Turning credit into cash

[Soso0]

Here's an idea based on a previous idea I had which only involved one credit card. So lets say you own 5 credit cards with a maximum credit limit of 5k each. Assuming you haven't spent any credit yet you start out with 25k to spend. Use the 25k to purchase easy to sell electronics, clothing, etc. Then either via online or in person sell the new unopened items for a total loss of lets say 5%. You could end up with $23,750 profit maybe a little less depending on if you lower the price of items in order to get rid of them quicker.

Would it be more efficient to do this with big ticket items? You'll go from having virtual non existent money to cold hard cash. Of course after that it would probably be a good idea to invest the cash into a commodity in a foreign country. The only downside about this is that when you first open up a credit card they don't give you 5k to spend right out the bat it's usually more like 1k. Are there any credit cards that give you a high credit limit from the beginning?

[Autodidact]

Fucking your credit is a good idea

[Rizzo in a box]

Fucking your credit is a good idea

fucking someone else's credit is a better idea

[Controversialrogue]

Sounds like it could work. I wouldn't expect to only lose 5%, i would say it would be more around 15%.

[Soso0]

Fucking your credit is a good idea

Sure is if you don't give a fuck about it. Why are people so worried about their credit, must feel good to feel enslaved.

Sounds like it could work. I wouldn't expect to only lose 5%, i would say it would be more around 15%.

It would still be a decent amount of cash

[Slappy]

My buddy is a crackhead and life-long con artist. He picked up this girl from a rich family, got her hooked on crack, and talked her into conning her aunt for a credit card in her name. $10k limit, lol. Anyway, he bought mainly laptops at a good price and was able to sell them at a small loss. This guy smoked so much crack his apartment had this burnt chore-boy smell to it, I think he blew that money in a month.

edit: Same guy nailed Appleby's for $15k with a payroll program from staples or office max, he got the acct# off somebody's paycheck and printed out his own.

[Freegamer]

Fucking your credit is a good idea

Sure is if you don't give a fuck about it. Why are people so worried about their credit, must feel good to feel enslaved.

while i agree, keep in mind that everything is affected by your credit.  house, cell phone, tv, job, car.  anything you can buy can be denied to you if your credit is fucked.

[-SpectraL]

Western Union Money Transfer service over the phone with Visa or Mastercard.

[RestStop]

On all three of my credit cards you can get cash advances, but it's only 50% of the available limit aka if your limit is 1,000 you can only get $500 cash, less if you already spent $100 on it, would only be able to get $450 cash etc..

Your best bet here is to apply for virtually any capital one card, they determine your limit on your income(lie here, I said 55k a year and only got $800 limit). Actually, scratch that, get a credit card, pay the bill in full 2 or 3 times, then go to one of those peer to peer lending sites, you may not be able to get 25k or whatever, but It'll be alot more then the 500-1,000 that most credit card companies will give you off the start.

I'd say you could probably get 10 grand if your credit isn't already fucked and you follow everything I said here, best of luck.

[MoaningLisa]

tools always have a good return. if you are a student, you get 55% off Snap On tools.

if you pay 45% of the price, and sell it 15% under sale price, you come out ahead. even if you have to spend $700 on a community college class to be a student, that would be the best way to move $25k from credit to cash.

imho.

[Lrgguru]

Western Union Money Transfer service over the phone with Visa or Mastercard.

Will western union allow you to use gift cards too?

[-SpectraL]

Western Union Money Transfer service over the phone with Visa or Mastercard.

Will western union allow you to use gift cards too?

Just Visa, MasterCard and Discover.

[Lrgguru]

So no visa gift card?

[-SpectraL]

So no visa gift card?

No. That would look incredibly suspicious anyways.

[Daran]

Buy a square card reader and configure transactions to deposit to your paypal account. Then swipe your credit cards and get the money into your paypal acct with minimal fees and hassle.