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bargain
Posts: 1532
Location: Sydney, New South Wales
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ok, I haven't really looked into it at all, and I'm sure if I did I would get the answer straight away.... but then what's the ponit of QGL. Yea.
Question: You purchase a whole bunch of stuff on 'credit card A'. Before the interest free period on those purchases expires, you pay off 'credit card A' with a BPAY payment from 'credit card B'. That BPAY payment is considered a purchase yea? If so, then it would then have a interest free period on 'credit card B' yea? So could you then in theory keep BPAYing the same amount from one credit card to the other avoiding interest and effectively just having that money for free? I'm sure there's gotta be some sort of conditions to stop ppl from doing this... is there? Seems too simple/good to be true etc... Anyone got the leet banking info? |
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| #0 06:16pm 14/02/09 |
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system
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kos
Posts: 1029
Location: Melbourne, Victoria
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Woah... deja vu. |
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| #1 06:35pm 14/02/09 |
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aussiemuzzz
Posts: 1
Location: Brisbane, Queensland
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You want to keep doing that for the rest of your life? Be my guest!
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| #2 06:30pm 14/02/09 |
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stinky
Posts: 3068
Location: Brisbane, Queensland
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yeah that'll work perfectly! get to it!
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| #3 06:32pm 14/02/09 |
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tequila
Posts: 1172
Location: Sydney, New South Wales
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I dunno about the rest of you but I can schedule bpay payments/xfer's to occur whenever I want, via netbank (Suncorp)
its still a stupid idea, I'm sure you would eventually have to pay the money back |
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| #4 07:00pm 14/02/09 |
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Obes
Posts: 7248
Location: Brisbane, Queensland
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Some b-pay bills can aparently limit you from using a credit card to pay it.
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| #5 07:05pm 14/02/09 |
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infi
Posts: 11192
Location: Brisbane, Queensland
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I think someone has just discovered free money!
I await the outcomes of your testing. jail, ACA etc. |
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| #6 07:08pm 14/02/09 |
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Pinky
Posts: 692
Location: Melbourne, Victoria
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I believe that interest free cards are 'interest free on purchases' meaning that only specific spendings are interest free for the period. |
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| #7 07:09pm 14/02/09 |
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ctd
Posts: 6943
Location: Brisbane, Queensland
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lol FREE MONEY
I went to harvey normans and spent 20k on interest free gear. FREE MASSAGE COUCHES FOR ALL. |
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| #8 07:41pm 14/02/09 |
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épic™
Posts: 2135
Location: Brisbane, Queensland
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just apply for the credit card is someone elses name, then its their problem! am i right?
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| #9 07:52pm 14/02/09 |
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system
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