@Anonymous wrote: Uhh, I got an idea ... purchase something big like ... a used car up to 8k and let it report, then PIF before the due date with auto loan from Navy Fed. Therefore, I will have high balance of 8k on it. What do you think everyone?
If you're going to do the car thing, just don't tell the dealer up front that you'll be using a credit card...he'll jack the price to cover the transaction fees.
A nice diamond cocktail ring would look good on you, bunnyrabbit! You can always go to your local jeweler and pick one out, pay for it with your card, but leave it at the store (you'll come back another day for the sizing). After your statement cuts, and the balance reports, you change your mind about the ring and get a refund to your card. Just make sure that there's no restocking fee, or any other fees for returns.
It would be better, of course, if your jeweler knows up front that you probably will not actually leave with that ring, and you'll be asking for a refund (i.e., do you have a friend who's a jeweler?)
Just a thought. 
Goodness, UB-UP, when'd you get so slick with diamond cocktail rings?? 
@haulingthescoreup wrote:Goodness, UB-UP, when'd you get so slick with diamond cocktail rings??
In my bachelor days, of course!
Never actually bought anything, but my "limits" got raised, nonetheless...
@Anonymous wrote:
@Anonymous wrote: Uhh, I got an idea ... purchase something big like ... a used car up to 8k and let it report, then PIF before the due date with auto loan from Navy Fed. Therefore, I will have high balance of 8k on it. What do you think everyone?If you're going to do the car thing, just don't tell the dealer up front that you'll be using a credit card...he'll jack the price to cover the transaction fees.
A nice diamond cocktail ring would look good on you, bunnyrabbit! You can always go to your local jeweler and pick one out, pay for it with your card, but leave it at the store (you'll come back another day for the sizing). After your statement cuts, and the balance reports, you change your mind about the ring and get a refund to your card. Just make sure that there's no restocking fee, or any other fees for returns.
It would be better, of course, if your jeweler knows up front that you probably will not actually leave with that ring, and you'll be asking for a refund (i.e., do you have a friend who's a jeweler?)
Just a thought.
@Anonymous wrote:Uhh, I got an idea ... purchase something big like ... a used car up to 8k and let it report, then PIF before the due date with auto loan from Navy Fed. Therefore, I will have high balance of 8k on it. What do you think everyone?Couldn't you just purchase something really big, that uses up your credit limit, let it report on the CR, then return it? You'd be out 0 interest too as long as you returned it before your next statement closing.
Thanks Ub-Up. It is god to know.
How does it look like and how big? Does the bunny looks good with it? or the diamond cocktail ring is look good on the bunny?
That is another way to do it, but there is a BIG ... HUGE problem. Where is 8k? If I am not wrong, I must PIF the balance amount by the due date to avoid the interest charge. Does the refund/credit will apply as payment? If it really apply as payments, I would like to do this on all of my eight ccs. So then, I have highest balance of close to the it's current CL and ready for the change ... to World MC or Signature VISA.
Just a thought, don't the vendor get stuck with the 2-3% swipe fee of that 8 grand?
I'm just party pooping, sorry 
@Anonymous wrote:Just a thought, don't the vendor get stuck with the 2-3% swipe fee of that 8 grand?
I'm just party pooping, sorry
Excellent point, and something that we often don't think about!
@haulingthescoreup wrote:
@Anonymous wrote:Just a thought, don't the vendor get stuck with the 2-3% swipe fee of that 8 grand?
I'm just party pooping, sorry
Excellent point, and something that we often don't think about!
I think if you return it and they credit the card back, the vendor is reimbursed those fees though. I believe this is how it works because in my office our Controller got mad at me once for refunding someone's fees via check when they originally paid by credit card, and the reason he gave was that we were charged the fees on the initial payment but weren't reimbursed the fees because we didn't refund the payment via credit card.
@haulingthescoreup wrote:
@Anonymous wrote:Just a thought, don't the vendor get stuck with the 2-3% swipe fee of that 8 grand?
I'm just party pooping, sorry
Excellent point, and something that we often don't think about!
It's $160 ~ $240. So the business owner pays this much amount at the time of 8K sale on the cc. When the customer returns the items, they refund 8k back to the cc. Which makes they did not have 8k sale. Do they (business owner) get the money (fee) back?
@Anonymous wrote:
@haulingthescoreup wrote:
@Anonymous wrote:Just a thought, don't the vendor get stuck with the 2-3% swipe fee of that 8 grand?
I'm just party pooping, sorry
Excellent point, and something that we often don't think about!
It's $160 ~ $240. So the business owner pays this much amount at the time of 8K sale on the cc. When the customer returns the items, they refund 8k back to the cc. Which makes they did not have 8k sale. Do they (business owner) get the money (fee) back?
If I'm not totally off my rocker in trying to remember this, I also think they get charged a return fee!