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57047592 No.57047592 [Reply] [Original]

>apply for 21 month 0% intro apr on balance transfer card
>transfer $20k credit limit from current card at $0 balance
>balance now negative
>request bank to refund you to your checking account
>transfer $20k to Coinbase
>DCA crypto
>make minimum payments on card for 21 months
>cash out crypto, pay off, take plenty of profit

anons what is wrong with this plan if anything?

>> No.57047616

Hmmm

>> No.57047629

>>57047592
>anons what is wrong with this plan if anything?
you can't transfer a zero balance, nor would a zero somehow become negative

>> No.57047663
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57047663

>>57047629
you actually can. and your balance becomes negative.

>> No.57047897

need more opinions anon

>> No.57047925

pretty sure the bank calls ahead and asks the balance before they send the money, sounds based if you can pull it off though.

>> No.57047946

>>57047925
I accidentally put in two transfers to the same card instead of two transfers to two different cards and now I have a -$2000 balance on my one card
I honestly didn't know you could but I did and it's possible and this post have given me some devious thoughts

>> No.57047952

>>57047925
btw i just got the us banl platinum that has a 21 month 0apr for balance transfer and purchases. 12k limit. if i could buy crypto with it i would.

>> No.57047979

>>57047592
>make minimum payments on card for 21 months
Then get raped by interest in month 22. You have to pay it in full.
>t. Debtmaxxer
You are only turning your cash into something less liquid and very risky. I know 3 bros who had the same bright idea as you and are now in tons of debt kek. Sorry jewz going to need to actually work and not worm.

>> No.57048009

>>57047979
yes retard thats the point is you pay it back before interest kicks in and its pretty much a free loan. just because your friends are retarded doesnt mean everyone is.

>> No.57048028

>>57048009
Op is desiring to pay the minimum amount, not oay it back in full before 21 months. His pay off step is after the crypto. Op is dumb and doing exactly what one of the retards did too kek

>> No.57048039

>>57047952
>banl
Bank
>>57048028
>oay
Pay
I hate touchscreens fren. I really do.

>> No.57048068

>>57048028
yes you make minimum payments until you decide you want to pay it off (before the 0apy period) and you are supposed to pay it back right before the end of that so you fuck over jews to the max. i have a card i currently owe 3500 on that i could pay back right now but im going to continue to minimum pay it until the month before i will owe interest. im not only doing it to keep that money in my hands an not the jews but also because credit scores are retarded and you will lose points for holding no debt.

>> No.57048095

>>57048028
Op here
No, would pay it off asap. Or transfer the balance again

>> No.57048172

>>57048095
>>57048068
I should have specified that you dont want to leave yourself a lump sum. Obviously take advantage of the free loan but the reason why high credit apr exists is because people gamble paying the least they can instead of budgeting proper sized payments. Paying it off in full makes no sense at all, thats not what i was implying. Also when you transfer to a bank account that incurs apr right off the bat