Hi George! Did you know AMEX does not issue the blue in Iowa?I thought I would mention this since you a such a lover of AMEX? Any idea why?
heres a thought go invest in real estate and make $ that way you won't need high credit limits you will have money available that yours and not on loan . you will reap the profits with interest not the CC companies
I prefer to use other peoples money to make myself rich... why use my own when I don't have to risk it? Almost all rich people borrow to become rich...
how are you making money off of others by using credit ? if you use the credit to invest you still need to pay it back w/ interest if you carry a balance.
General Electric is one of the biggest borrowers of money every day. The borrow because they can invest at a higher rate then they pay. If institutions can do it then so can we. However, my idea is incase I decide to cash out and move on I can do it with the banks money and it's tax free. Better yet, do it with a file segregation.
Re: Re: Re: Obtaining High Credit Limits fun, You asked how you make money off of others by using credit. Easy--borrow and invest. Take the 0% offer, use the cash to buy a CD. Or BT some balances to a low rate card. Pay it off at minimum each month. Take the extra money you'd use to pay it off faster and invest it. Use the money from a low interest loan to invest in real estate or a business. Any place that you can get more than you pay. That's what increases wealth.
Re: Re: Obtaining High Credit Limits let's see I just closed on a REI deal using my LOC for the DP plus a little of my cash in 3 months time I will make $22,000 to $28,000. The rehab which will be paid with with a 0% CC no fee yes that's right no interest ... Yes I will pay int on the loan at 6.75% int on the LOC at 7.99% but I will make money that I did not have before and am not putting much of my capitol at risk. Sure makes alot of sense to me
