Probably a terrible idea

[bluesbassman]

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So the idea is to take out a few credit cards that have 0% interest for the first x months or maybe a year. You then purchase a bunch of merchandise on the cards that you can easily sell for the same value (+ shipping) on EBAY. For example, you buy a bunch of XBOX games for $60 a piece and then sell them for approximately $60 or $65 on EBAY. You basically break even, but raise a whole bunch of cash in the process. You then invest all of this money the best that you can, all while making the minimum payments on the cards. When the 0% interest runs out, you pay everything back, and profit from whatever the investments made you.

Is this idea feasible at all? Should I go back to OOT?

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Rather than buy merchandise you had to sell, couldn't you buy an expensive electronic item(s) and return it for a full refund? When you take it back to the store, tell them you lost your credit card, and presumably they would cut you a check. For example, I just bought a $4000 plasma HDTV from a place that will give you a full refund (no restocking fee) within 30 days, no questions asked.

[Dazarath]

You mean store credit?

[Dazarath]

Well, it seems like the OP's original idea is the way to go, as cash advances don't seem feasible. Is it possible that this is illegal, though? (Personally, I wouldn't be involved in any plan like this, but if it's considered ok, albeit a bit immoral, I'm not going to flame him for it.) On another note, I remember a plan my friend told me for making free money. Here at UCLA, and presumably other schools as well, if you overpay for tuition or any other school charges, they send you a check back for the extra amount. We are allowed to pay with credit cards. I'm sure you can all figure out the rest.

Of course, this is something I really don't suggest, unless $30 is worth more to you than your college admission.

[bluesbassman]

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You mean store credit?

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No, most electronic and music stores offer a full refund if the merchandise is returned within 2 weeks or 30 days.

[Dazarath]

Can you show me one that offers this? I believe Fry's offers a full refund in store credit. Best Buy charges a 15% restocking fee, as does CompUSA. Though, I *believe* CompUSA gives you back cash (or a check), but it's no good if you're losing 15% of your initial investment. And most of the time, "full refund" means full refund in store credit. Otherwise, it'd be quite abusable. Just use a cash back credit card.

[bluesbassman]

[ QUOTE ]
Can you show me one that offers this? I believe Fry's offers a full refund in store credit. Best Buy charges a 15% restocking fee, as does CompUSA. Though, I *believe* CompUSA gives you back cash (or a check), but it's no good if you're losing 15% of your initial investment. And most of the time, "full refund" means full refund in store credit. Otherwise, it'd be quite abusable. Just use a cash back credit card.

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I just returned a desktop PC to Staples, and I got a full and complete cash refund back to my credit/debit card; no restocking fee or store credit. I assume if I told them I had lost the card, they would have given me cash or a check.

The aforementioned HDTV, which I bought at Tweeter, also includes a full cash 30 day refund which I plan to use, since I have since found better TVs for about the same price. Again, they have promised a full refund without a restocking fee (I specifically asked them about that before I bought it.)

[Indiana]

U guys are all about small fries on this one. There are so many better ways to make much bigger cash.

Indy

[Thythe]

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U guys are all about small fries on this one. There are so many better ways to make much bigger cash.

Indy

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