I'm sure this is not a new idea, but I'm a complete moron when it comes to math. Can one of you math whizzes out there break something down for me - (into small words, cause I don't speak this 'Math' of yours) Why can this not be done:What's to keep someone from just getting Y amount of credit on X amount of credit cards, (say, 20 or more cards) and then quitting their jobs forever? Once you have a few cards, they just keep sending you more of them. They WANT you to rack up high balances that you can't pay. And the more cards you have, the more willing they are to send you more. And the more you use a card and pay it on time, the higher your limit rises.
So you just keep flopping the balances from card to card, paying each card with the others - as long as you meet the minimums, they're more than happy to let you carry a large balance - since that means more interest charges for them. Even if you could not pay a bill with another card directly, you could just withdraw cash from one card, then use it to pay your bill on the others.Yes, you would die five million dollars in debt, but who cares? I'm guessing that there is a very simple reason why this can't work, or there would be no accountants and math teachers - they'd all be relaxing at home. OK, math whizzes - get to 'splainin. And I want details!
