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  #101  
Old 11-30-2007, 01:23 PM
Thremp Thremp is offline
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Default Re: How to build credit

Noah,

I was being sarcastic. I don't really feel any ethical qualms about it. If you feel you need the money to improve your life and can live with the relatively minor ethics of it, thats fine. I find the whole thing dubious and not really worth my time to deal with.

And yes, I do line shop and bonus whore. Kids gotta eat.

blue,

Is there any rule of thumb for that? Like if you pay them off each month and make 60k a year... Are you looking at being able to eventually borrow 400k+ on CC?
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  #102  
Old 11-30-2007, 01:31 PM
bluef0x bluef0x is offline
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Join Date: May 2005
Location: Sacramento
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Default Re: How to build credit

[ QUOTE ]
[ QUOTE ]
Tell me Henry, have you ever refused to purchase a car/house/condo/anything because you wanted to pay more money for the same thing?

[/ QUOTE ]

Yes. Many times. I'll pay a premium to be 100% certain that the item I'm buying is neither hot nor a knock-off. I will also pay a premium for better service. I'll pay a premium to not have to deal with other people. I also will not use a coupon under any circumstances.

I see this as similar to going to a chain restaurant where they give you free stuff on your birthday. If you are in university and do this fine. If you are well off and do this then that is pathetic.

[/ QUOTE ]

I said for the SAME THING. You are sure the product is the exact same. Process would be the same as well.
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  #103  
Old 11-30-2007, 01:36 PM
bluef0x bluef0x is offline
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Join Date: May 2005
Location: Sacramento
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Default Re: How to build credit

[ QUOTE ]
Ok but at some point you have 20 cards with I assume 50% utilization so that you can still maintain a decent debt to credit ratio. Now the introductory period ends. You need to find new credit cards to transfer all of this to but you already have 20 credit cards. How long can someone keep this up?

How can someone really not be embarrassed about having 40+ credit cards?

[/ QUOTE ]

I think you are confused, you don't have to continue anything. You can stop once the introductory period ends.. just withdraw all your invested money and pay off the credit cards. You keep the 5-6% interest.

Someone isn't embarrassed by having 40 credit cards because no one is forcing you to walk outside with a 7" thick wallet. I have about 6-7 credit cards and only use one, the rest are stored away. The one I do use gets 5% off most purchases, it's much more convenient and smart to use a credit card over cash.

For some reason you believe everything you do is public knowledge and that other people's opinions matter. You are insane.
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  #104  
Old 11-30-2007, 01:49 PM
Henry17 Henry17 is offline
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Join Date: Aug 2007
Posts: 1,285
Default Re: How to build credit

[ QUOTE ]
I think you are confused, you don't have to continue anything. You can stop once the introductory period ends.. just withdraw all your invested money and pay off the credit cards. You keep the 5-6% interest.

[/ QUOTE ]

I thought the point of this was to continue to do it in perpetuity or until you couldn't get any more credit.

If someone is doing it for only one cycle, the 5-6% return for an introductory period of 6 months is even less money. I'm going to have all these credit cards on my credit report to make chump change. I thought people could keep this ponzi-lite going for 2-3 years.

[ QUOTE ]
or some reason you believe everything you do is public knowledge and that other people's opinions matter. You are insane

[/ QUOTE ]

You'd be surprised how easy it is for information to get out.

Other people's opinion do matter. I've walked away from dealing with people because they wore a fake Rolex, because they tried to sneak into a club without paying cover, because they did something similar to this. Your personal reputation is the equivalent of goodwill. Risking the possibility that your reputation might be damaged to get a interest free loan for 6 months is insane.
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  #105  
Old 11-30-2007, 04:21 PM
XXXNoahXXX XXXNoahXXX is offline
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Join Date: Jun 2005
Location: Boston
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Default Re: How to build credit

Henry,

What would your neighbors think if they knew that instead of hiring a computer technician you asked for assistance in the tech forum of a free poker website! Instead of going to a nutritionist or other specialist you bring your supplement queries to health and fitness!

If I were you, I'd get an admin to nuke those threads before a neighbor stumbles across them and realizes how cheap and lazy you are!
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  #106  
Old 11-30-2007, 04:44 PM
Henry17 Henry17 is offline
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Default Re: How to build credit

lol .. you know you have struck a nerve with someone when they feel the need to research you. Why don't you get an admin to give you my name then you can google me.

For a very reasonable fee you can even have me followed. It is remarkably affordable.
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  #107  
Old 11-30-2007, 05:16 PM
Jimbo Jimbo is offline
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Join Date: Sep 2002
Location: Planet Earth but relocating
Posts: 4,376
Default Re: How to build credit

[ QUOTE ]
lol .. you know you have struck a nerve with someone when they feel the need to research you. Why don't you get an admin to give you my name then you can google me.

For a very reasonable fee you can even have me followed. It is remarkably affordable.

[/ QUOTE ]

I did it for him. Honestly thought you were a bit older. [img]/images/graemlins/smile.gif[/img]

Henry17

Jimbo
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  #108  
Old 11-30-2007, 05:30 PM
bluef0x bluef0x is offline
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Join Date: May 2005
Location: Sacramento
Posts: 2,295
Default Re: How to build credit

[ QUOTE ]

I thought the point of this was to continue to do it in perpetuity or until you couldn't get any more credit.

If someone is doing it for only one cycle, the 5-6% return for an introductory period of 6 months is even less money. I'm going to have all these credit cards on my credit report to make chump change. I thought people could keep this ponzi-lite going for 2-3 years.

[/ QUOTE ]

No one is forcing you to do it until for eternity. When you decide to stop, or can't continue, then you cash out your investment and pay off the cards. All those credit cards on your credit report can be a GOOD thing. You continue to display your ignorance of credit.

[ QUOTE ]

You'd be surprised how easy it is for information to get out.

Other people's opinion do matter. I've walked away from dealing with people because they wore a fake Rolex, because they tried to sneak into a club without paying cover, because they did something similar to this. Your personal reputation is the equivalent of goodwill. Risking the possibility that your reputation might be damaged to get a interest free loan for 6 months is insane.

[/ QUOTE ]

Sneaking into a club to avoid cover is nowhere close to being smart and resourceful with credit. You couldn't come up with any more of a polar opposite analogy.

Sneaking into a club = illegal, unethical, and an indicator of bad character.
Knowing how credit works = legal, ethical, and an indicator of intelligence.

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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  #109  
Old 11-30-2007, 05:33 PM
bluef0x bluef0x is offline
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Join Date: May 2005
Location: Sacramento
Posts: 2,295
Default Re: How to build credit

[ QUOTE ]
lol .. you know you have struck a nerve with someone when they feel the need to research you. Why don't you get an admin to give you my name then you can google me.

For a very reasonable fee you can even have me followed. It is remarkably affordable.

[/ QUOTE ]

Why would you register to a gambling forum with your real name? You sure are an idiot for being so paranoid and then failing to protect your identity.
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  #110  
Old 11-30-2007, 05:42 PM
Thremp Thremp is offline
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Default Re: How to build credit

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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