Recruiting Forum Football Talk IV

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#177,155
#177,155
I’ve got a headache, and can’t think it through, but theoretically, could a person have 12 credit cards, using one each month to pay off the previous month, acquiring points/miles/ etc at an artificial rate and just keep leveraging the debt for profit?

I’m on little sleep, no caffeine and sitting in an airport, so basically, someone just show me why this doesnt make sense
 
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#177,156
#177,156
nicksjuzunk said:
I’ve got a headache, and can’t think it through, but theoretically, could a person have 12 credit cards, using one each month to pay off the previous month, acquiring points/miles/ etc at an artificial rate and just keep leveraging the debt for profit?

I’m on little sleep, no caffeine and sitting in an airport, so basically, someone just show me why this doesnt make sense
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one of my College buds, a trust fund recipient has done this for years. Dude talked of acquiring a MBA for years, despite scoring nearly perfect on his GMAT. Never could get the ship up off the deck. You can def have all the brains in the world, but no get up.

Anyway, he travelled everywhere. Saw the cards once. Dude would have made a great evil genius. Everything is a scheme, would buy clothes stateside then double his money overseas.
 
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#177,157
#177,157
nicksjuzunk said:
I’ve got a headache, and can’t think it through, but theoretically, could a person have 12 credit cards, using one each month to pay off the previous month, acquiring points/miles/ etc at an artificial rate and just keep leveraging the debt for profit?

I’m on little sleep, no caffeine and sitting in an airport, so basically, someone just show me why this doesnt make sense
Click to expand...
Credit card companies and the banks behind them won't exchange credit for credit.

When you go to pay off your credit card, it usually says (At least mine do) that they only accept check or direct transfer.
 
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#177,158
#177,158
nicksjuzunk said:
I’ve got a headache, and can’t think it through, but theoretically, could a person have 12 credit cards, using one each month to pay off the previous month, acquiring points/miles/ etc at an artificial rate and just keep leveraging the debt for profit?

I’m on little sleep, no caffeine and sitting in an airport, so basically, someone just show me why this doesnt make sense
Click to expand...
I'm not sure I've ever had a CC that could get paid off by another CC. It's always been a bank draft.

You COULD do a cash advance off the next card, but interest begins right away, so it wouldn't be worth it.

Or maybe you've found a way to break the entire financial system and this is the end as we know it...
 
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#177,159
#177,159
Ten_Titans said:
Credit card companies and the banks behind them won't exchange credit for credit.

When you go to pay off your credit card, it usually says (At least mine do) that they only accept check or direct transfer.
Click to expand...
The loophole being the minimum balance allowable.

One days have to pay it off at some point, or the gig is up.
 
#177,163
#177,163
tomq_123 said:
I have a Ryzen 3600 with 32GB 3200Mhz RAM, 2TB Nvme SSD. Love what AMD has done with the Zen cores. especially tbe VCache packaging. Although, I’m a bit biased, I worked for AMD in the early 2000’s and have a soft spot for them.
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Recently decided on an NVidia card for my build that I’m going to do, but when comparing the different models that AMD and NVidia have rolled out it was a close call. They both have pushed out some great new cards and features as of late and that healthy competition has made both companies better.
 
#177,167
#177,167
nicksjuzunk said:
I’ve got a headache, and can’t think it through, but theoretically, could a person have 12 credit cards, using one each month to pay off the previous month, acquiring points/miles/ etc at an artificial rate and just keep leveraging the debt for profit?

I’m on little sleep, no caffeine and sitting in an airport, so basically, someone just show me why this doesnt make sense
Click to expand...

Best way to get points/miles is to open new cards when they are offering big sign up bonuses. It’s usually a spend x amount of money in x amount of months to instantly get x amount of points. I recently just did an AMEX promotion to spend 4k in the first 6 months to get 75k points. For reference, before I signed up I looked at flights on different airlines that all partner with AMEX and I found a flight where my wife and I could both fly to London in Business class and have 4 days covered in a hotel and only pay taxes on the ticket and stay. The points were just under 100k for that. If you can be flexible with your dates of travel you can find some incredible deals with points and certain card companies partner with different airlines so you can transfer your points to that airline account.
 
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#177,172
#177,172
nicksjuzunk said:
I’ve got a headache, and can’t think it through, but theoretically, could a person have 12 credit cards, using one each month to pay off the previous month, acquiring points/miles/ etc at an artificial rate and just keep leveraging the debt for profit?

I’m on little sleep, no caffeine and sitting in an airport, so basically, someone just show me why this doesnt make sense
Click to expand...
Only the government can do that. Did you win a national election you didn't tell us about?
 
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