Originally Posted by
scotty00
Good ideas, but what do you then do with the GC/cert/prepaid charge card? In the end, the goal is to find eligible spend without a remaining asset in hand. You could buy gift cards 24/7 to get a lot of spend, but what good does that do you when you now have $xx thousand in gift cards to use on spend which you could have used your credit card for in the first place?
You are correct in part.
But consider this:
Say your new CC has a spend of $4k but it needs to get done in 90 days.
Say you have a situation whereas you wont be able to actually spend that money in that time period.
Well the idea of buying GCs now is that you would in fact make it on time, but then you could use those GCs even AFTER the spend period of the promo is over. I have said this many times before in here and in related threads.
the first point is to make the spend. then of course, it's to have whatever you get be either a charge you would have done anyway, or a way to pay back the spended CC.
But if you end up with all these GCs and the 90 promo period is over, just use THOSE on things you'd normally do now. You will eventually burn them up. At least you would have made the spend in time.
that's the key here.