Internet Arbitrage? - How about credit card arbitrage. Some people making thousands.

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katoved

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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
Bookmarks: del.icio.us, digg, reddit

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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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.
 
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.
 
lerchmo said:
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.
Click to expand...

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!
 
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% introductory offers in the mail.
 
lerchmo said:
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.
Click to expand...

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.
 
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...
 
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.
 
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