How to build credit

[Henry17]

[ QUOTE ]
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.

[Thremp]

[ QUOTE ]
[ QUOTE ]
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.

[/ QUOTE ]

But aren't cash advances just a fraction of full credit limits?

For example mine is ~20%. Is this normal for these cards? Am I getting junky CCs? To make 6k a year on this plan seems like you need to pull down 500k of credit.