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Today's a good day to be in a foul mood. by Illiad2007-08-08 16:21:34
  Today's mail was 6 pre-approved credit cards by DesertRat662007-08-08 16:51:14
    There was a web site that was linked to here by ChuckAB 2007-08-08 19:10:57
(I think) that proposed the following:

Note: This is from memory and I may have missed a point or two.
Note: This requires a great deal of discipline - if you miss ONE PAYMENT, you start having to pay interest and you'll lose any gains you might have made.
Note: I have NOT tried this - I'm not sure I have the discipline.

Apply for as many credit cards as possible in a very short time period - same day if you can. As it takes a few days for the credit bureaus to post pulls from credit companies, they don't see the sudden activity of all the pulls at one time.
Most of the time they offer no-interest "balance transfer checks/cheques" so you can pay off other credit cards.
Take cash advances for a significant percentage of the now available credit and deposit the money into an interest-bearing account.
Pay the new balances off with the balance transfer checks/cheques on the accounts that you DIDN'T take the advances from.

---===***START IMPORTANT PART***===---

Setup automatic payments from the interest-bearing account that has the cash advances deposited in it to make sure that you NEVER MISS A SINGLE PAYMENT.

---===***STOP IMPORTANT PART***===---

Close the now paid-off accounts.
Enjoy the interest off of THEIR money.
[ Reply ]
      and wreck your credit rating. (n/t) by plblark2007-08-09 06:10:50

 

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