Returned Purchases

[Anonymous]

i was at a seminar on building credit and someone in the crowd mentioned a way he built credit ... He would buy something before the credit card reports to the CRA's and then return the item the next day which demonstrates at the next report to the CRA's that the bill was paid.... but won't the credit card company close the card if they see you doing this all the time? Is this something you do every once in a while commingled with other purchases... Ideas ? Thoughts?

[Anonymous]

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@Colombianking wrote:

He would buy something before the credit card reports to the CRA's and then return the item the next day which demonstrates at the next report to the CRA's that the bill was paid.

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There are much simpler ways to show a balance than to waste time with this idiotic method.

And buying stuff just to return it the next day just to show the CRA's?  

This dude  seriously should have been crowd-beaten on the spot.  

[Anonymous]

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@Anonymous wrote:

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@Colombianking wrote:

He would buy something before the credit card reports to the CRA's and then return the item the next day which demonstrates at the next report to the CRA's that the bill was paid.

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There are much simpler ways to show a balance than to waste time with this idiotic method.

And buying stuff just to return it the next day just to show the CRA's?  

This dude  seriously should have been crowd-beaten on the spot.  

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+1

Not to mention the questionable morality of this... I certainly wouldn't be proud of buying over and over just for the purpose of returning. 

[Kenny]

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@Colombianking wrote:

i was at a seminar on building credit and someone in the crowd mentioned a way he built credit ... He would buy something before the credit card reports to the CRA's and then return the item the next day which demonstrates at the next report to the CRA's that the bill was paid.... but won't the credit card company close the card if they see you doing this all the time? Is this something you do every once in a while commingled with other purchases... Ideas ? Thoughts?

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Just silly, to me. All you have to do is a buy a piece of gum to show usage. What's the goal in this? If anything, just wastes a lot of people's time.. including their own.

[Anonymous]

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@Kenny wrote:

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@Colombianking wrote:

i was at a seminar on building credit and someone in the crowd mentioned a way he built credit ... He would buy something before the credit card reports to the CRA's and then return the item the next day which demonstrates at the next report to the CRA's that the bill was paid.... but won't the credit card company close the card if they see you doing this all the time? Is this something you do every once in a while commingled with other purchases... Ideas ? Thoughts?

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Just silly, to me. All you have to do is a buy a piece of gum to show usage. What's the goal in this? If anything, just wastes a lot of people's time.. including their own.

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Agreed.. That is ridiculous and he must have a lot of time on his hands.

[Pway]

I agree with everyone else here.  "Don't nobody got time for that."

[Anonymous]

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@Colombianking wrote:

i was at a seminar on building credit and someone in the crowd mentioned a way he built credit ... He would buy something before the credit card reports to the CRA's and then return the item the next day which demonstrates at the next report to the CRA's that the bill was paid.... but won't the credit card company close the card if they see you doing this all the time? Is this something you do every once in a while commingled with other purchases... Ideas ? Thoughts?

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This assumes all creditors will update to the CRAs the months that you have zero balances, and not all creditors do so. Not to mention, zero balances reporting on all cards isn't the ideal state of affairs. You need to show some actual use to show you're paying your obligations, i.e. letting some cards report with small balances and paying in full by the due date. It's pretty easy to "pay as agreed" when you're not actually charging anything that would then require repayment.

[Anonymous]

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@Pway wrote:

I agree with everyone else here.  "Don't nobody got time for that."

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+1 Nothing worse than wasting time...

[lg8302ch]

so far the silliest method I have ever seen   incredible what some people can come up with

[elim]

you could just buy something you need within your means and actually keep it

everyone looking for cheats...   up-down-up-down-left-right-left-right-A-B-select-start