Credithopping with two card?

[Anonymous]

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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?

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

[Anonymous]

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wrote:

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So, is this doable?

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

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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.

[Anonymous]

"MS"?  What does that mean?

[simplynoir]

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wrote:

"MS"?  What does that mean?

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Manufactured Spending

[arkane]

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

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

[Moneyklutz]

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wrote:

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

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

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Only if you're elected to Congress... 

Oh darn, I went there didn't I?

[arkane]

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