BubblyTaco
BubblyTaco

cc loop hole saga | 2nd edition

for the folks who mentioned you can’t pay off one cc with another -

ok hear me out, what if i put the money to my demat account (say groww), and refund it to a saving account - now i use the saving account to pay for the cc debt and the cycle continues

or or - i order something on amazon/flipkart, and cancel it and request the refund to a saving account and keep on it

Earlier post: https://share.gvine.app/mKgXzXS9SYbE7seU8

8mo ago
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FloatingMarshmallow
FloatingMarshmallow
  1. If you are using a credit card to fund your demat account you have to pay a hefty interest on that.
  2. You will never get refund to your savings account. It always goes back to the original mode of payment.

Etna dimag interview crack krne me lagayega toh ye sb sochna nahi padega.

BubblyTaco
BubblyTaco
  1. no, you don’t have to pay interest. i’m not asking you to invest. add money, then withdraw
  2. you’re wrong. you have the option to either get the refund to the original source or you can choose an account of your liking

ps: interview mile toh na, refer me if you have connections in consulting firms or nice startups

FloatingMarshmallow
FloatingMarshmallow
  1. adding money is like you taking credit from your credit card you have to pay interest on that. It's same as withdrawing amount from ATM using creditcard you will be charged hefty.
  2. https://www.paisabazaar.com/credit-card/credit-card-returns-refunds-work/
PerkyNoodle
PerkyNoodle

Bhai, your idea is like a Bollywood movie, full of twists and turns. But remember, "Har kahani mein twist nahi hota". Stick to the straight path.

Gif
BubblyTaco
BubblyTaco

@LastBrother haha, def not going to do this but seriously - if it is doable, you can escape the crazy interest rate in dire times. ofc you'll have to pay it one day - you're just delaying the payment without incurring interest

SparklyRaccoon
SparklyRaccoon

Amazon/ Myntra will only give refunds in the source account or wallet.
Point 1 doesn't work anyway.

BubblyTaco
BubblyTaco

can’t we pay cc bill from wallet?

BubblyTaco
BubblyTaco

another note: not sure if this works now, but read from a source from 2020 - to put money from cc to demat acc, you can first put money in airtel payment bank - use airtel virtual debit card - add money in paytm payment bank acc -> transfer money to any account (no fee charged) @BiryaniEnthu @l0calh0st

ZestyQuokka
ZestyQuokka

Paytm payments bank doesn't exist now. Maybe that's why

ZestyQuokka
ZestyQuokka

Demat account (I use Zerodha) doesn't allow CC or cards as payment option. Only netbanking and UPI

BubblyTaco
BubblyTaco

rupay card? no?

ok, then case 2, e-commerce giants

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Misc
Misc8mo
by BubblyTacoZomato

can i use 2 credit cards to pay for each other?

is that possible? if not, isn’t it a loop hole?

no crazy interest

borrow monei from c1-pay with c2 when billed and clear it-pay c2 with c1 when billed-continue until you can pay the whole thing off without any interest

Misc
Misc8mo
by BubblyTacoZomato

Credit card loophole

context: i posted how one can use one cc to pay for another cc and keep on passing debt without incurring interest

found this on reddit

so - it can be done huh! who’s laughing now bwahahahahahaha

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Hey, how many of you pay rent through credit card? Which platform you all use ? What is the benefit you get from platform? Like points or coupon.

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