Yeah, staying clear of CC reporting bleed-throughs. I know the inquiries bleed, but I don't want the cards showing on my personal.
Here's stacking in a nutshell. You need $9k to start your glow-in-the-dark hoverboard business. You end up finding 2 or more Biz (or personal) CC's that offers 0% APR intros: 1) $4,000 2) $5,000. You've stacked the two to equal your $9k. Maybe you'll need 5 CC's = $9k. It depends. The big boys look for $50k to $150k by stacking 4 to 5 CC's.
I did make an assumed knowledge leap when I equated no interest payments to no consequences. There are still minimum payments due. You just don't get penalized for carrying the balances.
Check that.
I did make an assumed knowledge leap when I equated no interest payments to no consequences. There are still minimum payments due each month. You just don't get penalized for carrying the balances during the intro period.
@GApeachy wrote:Sorry no answer because Idk what you mean by "Funding". Would you or anyone explain this to me? I've seen this mentioned before.
Funding: getting access to money for free (or not) for a time period. Almost like a grant. 18 mos 0% APR on a $10K credit line. Invest that $10K w/o consequence for up to 20 months before it's due for repayment. Even on 0% BT APR to cover another card's debt may only cost you up to a 3% fee on the transferred amount...cheap money.
@GApeachy wrote:Lol! Never heard of CC stacking either. Guess it's not anything I need to know I suppose just curious as to what, when, why, and how.
Here's stacking in a nutshell. You need $9k to start your glow-in-the-dark hoverboard business. You end up finding 2 or more Biz (or personal) CC's that offers 0% APR intros: 1) $4,000 2) $5,000. You've stacked the two to equal your $9k. Maybe you'll need 5 CC's = $9k. It depends. The big boys look for $50k to $150k by stacking 4 to 5 CC's.
@GApeachy wrote:
@LP007 wrote:18 mos 0% APR on a $10K credit line. Invest that $10K w/o consequence
I figured maxing out a cc for that many months would have at least one consequence if not a snowball effect. Interesting.
Check that.
I did make an assumed knowledge leap when I equated no interest payments to no consequences. There are still minimum payments due each month. You just don't get penalized for carrying the balances during the intro period.
@WayneSki wrote:
@LP007 wrote:Who's hip to this game for funding moves? What are the best 0% APR 0% BT CC's with the best approval chances? I'm looking at
1) Ink Business Cash Credit Card
2) Discover it Business Card
3) BBVA Compass Business Rewards Credit Card
4) U.S. Bank Business Cash Rewards World Elite Mastercard
5) U.S. Bank Business Platinum, 6) PNC Visa Business Credit Card
6) PNC Visa Business Credit Card.
Scared of Ink due to my BK.
Are you talking about credit card stacking?
When was your bankruptcy?
Si, stacking. My BK file date is in my sig line: Nov '11.
@Anonymous wrote:First of all, does it matter if a BIZ CC reports to personal CB's? Because Discover does.
Yeah, staying clear of CC reporting bleed-throughs. I know the inquiries bleed, but I don't want the cards showing on my personal.