topic Re: Credithopping with two card? in Credit Cards

Credithopping with two card?

Anonymous — Mon, 05 Feb 2018 13:54:15 GMT

Hey,

I just recently got into the world of credit cards and everything surrounding them. One thing that caught my attention was credithopping.

I have now read a little bit about it, and one thing crossed my mind: Are you able to credithop with two credit cards?

Alright, so let's assume I have two cards, one American Express and a Supreme Card.

Between jan and feb, I spend 500$ on my Amex.

I then recieve the bill and now have a few days of paying the bill, interest-free of course.

I then pay this bill of 500$ with my Supreme Card. The bill from amex is now paid, and I get a new bill from Supreme Card instead.

So, when the bill arrives from Supreme Card, I pay this one with my Amex.

Thus, repeating the whole process all over again.

This means I have now "borrowed" 500$ interest-free, where I do not really pay the money back until I have stopped the credithopping?

The reason why I chose Amex and Supreme Card is only for example purposes. If their terms does not allow this and other credit card does, please then let me know.

So, is this doable?

Re: Credithopping with two card?

SBR249 — Mon, 05 Feb 2018 14:43:09 GMT

No, I don't know of any company that will let you pay your bill with a credit card. In fact, very few will even let you pay with a debit card or prepaid card and that's basically equivalent to cash.

Re: Credithopping with two card?

Anonymous — Mon, 05 Feb 2018 15:18:19 GMT

Supreme Card? Are you in the US?

I've heard of people hopping between BT's each year (not that it's a great idea), but not on a monthly basis because they simply don't accept CC as a CC payment.

Re: Credithopping with two card?

FinStar — Mon, 05 Feb 2018 16:46:19 GMT

Instead of "credit hopping" perpetually why not just pay the bill 😁

Re: Credithopping with two card?

UpperNwGuy — Mon, 05 Feb 2018 16:54:32 GMT

Can't be done. Don't waste your time thinking up ways to cheat the banks. The banks are smarter than you are and will block you from doing that.

Re: Credithopping with two card?

Anonymous — Mon, 05 Feb 2018 17:01:32 GMT

If they let you do it at all they'll likely treat it as a balance transfer or cash advance with added fees + interest with no grace period. In short, it won't work.

Re: Credithopping with two card?

Anonymous — Mon, 05 Feb 2018 17:27:23 GMT

Even if it were possible AMEX would shut you down very quickly. They have policies against MS, and would notice the same $500 reoccuring fee.

Re: Credithopping with two card?

Anonymous — Mon, 05 Feb 2018 18:20:56 GMT

Imagine the amount of cash back if we can pay credit card debts with credit cards!

Re: Credithopping with two card?

MrDisco99 — Mon, 05 Feb 2018 20:37:46 GMT

The golden rule of maximizing credit card benefits is to pay your bill. If you can’t do that then you’re better off sticking to cash/debit for everything.

Re: Credithopping with two card?

NRB525 — Mon, 05 Feb 2018 20:52:58 GMT

OP welcome to the forums.

I am interested to know where you picked up the term “credit hopping”.

As as noted by others, it will not be posssible in the sequence you mentioned.

Re: Credithopping with two card?

Anonymous — Mon, 05 Feb 2018 21:24:59 GMT

wrote:
Hey,

I just recently got into the world of credit cards and everything surrounding them. One thing that caught my attention was credithopping.
I have now read a little bit about it, and one thing crossed my mind: Are you able to credithop with two credit cards?
Alright, so let's assume I have two cards, one American Express and a Supreme Card.
Between jan and feb, I spend 500$ on my Amex.
I then recieve the bill and now have a few days of paying the bill, interest-free of course.
I then pay this bill of 500$ with my Supreme Card. The bill from amex is now paid, and I get a new bill from Supreme Card instead.
So, when the bill arrives from Supreme Card, I pay this one with my Amex.
Thus, repeating the whole process all over again.

This means I have now "borrowed" 500$ interest-free, where I do not really pay the money back until I have stopped the credithopping?
The reason why I chose Amex and Supreme Card is only for example purposes. If their terms does not allow this and other credit card does, please then let me know.

So, is this doable?

Nope. You have to pay credit cards from a checking account. ACH, check, or cash. etc.

Re: Credithopping with two card?

Anonymous — Mon, 05 Feb 2018 22:15:16 GMT

wrote:
So, is this doable?
Nope. You have to pay credit cards from a checking account. ACH, check, or cash. etc.

It's not doable sustainably, and certainly not with just two cards, but parts of it can work for a while. With a 0% $0 fee BT AND one that gives a check to deposit, you basically use some of the CC credit line to put money in a checking account, which you can then use to pay another CC. And, as mentioned, a handful of companies will allow you to use debit cards to pay, which you can buy with a credit card. But you (generally) don't get 0% $0 fee BTs on one card for ever, and almost certainly not on two cards forever, so at best you would have a string of cards that you swap in and out as the right top of offers appear. But these probably wouldn't coincide with the times you needed to pay the credit card, and anyway, the rewards are small.

Re: Credithopping with two card?

Anonymous — Tue, 06 Feb 2018 01:53:54 GMT

"MS"? What does that mean?

Re: Credithopping with two card?

simplynoir — Tue, 06 Feb 2018 02:02:29 GMT

wrote:
"MS"? What does that mean?

Manufactured Spending

Re: Credithopping with two card?

arkane — Tue, 06 Feb 2018 03:16:24 GMT

wrote:
Imagine the amount of cash back if we can pay credit card debts with credit cards!

Wait you're telling me paying down debt with more debt doesn't work???

Re: Credithopping with two card?

Moneyklutz — Tue, 06 Feb 2018 04:20:45 GMT

wrote:
wrote:
Imagine the amount of cash back if we can pay credit card debts with credit cards!
Wait you're telling me paying down debt with more debt doesn't work???

Only if you're elected to Congress...

Oh darn, I went there didn't I?

Re: Credithopping with two card?

arkane — Tue, 06 Feb 2018 04:28:09 GMT

All good, that's what I was going for anyway.