I had an idea all these credit cards you can get and have thousands of dollars in credit at your disposal, there has to be something you could buy with all that credit and turn around and sell it again and make sure the card gets paid off in 30 days to miss the interest, and use the credit card companys money to make money with somehow? just a thought!
2007-09-04 16:36:32 · 3 answers · asked by brussels152 1 in Business & Finance ➔ Credit
i would not dare to buy large quanities of any product because you cant sell large volumes in only 30 days so i would have to buy 1-3 products at a time that have higher value but a good sell and make a few $$ nothing BIG time by any means...
2007-09-04 16:45:24 · update #1
I wouldn't advise that at all. like another poster said, you'd more than likely but stuck with some type of product collecting dust in the garage.....PLUS, think of the cash advance charges associated with your credit cards as well as the APR charged monthly. Do you really have a product that you can buy at such a low price you'd be able to recoop your costs AND make a decent amount of money? very doubtful!
2007-09-04 19:40:46 · answer #1 · answered by Anonymous · 0⤊ 0⤋
If you have a good credit rating, then credit cards are not the proper way to finance a bussiness. In the long run, it's lower risk to get a small loan from a bank and pay it off early.
2007-09-04 23:45:21 · answer #2 · answered by Anonymous · 1⤊ 0⤋
That is what many business people do ,
Unfortunately , sales do not always go as hoped ,
And they can't make the payments and owe HUGE interest charges on top of the bill for merchandise sitting in their storeroom or garage .
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2007-09-04 23:41:48 · answer #3 · answered by kate 7 · 0⤊ 0⤋