i owe a minumum payment and i need to pay it. this could be a way to dance around it.....
2006-10-02 10:59:26 · 5 answers · asked by Doug H 1 in Business & Finance ➔ Credit
I don't think the credit card issuers will allow them to. It would provide a 'bank door' to get a cash advance at purchase rates. The card issuers can't directly set store policy, but they can refuse to accept transactions from stores that violate their rules.
2006-10-02 13:44:10 · answer #1 · answered by STEVEN F 7 · 0⤊ 0⤋
Hmmmmm.
If you were to try to do this about 5 years ago, it would have been relatively easy. However, creditors AND retailers alike are hip to your game and have closed this loophole a long time ago!!
Your best bet is to sell your item on ebay or at a yard sale -- that is only way you can "monetize" your merchandise.
The retailers will only credit your credit card for the merchandise in question. And get this -- a sales return credit to your credit card account is NOT treated as a payment. So, you will still owe the minimum payment if you could get a credit to your credit account.
The larger, more important point here is the very desperate measures you are resorting to -- in order to pay 2% of your total credit card balance.
If you want to delude yourself into dismissing this "red flag", that is your right, but you are looking for a "quick fix" to a "very disturbing problem".
I feel it incumbent as a cyber-friend to warn you to take inventory of what you are asking and what you are trying to do.
Good luck and stay richly blessed.
2006-10-03 07:09:34 · answer #2 · answered by DaMan 5 · 0⤊ 0⤋
I haven't found one yet. They always credit your card. Sorry.
2006-10-02 18:02:21 · answer #3 · answered by robee 7 · 1⤊ 0⤋
Sounds like your asking for trouble. Don't do it.!
2006-10-03 22:38:10 · answer #4 · answered by llbm3 2 · 0⤊ 0⤋
They have no reason to.
2006-10-05 03:06:06 · answer #5 · answered by supercreditguru 3 · 0⤊ 0⤋