If you wait one day between cards, they absolutely will stop you. Your credit rating will send off alarm bells, and the other cards will immediately lower your available credit. Ask me how I know this. The question is just if they communicate instantaneously.
To totally max it out you’d need to go into a bank and talk to a teller anyway.
Either that or use one of those blank checks the CC companies always send. But I’m not sure you could take one of those to a bank and walk out with cash for your full available credit. They want you to use them to pay off other CCs.
Well? Got some details?
I think your cash advance limit is lower than your credit limit. So if you try to get cash up to the limit, it won’t work.
That’s why you have to buy gold or something very liquid.
Yeah sometimes though cash advance was pretty close to total limit, especially if you use one of the checks they constantly send.
I used one of those checks that they urged me to use they send to pay off a debt, and they instantly raised my rates and lowered the rest of my available credit. Happened to me more times than I can count.
Sometimes they wouldn’t even give you the option of cancelling the card and paying it off under the old terms. That’s just straight up evil. If you read the contract it basically says, “We can change the contract to anything we want at any time for any reason.” Why even have a freaking contract?
Also my other credit cards instantly lowered my available credit. It’s like you might have $120k available credit, but it’s really more like $30k. Not that I’m complaining about them not letting me get $120k into debt.
The funny thing is I always paid them off eventually, and not to long ago had an 850 credit score. I’m their dream customer and they still treated me like utter shite.
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Absolutely they will.
I opened a credit card prior to my wedding and instantly maxed it out within 3 days of opening.
Did you have a starting credit limit over $10,000 USD?
Yeah. 15,000 Aussie approx 10k USD
It’s with my regular bank that sees all my salary, shares, etc, so I’m sure they have a strong view on my credit worthiness or not.
I’ve opened up new cards with a 10k limit and maxxed them right away on predict it or sports betting sites (when they had those risk free bet promos). Never heard a peep from anyone.
There’s usually a lower limit for cash advances or cash like transactions (gift cards, gold, etc.). So, if you’re buying 120k worth of stuff, what are you buying to take with you out of the country?
Bitcoin
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Maybe there’s a way but I’m pretty skeptical you could just max out your credit limit for purchases on bitcoin. Pretty sure this would be treated like a cash advance
I charged about $20k on my daughter’s wedding. Never got any notice
I’m pretty sure if you just go to a reputable jeweler and just by a fuckton of gold it would work. Even if not in bar or coin form, stuff like simple chains don’t have that much of a mark up. I’d be very surprised if this set off any alerts besides the normal ones for fraud/stolen card.
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It’s definitely possible if you follow this one trick that they don’t want you to know about:
Have your parents give you 79-82 thousand dollars.
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More of a LOL ChatGPT? I can think of only two good reasons for a young person to be holding $80k cash:
- Saving for a downpayment on a home.
- High earners + high spenders and $80k is actually their 3-6 month emergency fund
She doesn’t need $80k. I’m guessing she’s pretty frugal already and probably doesn’t spend more than $2k per month, which makes me think she could get by with $5k Emergency Fund in the bank and throw the rest into investment accounts. She should look into LeanFIRE or read the book Early Retirement Extreme.
Yeah, this. At first I thought that she was talking about retirement savings, but then she said this was in addition to that at which point I was sure whether to LOL Chatgpt or LOL her for believing it.
https://x.com/growing_daniel/status/1831865053211193691
retire early by splitting your life into 35-year blocks. the first 35 years of your life ends, and you turn 36, right? no. not me. i’m turning zero again and i’m starting over.
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Put this guy in the bad beard thread
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There isn’t a law against maxing out your credit card, they may care if you do it in a way that looks fraudulent, but I’m sure they only care when you don’t pay.