Up to 250k cash with 0% APR Credit Cards

[chbochur]

Do you mind listing the common mistakes people make?

If I knew ahead of time I'd tell them what not to do, but every time there's another little detail that I thought was obvious and was missed out or something.

[Let3]

A workmate of mine does this for a living as well, if anyone is looking for a “professional” pm me.

[chbochur]

A workmate of mine does this for a living as well, if anyone is looking for a “professional” pm me.

A workmate of yours does this for a living? So your saying that you do it to or that you don't make a living?

[S209]

A workmate of yours does this for a living? So your saying that you do it to or that you don't make a living?

[Let3]

A workmate of yours does this for a living? So your saying that you do it to or that you don't make a living?

NEver heard of someone having 2 jobs?

[daybyday]

I recently came across a company which helps you open up credit cards with a 0% APR for a year or more, and claim that they can get you up to 250k if you have very good credit, and less if your credit is not as good. They charge 4.5% for every 100k and an additional 1.5% to convert it in to cash.
Has anyone done this before and if yes, is there a big risk in allowing a third party to do this on your behalf?
Is there really a reason to pay them so much if you can do it yourself - what are they doing that you can't do on your own - inflating your income, or is there more to it that makes it worth the fee?

If you have good credit score and history it is def doable. One thing to keep in mind dont use the credit card once you borrow the money because you will be paying toward the original debt when you pay your bill. That means you will get charged interest for the new charges that you add.

I have done this myself for smaller amounts with no issue. No need to have some 3rd party do it for you, you can research it on your own.
Also be super vigilant about paying it prior to the 0% apr expiring, because if you do get hit with interest it will be big $$

[ckmk47]

Thanks - is there any catch to doing it right?

I've got those checks randomly, they're great when I get them but I don't know of any way to depend on the credit card company sending them to me.

You can call any card you already have and ask if they have any balance transfer offers on your account.

[ADG]

BT's are alway's 3% even on 0APR cards.

Do you pay that?

[LoLo]

BT's are alway's 3% even on 0APR cards.

Not always.

[S209]

Not always.

+1

Chase Slate

[ExGingi]

+1

Chase Slate

I've seen on Discover. Also Barclays often offers for 1% BT fee.

[LoLo]

Amex ED.

BofA bankamericard.

[ExGingi]

One thing I will say is that if balances on accounts go from $0 to a high percentage of Credit Lines within a short time frame, it can call for financial reviews, shut downs, credit line cuts etc.

[chinagel]

One thing I will say is that if balances on accounts go from $0 to a high percentage of Credit Lines within a short time frame, it can call for financial reviews, shut downs, credit line cuts etc.

True, but you still get the cash.

[DealKiller]

One thing I will say is that if balances on accounts go from $0 to a high percentage of Credit Lines within a short time frame, it can call for financial reviews, shut downs, credit line cuts etc.

As long as you were honest on your application you will be ok.

[joey89]

Any business cards that have 0% apr period and that don’t ha a BT fee?

[LoLo]

Not afaik.

[joey89]

Not afaik.

Thanks.