Credit Card Whoring

[bluef0x]

[ QUOTE ]
PROFITING 59K.........

-FH-

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He asked you to elaborate...

[Shoe]

[ QUOTE ]
PROFITING 59K.........

-FH-

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Are you talking about the loophole that is currently being closed where you add those with poor credit to your account to improve their score? If so how do you go about doing this and how much can you get per person you "help"? I have A+ credit but know I cannot get enough credit to earn 59k in interest.

[Fishhead24]

No, I'm talking about getting a 0-1% interest loan on a credit card and investing the funds into a 5-6% savings account.

EASY MONEY..........SOMEWHAT SORT OF.

-fh-

[DcifrThs]

[ QUOTE ]
No, I'm talking about getting a 0-1% interest loan on a credit card and investing the funds into a 5-6% savings account.

EASY MONEY..........SOMEWHAT SORT OF.

-fh-

[/ QUOTE ]

why only 59k? or why exactly 59k? why not millions if you can get the credit?

Barron

[Nomad84]

You really think it should be a piece of cake to borrow $1.18MM on credit cards? And if so, then we're back to Barron's question. What makes $59k the magic number? Why not $55k? Or $60k?

[Fishhead24]

59K is my personal record for one year........just an example.

[DcifrThs]

[ QUOTE ]
EASY MONEY..........SOMEWHAT SORT OF.

[/ QUOTE ]

[ QUOTE ]
59K is my personal record for one year

[/ QUOTE ]



Barron

[Shoe]

[ QUOTE ]
59K is my personal record for one year........just an example.

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You must have a super-high annual income then. Usually, credit card companies stop giving you 0% cards once you reach close to your gross annual income in debt, which for me is around 60k, or at 5% interest, about $3,000 in free money per year. I wish i could get more.

[FoldYourLife]

[ QUOTE ]
No, I'm talking about getting a 0-1% interest loan on a credit card and investing the funds into a 5-6% savings account.

[/ QUOTE ]
Which credit cards loan at 0-1%???

[destroBU]

[ QUOTE ]
[ QUOTE ]
No, I'm talking about getting a 0-1% interest loan on a credit card and investing the funds into a 5-6% savings account.

[/ QUOTE ]
Which credit cards loan at 0-1%???

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Most of them... for a limited time promo period. That's the key.

If you're really interested in this, read the FW threads someone linked above.

I started doing this recently, and in a word, 59k is generally ridiculous. After several years of building up huge credit lines, making a ton of money in your day job, and working the credit system, maybe. Few people will be able to get to that point, though. Expect a few grand tops for the first go around, and it gets better the longer you work the system and the more money you make.