Hypothetically, what would be the consequences if credit card

>>1652038
Hypothetically it can

>>1652038
>what is balance transfer

>>1652038
I just transferred $5000 from my Visa to Discover. It cost me 1% or roughly $50 to have 0% APR on the balance for a year.

>>1652050
For example, Discover sends me a blank check every month or so for a balance transfer. Basically you take the check, write in the amount you owe on the other credit card (Visa), and you send it to the Credit Card company that you are paying off (Visa). Now you owe Discover the amount you just payed Visa, plus a small fee.

>>1652038
If you have two credit cards, which are both fee free if you pay within 30 days, loan, then pay with the other, then shuffle it back and forth?

i think that might create a singularity

>>1652038
It's like the old check kiting scam. At some point someone tries to redeem the owed money and can't get real money or goods and services for the paper/electronic digits that count as money.

It could go on for a while though, if nobody was closely checking such behavior.

>>1653201
>If you have two credit cards, which are both fee free if you pay within 30 days, loan, then pay with the other, then shuffle it back and forth?

I would guess that interest starts being charged immediately on the sending card, like it does for a cash advance.

>>1652038
It's a brilliant plan why didn't anyone think of this before?

>>1652038
>>1653602
don't you have to use a checking account to make the payments?

courtesy checks
balance transfers

>>1654549
What is sarcasm for 800.