Want To learn some credit card tips :)

Want To learn some credit card tips :)

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Deal Newbie
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Hi, I am a newbie dimer posting a question for the first time , so few months back i saw a post on credits cards here on desidime in which a person explained a trick in which you wont spend anything from your pocket if you have 5 credit cards . so i would like to learn this trick as i am unable to find the post . now i have 5 credit cards in my family i would like to learn how to do it .
I hope i am posting in the right section .

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rolleyes rolleyes rolleyes

pls let me as well

Missing
Deal Subedar
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Simplest trick: don’t use your 5 cards

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gotrajk wrote:

Simplest trick: don’t use your 5 cards

lol

Missing
Deal Cadet
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Most Important tip: Always pay back in full after every month statement

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peekaydeals wrote:

Most Important tip: Always pay back in full after every month statement

thanks for the tip but there was some kind of trick where you could pay your credit card bills using other credit cards and this circle keeps on going and you wont spend anything from your pocket .

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Deal Cadet
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That’s called credit transfer and it has associated interest charges and are really steep. Don’t ever think about it.

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Dealcharmer wrote:

thanks for the tip but there was some kind of trick where you could pay your credit card bills using other credit cards and this circle keeps on going and you wont spend anything from your pocket .

What about the very last payment u have to make? What if the rotation trick stops somehow and you dont have the money to pay back your last outstanding on time? And what if your rotation of money leads to high enough usage to attract Income tax notices?
Why would you want to get into this cycle at all?

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Never thought Nirav Modi & Vijay Mallya will become role models and ppl will want to start following their footsteps sweat_smile sweat_smile sweat_smile

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konquerror wrote:

That’s called credit transfer and it has associated interest charges and are really steep. Don’t ever think about it.

so one should stay away from these kind of tricks ? it is not beneficial ? i am asking these things because i am new to credit cards.

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mas143forever wrote:

What about the very last payment u have to make? What if the rotation trick stops somehow and you dont have the money to pay back your last outstanding on time? And what if your rotation of money leads to high enough usage to attract Income tax notices?
Why would you want to get into this cycle at all?

Brother, i am asking you guys about this because i dont have enough knowledge about it , one thing that i remember from that trick is never use your credit card to the full potential only use 40% . so it will help in repayment .

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NotBatman wrote:

Never thought Nirav Modi & Vijay Mallya will become role models and ppl will want to start following their footsteps sweat_smile sweat_smile sweat_smile

Lol they are not my role models, i dont have enough knowledge about it so i want you guys to enlighten me .. if you say its not good i wont do it .

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Dealcharmer wrote:

Lol they are not my role models, i dont have enough knowledge about it so i want you guys to enlighten me .. if you say its not good i wont do it .

Nothing good comes out of doing the wrong thing.
Avoid, it unethical grinning

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NotBatman wrote:

Nothing good comes out of doing the wrong thing.
Avoid, it unethical grinning

Thanks for the advice smile

Napster new
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@Dealcharmer Buy this – https://www.amazon.in/dp/B01B...9Y, then convert each credit card into 4 (pieces). Make a one time payment of all outstanding. After that for the rest of your life, you don’t have to pay anything for your pocket or wallet.

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enapster wrote:

@Dealcharmer Buy this – https://www.amazon.in/dp/B01B...9Y, then convert each credit card into 4 (pieces). Make a one time payment of all outstanding. After that for the rest of your life, you don’t have to pay anything for your pocket or wallet.

thats by far the best credit card trick ever .. thanks brother biggrin

Saikcw
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@Dealcharmer u must be aware Cibil is continuously tracking our credit behaviours. Its not advisable to act smart wink

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Saikcw wrote:

@Dealcharmer u must be aware Cibil is continuously tracking our credit behaviours. Its not advisable to act smart wink

CIBIL does not track anyone. They just consolidate and and analyze data provided to them by Banks and NBFC.

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So, In a nutshell Doing this kind of rotation or circulation of credit is not advisable ?

Saikcw
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Dealcharmer wrote:

So, In a nutshell Doing this kind of rotation or circulation of credit is not advisable ?

I personally wud refrain from …..

Dual survival cody lundin 2
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Hey Here is the Trick Completely Explained.

1> Get 5 Credit Cards from 5 Different Banks. (as per your need)
2> Spend as much as you can aggressively.
3> Go and get in touch with Bank Manager and request him or her that you will pay you dues every month with credit card, it depends on your talking and convincing skills.
4> On due date before 1 day a person from Bank will visit your home to collect the card from which you want to make the payment to clear your dues.
That’s it, the circle continues till the death of the credit card holder.

Enjoy it and enjoy life and credit card. Don’t leave opportunity to grab credit cards as much as possible. The more the credit card the more you are on top of the world.

CC: @enapster @A2Zdeals @Dealcharmer

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Cody wrote:

Hey Here is the Trick Completely Explained.

1> Get 5 Credit Cards from 5 Different Banks. (as per your need)
2> Spend as much as you can aggressively.
3> Go and get in touch with Bank Manager and request him or her that you will pay you dues every month with credit card, it depends on your talking and convincing skills.
4> On due date before 1 day a person from Bank will visit your home to collect the card from which you want to make the payment to clear your dues.
That’s it, the circle continues till the death of the credit card holder.

Enjoy it and enjoy life and credit card. Don’t leave opportunity to grab credit cards as much as possible. The more the credit card the more you are on top of the world.

CC: @enapster @A2Zdeals @Dealcharmer

Thanks a lot for the input bro smile

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Transferring funds from the credit card fo paytn or phone pe and then get that fund into bank is good thing to do ( i know paytm take 3% cut ) but i have heard phonepe doesnt take any percentage ??

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Dealcharmer wrote:

Transferring funds from the credit card fo paytn or phone pe and then get that fund into bank is good thing to do ( i know paytm take 3% cut ) but i have heard phonepe doesnt take any percentage ??

That’s true. Try it…

Missing