount, CA 90723. Mary Hunt is the founder of www.DebtProofLiving.com and author of 18 books, including "Can I Pay My Credit Card Bill With a Credit Card?" To find out more about Mary and read her past columns, please visit the Creators Syndicate Web page at www.creators.com.

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