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Old 11-30-2007, 05:47 PM
Henry17 Henry17 is offline
Senior Member
Join Date: Aug 2007
Posts: 1,285
Default Re: How to build credit


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.
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