I started a new thread for you for better exposure.
Probably don't even need 5 cards to have 25k limit.. Maybe 2 -3 will get you there lol
@johnpalley wrote:i know but whats the quickest way i can get this money to the brokerage guys? is there any trick i dont know about? id like to get this done in no more than 7 days if possible after i get the cards. i got an account with interactive brokers
If you've been waiting 8 years for this app spree, and you have a lock on a sure thing in the stock market, why don't you have savings and trading gains to use already?
@johnpalley wrote:i just wanna stick to the subject guys. every time i start a thread it starts to go off in all sorts of other directions. dont want that happening in this thread im just tryin to get some info please
Ok, so you are going to app for 6 cards with 0% APR. They will arrive in, most likely, between 7 calendar days and up to 20 calendar days.
Activate the cards. Start with the first cash advance on the Barclay card. How much is your limit on the Barclay card? The amount needs to arrive and settle from the Barclay card into your checking account, the transfer will take 3 days, and I doubt you can expedite such a transfer like you can with a true cash bank to bank transfer between your own accounts.
So you've got limit #1 on Barclays (I'm presuming you aren't going to go 90% on the Barclays card?) and you'll probably want to let that set for 3 to 5 days.
Then execute the first BT from one of your newly activated cards. That BT will probably take at least a week, and depending on the bank it could take 3 weeks, you most likely won't know going in, since all the BT offers tell you to continue to pay on your old account until the old account statement shows the BT was done.
After the couple of weeks to do that first transfer, when Barclays takes a breath, you need to think about how long until you take cash advance #2. In the Barclay Ts&Cs, are there any stipulations about how often you can take these cash advances? 1 per statement cycle maybe? Do you have to pay the fees on the first advance betore taking another? Does Barclay do an instant report to your credit file if you take a cash advance? Does the first card you transfer to do an instant report to your credit file, not waiting for the first statement to cut, since you instantly have a balance?
ok, past cycle 1, you do the 2nd cash advance. That takes 3 days to get to your checking account, and during that time you let it rest on the Barclay CC. You wind up the next card to do a BT off the Barclay card, and that takes anywhere from 1 to 2 to 3 weeks, depending on the bank. The barclay card is relieved again, and you (presuming there is no wait time) do round 3.
I hope I'm getting through that this is not a 7 day adventure.
Have you ever traded in the stock market before? Successfully? It's not an off topic question, because Mr. Market will gladly take all your $25k and give you $#!+ in return. And oh by the way, you'll still have $25k in outstanding credit card balances to pay down.
Good luck!