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#1
11-28-2007, 11:13 PM
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Re: How to build credit
[ QUOTE ]
It isn't just me. When this topic was discussed before I actually brought it up to get some opinions from my friends and they agreed. Pathetic might not have been the best choice of words but it is certainly bottom feeder behaviour. To get involved in all this for an extra $6k a year isn't worth it. [/ QUOTE ] henry, 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. an extra 6k this year is an 'extra' 50k 25 years from now. the fact that it is 'extra' money makes it even more appealing. also if anybody 'found out' i was doing this and looked down on me i would just assume they are an idiot. 
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#2
11-29-2007, 02:37 AM
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Re: How to build credit
[ QUOTE ]
[ QUOTE ] It isn't just me. When this topic was discussed before I actually brought it up to get some opinions from my friends and they agreed. Pathetic might not have been the best choice of words but it is certainly bottom feeder behaviour. To get involved in all this for an extra $6k a year isn't worth it. [/ QUOTE ] henry, 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. an extra 6k this year is an 'extra' 50k 25 years from now. the fact that it is 'extra' money makes it even more appealing. also if anybody 'found out' i was doing this and looked down on me i would just assume they are an idiot. [/ QUOTE ] I'll take Henry in this for 5k even money. Also since most people owe money. Doesn't just having a + NW put you in atleast the top 50% of non-dependents?
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#3
11-29-2007, 05:32 AM
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Re: How to build credit
[ QUOTE ]
[ QUOTE ] [ QUOTE ] It isn't just me. When this topic was discussed before I actually brought it up to get some opinions from my friends and they agreed. Pathetic might not have been the best choice of words but it is certainly bottom feeder behaviour. To get involved in all this for an extra $6k a year isn't worth it. [/ QUOTE ] henry, 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. an extra 6k this year is an 'extra' 50k 25 years from now. the fact that it is 'extra' money makes it even more appealing. also if anybody 'found out' i was doing this and looked down on me i would just assume they are an idiot. [/ QUOTE ] I'll take Henry in this for 5k even money. Also since most people owe money. Doesn't just having a + NW put you in atleast the top 50% of non-dependents? [/ QUOTE ] oh well then color me surprised that somebody with such a silly outlook on the accumulation of money (zomg what will others think) actually has a lot of it. then again, i probably shouldn't make assumptions.
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#4
11-29-2007, 05:41 AM
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Re: How to build credit
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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#5
11-29-2007, 07:08 AM
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Re: How to build credit
Still not understanding how this can work. Cash advances generally don't fall into all of this 0% stuff right?
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#6
11-29-2007, 07:55 AM
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Re: How to build credit
[ QUOTE ]
Still not understanding how this can work. Cash advances generally don't fall into all of this 0% stuff right? [/ QUOTE ] balance transfer...either to a credit card or directly to your bank account. if its a credit card, say request 10k be sent to card A...Card B (the one with the 0% balance xfer) sends the 10k to card A and gives you 0% for 12 months to pay it back. you then have a positive balance on card A and request it be sent to you....kinda like you overpaid somehow by 10k and want it back...its not an issue with the majority of cards, they just send it to you. sometimes card B will even send you a check directly. you then invest the 10k in whatever and make min payments for 11 months and pay it off completely before the 12 months is up...the interest earned is yours. however the side effects are people who get your mail (and open it!) will think you are a bottom feeder. my explanation is kinda meh, you can google for better. im sure you get the idea though.
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#7
11-29-2007, 08:13 AM
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Re: How to build credit
You can balance transfer to a card with $0 balance and request a check sent to you? My Chase card doesn't seem like that'd fly with them as they throw a fit if I try to overpay at all online.
You can do a balance transfer with the money to a bank account? It's beginning to make a bit more sense, but some of the details don't quite make sense to me.
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