#11
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Re: How to build credit
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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. |
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