[Henry17]

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also i would like to point something out. people who do stuff like this (hustle credit cards) almost always don't NEED the money. it has zero to do with needing money and everything to do with appreciating how money can work for you.

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I don't understand why anyone would do something if you don't need to. By need I mean it has an impact (or at least they believe it will have an impact) on their quality of life.

Anyway the flaw in my reasoning was that I assumed the ability to get credit was strongly correlated to income. That for someone to manage to get two $100k credit cards would require that they make at least $150-200k.

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i APPLAUD people who do stuff like this and just based on the law of averages i most likely have a > net worth than any of the friends you talked with.

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Unlike you I won't make any assumptions about your net worth. I also have no idea what my friends' net worth is either. I do know what they pay in rent since they are my neighbours. If you are using the law of averages as a foundation then you'd lose this bet.

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Still not understanding how this can work. Cash advances generally don't fall into all of this 0% stuff right?

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I have never researched it but I think I have a general idea of how it works.

1. Get a credit card. Max it out with cash advances. You will pay interest on this but only for a very short period.

2. Get a second credit card. Take advantage of the introductory offer and transfer the entire balance from credit card 1 to this card. Now the loan is interest free.

3. Meet all the obligations of the second card. Some require nothing. Others require that you make X amount in purchases.

4. As the promotion ends get a new credit card. Got to Step 2 and repeat.