katoved

The Simple Dollar » Introductory Credit Card Offers As Profit: Risks and Rewards

Introductory Credit Card Offers As Profit: Risks and Rewards 3
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November 8, 2006 @ 12:28 pm - Written by Trent
Categories: Organizing Money, Credit Cards, Passive Income
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One advantage of building a strong credit rating is that you begin to receive many credit card offers with introductory 0% APR for six months or a year. These cards are great if you’re carrying a balance on another card; request a balance transfer when you sign up and the interest goes away.

Of course, any time that a bank offers to save you money, there is a way to use that offer to make money for yourself. First, apply for a credit card where you can get a strong credit limit. This first card is not as important as the others; don’t worry too much about a long-term APY. As soon as the card is opened, withdraw as much as you can as a cash withdrawal from the card and deposit that amount in a high-yield savings account. Then, obtain a second card, this one with a long-term introductory 0% APY, and transfer the balance from the first card onto the second one.

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Clickit

Most credit card companys charge a fee for a cash advance.

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katoved

This is true, what is the cash advance fee? Is it a percentage or a flat amount? Maybe some cards have no cash advance fee. If you combine this with my Google Checkout idea, you run no risk of incuring cash advance fees.

Someone

Search the net for "App-o-rama"

lerchmo

make a thread on how to hit on 26 girls in 4 hours using nothing but a match, gum and a video of a mexican beating a crackhead with his belt and porno cards.

katoved

More like 40 girls; or 40 prostitutes, match, gum, penny, and yes the awesome mexican beat down video. Hahaha, I will have that video up later this week for everyone. Nice meeting you Lerchmo!

lerchmo

I have hit on like 39 girls in the last 3 years. you too katoved!

cdc

I've done the cash advance game before. You just have to make sure that the fees they charge are less than the interest you're going to make. I didn't make thousands, but I did make hundreds for a few minutes of your time. Plus it feels good to take advantage of these companies.

One nice perk from doing it is that you don't receive any more 0&#37; introductory offers in the mail.

MisterX

Since 4 hours is 240 minutes, you have some 9 minutes for each one.

Choose a girl in a corner of the club.

Move to her close vicinity and use the *match to light the wrapping paper of your gum and quickly get her attention.

After she notices you, act a little distracted, smile, mention something about your clumsiness and apologize for disturbing her. Offer her the *gum, ask her how she's doing.

*Order yourself a drink and ask her if she wants one.

Leave in the middle of her 3rd-5th serious answer to one of your questions, apologizing for having to rush out, and ask her for her name, in case you come back to talk to her later.

Go to another part of the club and choose another girl.

Move to her close vicinity...



* the Mexican video thingy is given to break.com in exchange for money with which you'll buy the matches, gums and drinks.

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"...and at a miracle! by simple operations began a little to earn..."

Reefer420

don't credit card companies run a credit check on you every time you sign up for a new card? i know that each time a credit check is run it lowers your score by about 10 points - it is done to discourage exactly this type of thing, and to stop people from having too many cards...

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I'd rather be rich than stupid.

katoved

Yes, they do lower your ciredt rating. But its not m y much. Just a few pionts., Unless yr plaionting on purhainsg a ghoie ijt madoewnt magtter. Ahaha, yes im drunk and ruitlinh.

katoved

Can only read mt last post one yeeed.

katoved

Shit, im sorry, disregard my drunk comments.

katoved

Time to eat Jimmy deans sausage egg mcmuffin sandwich. So fuckin good, but takes forever to cook in oven. Like 30 ,minutes!!!!

katoved

Microwave sukssksksksks.ssssssssssss........................ 17 mo wseeconds till I can talk to myself.

beer234

I wonder how this would impact a major loan like when you want to buy a new car or more importantly a house.

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BrianL

It's also not so much the number of credit checks that will hurt you as continuously having revolving accounts maxed out. As an example, I was shuffling money around a couple years ago using 3 different cards, all of which were being reported as close to their limit. Last year, I paid them off and as soon as their balances reported as being $0, my credit score went up 80+ points.

sage55

Nice - what a sure way of fucking up your credit, yeah great advice!