/biz/ - Business & Finance

[Anonymous No.17016162]

I just got approved for a credit card with a $20k limit. What should I spend it on?

[Anonymous No.17016183]

withdraw it all, put it on black, free $20k. Then never gamble again (this is the most important step)

[Anonymous No.17016186]

>>17016162
Link

[Anonymous No.17016196]

RSR, iExec, FTM, BSV, Kleros, XRP

[Anonymous No.17016208]

>>17016183
what should he do if it lands on red though

[Anonymous No.17016218]

>>17016208

Move to Thailand and start a new life with a new name

[Anonymous No.17016229]

>>17016162
well obviously you should not spend any money that you weren't already going to spend anyway

the only responsible way to use a credit card is to pay off the full balance every month and use it to generate free airline miles or 2% cash back when spending the money you were already going to spend

if you run up a bunch of charges on your credit card and don't pay off the full balance every month, and then you end up paying up to 35% interest on your debt, you're basically just giving your money to people like me (and also the big banks)

[Anonymous No.17016234]

>>17016208
pay the minimum every month for your debt, in the meantime get approved for another card and cash out. smuggle every penny out of the country (not that hard if you have an iq above 10 ) then live your days as an outcast in southamerica.

[Anonymous No.17016236]

if you're a gambler, short TSLA, pay back the 20k, and keep the profit.

[Anonymous No.17016253]

>>17016162
go to taco bell and buy every item on the menu.
buy a box of fruit roll ups and make one giant one and eat it.

[Anonymous No.17016255]

>>17016229
and before anyone says something about running up a $20k balance and then defaulting and walking away, banks will sue you for credit card debts of as little as $5k, maybe even lower (it's been a while since I worked in the industry), so you'd need to flee the country or otherwise hide your assets from the government to avoid paying back the money.

[Anonymous No.17016270]

>>17016255
oh, and after eight years when the debt gets written off, you'll owe the federal government income taxes on the $20k of written-off debt, so don't think it's safe to come back even after the bank writes off the debt

[Anonymous No.17016276]

>>17016255
All that for 20k? Fucking poorfags lmfao

[Anonymous No.17016280]

>>17016208
declare bankruptcy and wait anther 4 years until you can get a new credit card

[Anonymous No.17016300]

Cash advance

[Anonymous No.17016302]

>>17016270
20k is below poeverty line. if you are a NEET who uses up 20k of CC debt there is no taxes to pay. also banks will not get shit if you have no house or job to withdraw wages from

[Anonymous No.17016328]

Everyone ITT acting like it’s so easy to just withdraw the 20k as if it were literal cash? How do I do this? I don’t think the cash advance can go up to $20k or am I mistaken?

[Anonymous No.17016430]

>>17016162

A monster box (or two) of American Silver Eagles

[Anonymous No.17016541]

>>17016280
you would need at least ten years to build up your credit enough to get another card with a $20k limit... at least.
>>17016302
good point, though theoretically if you own a house the court could force you to sell it so you can make good on your court-ordered payment -- you'd basically need to have no assets and live in someone else's house
>>17016328
even if they don't let you do a cash advance of $20k, you can just launder the money through gift cards or PredictIt or something

[Anonymous No.17016606]

>>17016328
Wouldn’t a bunch of Venmo or PayPal payments to yourself work. Or buy Visa gift cards

[Anonymous No.17016623]

>>17016162
Don't spend it. Invest it.

[Anonymous No.17016660]

>>17016328
see >>17016430

literally buy 20k worth of something thats easy to sell

[Anonymous No.17016664]

>>17016162
buttcorns