Re: How to build credit
 

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Also, if someone magically gets your credit report and sees what's going on and holds a negative opinion, it's an opinion that shouldn't be valued. This should be blatantly obvious, but apparently you live your life based on how complete idiots think of you.

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The problem is that I agree with the way they think. I also would judge someone. So I guess I'm a complete idiot as well.

Given the relative financial position between the complete idiots and the people who think this is a good idea I think I am happier as a complete idiot. I rather be well judged by people with money than by people who are willing to get involved in a scheme like this for a few thousand dollars.

Re: How to build credit
 

[ QUOTE ]
blue,

Maybe I'm misunderstanding. But to take advantage of this you are creating a fake balance transfer, no? Like you don't have any balance to xfer, you say you do, they mail you a check, continue onward.

Maybe I'm mistaken. Clarification?

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Card A you take out the money as a cash advance. You now have cash in hand and a balance owing that you are paying interest on.

You transfer the entire balance owing from Card A to Card B and take advantage of the introductory offer of 0% interest.

You take the cash and put it in the bank to earn your 5%.

When the introductory offer on Card B ends you either just pay it back or get a new card and repeat the process.

Re: How to build credit
 

if ur above 700 ur fine

Re: How to build credit
 

[ QUOTE ]
[ QUOTE ]
Also, if someone magically gets your credit report and sees what's going on and holds a negative opinion, it's an opinion that shouldn't be valued. This should be blatantly obvious, but apparently you live your life based on how complete idiots think of you.

[/ QUOTE ]

The problem is that I agree with the way they think. I also would judge someone. So I guess I'm a complete idiot as well.

Given the relative financial position between the complete idiots and the people who think this is a good idea I think I am happier as a complete idiot. I rather be well judged by people with money than by people who are willing to get involved in a scheme like this for a few thousand dollars.

[/ QUOTE ]

A random stranger that knows nothing about, say paintings, and you happen to own a painting worth $1m... he says your painting blows and would be worth less than $200, are you going to cry at night? Is that going to cost you $999,800? No. The problem with all of your retarded scenarios is that somehow, some random gets your credit report. His opinion means NOTHING.

The only people that DO get your credit score will be those qualified to understand it. They will see the entire history, your score, etc. Your credit doesn't suddenly become equal to someone who just filed bankruptcy. You will still have good credit if you started with excellent credit. Also, as noted before, DON'T DO AN APP-O-RAMA IF YOUR CREDIT IS NEEDED AND WILL AFFECT SOMETHING. So your whole point is moot. I also don't think you understand that your credit will be the same or better after you complete an AOR and others will not be able to see that you did one.

Free 6-20k with no trace of "scum" > Paranoia.

You are a very successful troll btw.

Re: How to build credit
 

Get it through your thick skull that good credit doesn't rely on how many credit cards you have. Why don't you learn a subject before arguing out of your ass?

Business people care about your entire credit in general and you know nothing about credit. Not to mention, you don't do an app-o-rama if a credit score fluctuation will cost >10k. If you don't understand this you are a complete buffoon.

Re: How to build credit
 

I don't think you are understanding my point. It isn't about credit score. I don't care about my score since I have never bought anything on credit and I never will.

I don't see why it is so hard to understand that a few thousand dollars is not worth risking the possibility of having people look down on me.

I do believe that everyone is connected by X degrees of separation and I do believe that people talk and gossip a lot.

Even if no one ever found out I would still know and I'd feel pathetic for doing it. No amount of money is worth that.

Re: How to build credit
 

[ QUOTE ]
Get it through your thick skull that good credit doesn't rely on how many credit cards you have. Why don't you learn a subject before arguing out of your ass?

Business people care about your entire credit in general and you know nothing about credit. Not to mention, you don't do an app-o-rama if a credit score fluctuation will cost >10k. If you don't understand this you are a complete buffoon.

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Having too many credit cards will hurt your FICO score. The threshold is pretty high though and this is a very small part of the score. On the other hand, thanks to the consumer credit crisis at present, we may very well be headed back to relying less on FICO and more on human judgment in credit analysis - having flipped a lot of credit cards can't look too good. Of course this depends on how far you take this - no one will care about 7-8 credit cards, for instance.

Re: How to build credit
 

[ QUOTE ]
[ QUOTE ]
blue,

Maybe I'm misunderstanding. But to take advantage of this you are creating a fake balance transfer, no? Like you don't have any balance to xfer, you say you do, they mail you a check, continue onward.

Maybe I'm mistaken. Clarification?

[/ QUOTE ]

Card A you take out the money as a cash advance. You now have cash in hand and a balance owing that you are paying interest on.

You transfer the entire balance owing from Card A to Card B and take advantage of the introductory offer of 0% interest.

You take the cash and put it in the bank to earn your 5%.

When the introductory offer on Card B ends you either just pay it back or get a new card and repeat the process.

[/ QUOTE ]

But aren't cash advances just a fraction of full credit limits?

For example mine is ~20%. Is this normal for these cards? Am I getting junky CCs? To make 6k a year on this plan seems like you need to pull down 500k of credit.

Re: How to build credit
 

[ QUOTE ]
[ QUOTE ]
Get it through your thick skull that good credit doesn't rely on how many credit cards you have. Why don't you learn a subject before arguing out of your ass?

Business people care about your entire credit in general and you know nothing about credit. Not to mention, you don't do an app-o-rama if a credit score fluctuation will cost >10k. If you don't understand this you are a complete buffoon.

[/ QUOTE ]

Having too many credit cards will hurt your FICO score. The threshold is pretty high though and this is a very small part of the score. On the other hand, thanks to the consumer credit crisis at present, we may very well be headed back to relying less on FICO and more on human judgment in credit analysis - having flipped a lot of credit cards can't look too good. Of course this depends on how far you take this - no one will care about 7-8 credit cards, for instance.

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Sorry, but you are wrong. You can find out how a FICO score is calculated on your own.

Re: How to build credit
 

[ QUOTE ]
I don't think you are understanding my point. It isn't about credit score. I don't care about my score since I have never bought anything on credit and I never will.

I don't see why it is so hard to understand that a few thousand dollars is not worth risking the possibility of having people look down on me.

I do believe that everyone is connected by X degrees of separation and I do believe that people talk and gossip a lot.

Even if no one ever found out I would still know and I'd feel pathetic for doing it. No amount of money is worth that.

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lol, you are an idiot.