How to get money to trade...$2000.00 FREE
- Thread starter pumpkinhead
- Start date
Your first strategy is reckless- lose the $$$ and you still have the debt = bad idea.
As for earning rewards, good thinking but implementation is flawed and there is always a spread when dealing in bullion.
If you want real strategies to earn rewards- check out the finance forum on fatwallet.com- though recently the ideas aren't as good and the typical post seems to be "help I am a moron who doesn't know how to handle money- bail me out"
My 2 cents.
As for earning rewards, good thinking but implementation is flawed and there is always a spread when dealing in bullion.
If you want real strategies to earn rewards- check out the finance forum on fatwallet.com- though recently the ideas aren't as good and the typical post seems to be "help I am a moron who doesn't know how to handle money- bail me out"
My 2 cents.
you must have 0% apr on balance transfers on that card. people do make money in simular way with credit cards, but they usually trying to earn interest, not trade with it.
here is much more simple approach-you open new credit with 0% apr on balance transfers for next 12 month or more(they may give you as much as 10K or even more), you transfer money to another credit card with zero balance and then request check. that's it. you don't have to buy anything. you got 10G's with 0% for next 12 months.
google stoozing
Get a job.
Work 1 month.
Earn $2k.
0% risk.
Debt free.
Work 1 month.
Earn $2k.
0% risk.
Debt free.
Here's a better idea:Quote from pumpkinhead:
Here's the deal. You need TWO credit cards with lots of credit left on them. An empty credit card is best with no amount due. Here's how you do it....You go to a department store and buy a large price item with one of your credit cards. Buy somebody that you can return...like a laptop computer or a piece of jewlery for $2,000.00....Then after a week, you tranfer the amount with a balance tranfer check onto your OTHER credit card. So you just tranfered 2K onto your OTHER credit card. Then you RETURN the computer or jewlery or whatever you bought for 2K to the store and they will credit your credit card that you used to purchase the item. So you now have a 2K credit on an empty credit card with no money due. The credit card HAS to send you a refund check in the mail if you ask them to because you owe them NO MONEY. So you call the card company and ask them to send you a check for the 2K that they owe you. They do it and you now have 2K to trade with. LOL. What do you think? You have any better ideas?
Take a credit card balance transfer check. Write your name on it. Deposit it at your bank. Now you have accomplished the same thing with a lot less work.
You do know that you can use those balance transfer checks for anything, not just paying off other credit balances, don't you?
Very bad idea. Balance tranfer checks charge high interest and cash advance fee's. A credit card check is the same as a cash advance and they charge 50% and more interest which is compounded "daily". There is no payoff grace period. They charge $500.00 to take out 5K. Bad idea. No cash rewards given for cash advances with credit card checks. Bad idea.
It has to be an item purchase if you want the cash back rewards with zero interest and a payoff grace period.
Balance tranfer checks used to tranfer balances from one CC to another are not charged fee's and some give zero interest. If a balance tranfer check is used to deposit money into your account, then they chage high interest and fee's. Bad idea.
You are wrong, you do not have to pay off another credit card to take advantage of credit card balance transfer checks.
What you are suggesting isnt new, lots of folks do it routinely (take a zero percent loan using credit cards)
Read: http://www.fatwallet.com/t/52/632935/