@longtimelurker wrote:
@TheFate wrote:
@Anonymous wrote:I think the fees for using credit cards outweigh the points you get at the end of it off. Maybe you're better off buying gold with your CC, sell that gold back, pay off your CC, and accumulate points
What fees?
You cannot, directly, pay say your Capital One card by entering your Chase credit card number, so you have to do it some other way. Some one example would be to get a convenience check from Chase and use that, similar to a balance transfer, but there are often (although not always) fees for this. Or, is in Slate, no rewards. But in theory if you have two cards with 0% APR for BT and no fee, forever, and gave rewards you could do that.
Otherwise you can use things like serve, which has low limits, or Bluebird, where loading with cards would have fees, or other similar bill pay derivatives. Generally, all these companies want to make money somehow
This.
Almost always this will get flagged as a Cash Advance anyway even if you could find a way to do it, and those fees are usually in the 3% range, identical to balance transfers in the fine print.
I won't debate the financial desirability for doing things as such as this, but simply state that from anecdotal experience (and direct experience having worked on the other side at a lender) Cash Advances are not likely your friend to begin with... and I'd have to be on the ropes financially to ever take one, and if they shut my card down as a result well that was likely the outcome anyway if I couldn't get my poop in a group in short order.
