Revolving credit card scheme...

[OneSickPsycho]

Originally Posted by DLIT

So now you're only talking about using one credit card? How high do you think your limit will be?

Doesn't matter... I'm not using the rewards on the credit card... I'm exploiting the rewards my bank offers with it's debit cards... 100 debit cards (checking accounts) and one credit card...

Come to think of it, if I would spend $25k/yr on the credit card, I'd earn $250 in gift cards on that credit card... That would officially satisfy my goal of making money once it's all said and done...

[DLIT]

And what kind of rewards do you get from using your debit card so much?

[OneSickPsycho]

Originally Posted by DLIT

And what kind of rewards do you get from using your debit card so much?

$0.03 per transaction... hence me using increments of $0.03 to pay onto the CC...

[DLIT]

Originally Posted by OneSickPsycho

$0.03 per transaction... hence me using increments of $0.03 to pay onto the CC...

Hmmmm. I don't think web bill pay syncs up with your debit card though, you know what I'm saying? It comes directly from your checking.

[OneSickPsycho]

Originally Posted by DLIT

Hmmmm. I don't think web bill pay syncs up with your debit card though, you know what I'm saying? It comes directly from your checking.

It would be set up on my CC side... I have an option to automatically bill another credit card or cards... Not sure what the limitations are though...

[DLIT]

Originally Posted by OneSickPsycho

It would be set up on my CC side... I have an option to automatically bill another credit card or cards... Not sure what the limitations are though...

I think you're definately onto something, but I bet there's something in place to shoot it down. Proly already been thought of and blocked.

[Mudpuppy]

While I applaud your determination to beat the system and your dedication I am skeptical you will gain any benefit out of it. Most credit cards don't gain rewards through balance transfers. Most have a limit of how long a special interest rate applies. Most charge you a finance charge for the transfer. They are just set up to make money off you. There was a finite period of time that ranged from like 1990-2004 time frame where you could get some decent rewards. My father-in-law charges like $50,000 a year on his card and is the master of the reward system. But he is now bitching they have cut that way back. I think the best way to use them is to use them like cash from your checking account but you basically use the credit card company's money for 30 days and then pay it off. Its tricky though. I find that when I use plastic I am more likely to spend more. Shit I got $20,000 on this card so what if I spend an extra $100 on groceries - fuck it. Fuck it let's go to that 5 star restaurant for a nice meal. Its like monopoly money. Basically now I just use the one card for gas and groceries and pay it off every month - just have to be disciplined and treat it like cash because really it is. I get cash back that I use when I lease a new car - usually amounts to like $500-$600. Then I have another card that has special cash backs for different times of year - summer is like theme parks, gas, hotels, then fall is like home improvement, etc. etc. they give 5% back on any of those purchases but only up to like $400-$500. So I use that card for that type of shit that I would have paid cash for otherwise. Its extremely hard to beat the system. Hell if you can do it more power to you just share your secret when you crack the case.

[OneSickPsycho]

Originally Posted by Mudpuppy

While I applaud your determination to beat the system and your dedication I am skeptical you will gain any benefit out of it. Most credit cards don't gain rewards through balance transfers. Most have a limit of how long a special interest rate applies. Most charge you a finance charge for the transfer. They are just set up to make money off you. There was a finite period of time that ranged from like 1990-2004 time frame where you could get some decent rewards. My father-in-law charges like $50,000 a year on his card and is the master of the reward system. But he is now bitching they have cut that way back. I think the best way to use them is to use them like cash from your checking account but you basically use the credit card company's money for 30 days and then pay it off. Its tricky though. I find that when I use plastic I am more likely to spend more. Shit I got $20,000 on this card so what if I spend an extra $100 on groceries - fuck it. Fuck it let's go to that 5 star restaurant for a nice meal. Its like monopoly money. Basically now I just use the one card for gas and groceries and pay it off every month - just have to be disciplined and treat it like cash because really it is. I get cash back that I use when I lease a new car - usually amounts to like $500-$600. Then I have another card that has special cash backs for different times of year - summer is like theme parks, gas, hotels, then fall is like home improvement, etc. etc. they give 5% back on any of those purchases but only up to like $400-$500. So I use that card for that type of shit that I would have paid cash for otherwise. Its extremely hard to beat the system. Hell if you can do it more power to you just share your secret when you crack the case.

Next time read all of the posts before making me read all the way through that shit just to find that you didn't read the whole thread.

[Mudpuppy]

don't read it then fuckwad.. i read what i feel like and then comment like i feel like.. you don't like it then fucking block me or something.. wouldn't hurt my feelings.. i have yet to see you post something intelligent or worth reading anyways.. and in case you are thirsty here is a cup of shut the fuck up.. i am very convinced that you, being what a penniless not having a pot to piss in motherfucker who on your best year makes probably what $22,000 on the fry machine at mcdonalds, is WAY smarter than those fools at the major credit companies who make BILLIONS every fucking year - NOT!

[OneSickPsycho]

Originally Posted by Mudpuppy

don't read it then fuckwad.. i read what i feel like and then comment like i feel like.. you don't like it then fucking block me or something.. wouldn't hurt my feelings.. i have yet to see you post something intelligent or worth reading anyways.. and in case you are thirsty here is a cup of shut the fuck up.. i am very convinced that you, being what a penniless not having a pot to piss in motherfucker who on your best year makes probably what $22,000 on the fry machine at mcdonalds, is WAY smarter than those fools at the major credit companies who make BILLIONS every fucking year - NOT!

I don't post anything worth reading, yet 75% of your posts quote and or follow directly after mine... Hmmm....