NothingToHide

I agree, any bank is going to see this as a bustout and try to shut him down asap. Even if he isn't trying to bustout, it will appear so and they will certainly close him down. I think from his point of view, he can still make payments on the cards at 0%, etc and although he may never be able to use "those" cards ever again, as long as he does actually pay the money back, he will be able to get more cards in the future after he does repay all of them. Anyway, just doesn't seem worth the risk, but not for me to decide, for him to decide. Without doing a random SP, the banks will only see the usage of their own cards. AS mendelssohn pointed out, there is still concern that they'll get freaked out by the balance on their own cards, but if not they'll never know about my util.

Will definitely cause my score to plummet, but don't really mind too much. What do you mean by "withdrawn?" Once the limit is being used, there's not much to do. Even closing the account won't force me to pay them the money back. The help requested was to possibly tweak my app spree, recommend different cards, different order of applications etc. Wasn't expected everyone to just parrot "o my goodness, you're doing something that everybody says not to do, it must end in disaster" without giving much legitimate reason, aside from one or 2 vague concerns. Hello. What made me uncomfortable with this post and why I followed it are your words. "Even closing the account won't force me to pay them the money back". It sounds as though you plan to pull out all of the money. Create invoices and send "payment" via paypal, which is against their rules and really have no intention to pay back the money you take out. As you live in a foreign country, I have lived as an adult in two Western European countries, I am quite certain you have established credit in those countries - I was able to do it in both countries as a US citizen. And, if some debt collector tries to find you it is difficult and you can claim ignorance since everything was done from abroad and via paypal. I am not accusing you of being a thief but that sentence did make me think there may be a different motive than the one you offered - as NO investment is 100% guaranteed ROI and any investor, investment banker, trader and so forth will tell you the same thing. What I meant by forcing them to pay them back means within the 12 months of 0%... the CC's will be paid off by the end of the terms.

mec, I'm not trying to be rude, just honest. He is not asking for investment strategy advice or repayment advice. His only concern is getting the cash and will deal with whatever comes as it comes. So either give him advice on how to access credit lines for the cash or stay out of it. All these posts on here telling the guy he is making a bad decision or looking for him to give you ammo so you can shoot down his idea is ridiculous. Either help him or do not post. Thank you. I'm looking for ammo. Ammo I'd imagine nothing to hide wants us to have. As HDPorter pointed out, the question as posed is somewhat rhetorical and one reason for that could be that the OP isn't sure where the landmines may be in this proposition. The OP brought up 0℅ borrowing so this seems like a potential issue depending on how familiar nothing to hide is with carrying debt. Another group of concern would be the various transactions that will have to take place to assemble the capital. Perhaps they should be explored individually. PayPal, BT checks ... What will happen to the viability of the 'investment' if the Capital comes up 10k or 40k short due to a bank account being frozen, or a processor suspending processes before the capital's critical mass has been achieved? When someone asks a question you sometimes need more information to give them an answer and the reason for that is usually that the process doesn't work as they imagine when they formulate the idea. You're 100% right. These definitely are legitimate concerns. The BT transfers shouldn't be an issue as they'll be deposited with a bank that I've got a great relationship with. The paypal part may cause issues and will require slow progress. I'm working on getting friends to use the cards legitimately and hit me back.

I saw that some people weren't happy with your question, not sure why- it's quite important as I'll need to be paying back at least 2% in minimum payments for the CC. The investment is a RE investment with 8-10% ROI. The cash will be in hand within the 12 months, either in cash or a HELOC that my spouse will take out on the property. I think I may regret saying this as I can imagine telling me how they know that no investment is guaranteed so it's a disaster of an idea... but what can we do.

Gotcha. I wanna try to figure out just how realistic this can be, so I can game-plan accordingly: Which banks will get closed and shut me down? The banks that I'm using to BT shouldn't be concerned if I BT large balances over, as this is their intent with the offer. The banks that I'll have to be doing spending with (via Paypal) for the 0%... I guess if I move to quickly with those, they could freak out. If I would do that spending slowly, that shouldn't be an issue right? Also, without doing a random SP, the other banks wouldn't know what my utilization is on my other cards. So if they aren't considered with whatever balances I have on their cards, they won't feel a need to look into the rest of my credit file. Correct? One way to avoid this scenario would be to apply for all the credit, and take a few months to build up the cash. Not as ideal, but this may be a good way to play it safe.

Thanks for the vote of confidence! I didn't think it was relevant to mention, but I do have 25-30k of my own cash to work with also. I can definitely wait and build up my credit with CLI and some more credit from banks that send BT offers, but I do feel with my current available credit plus some more cards that I can pull off my 120k goal (not including my own cash). Do you really think it's unrealistic?

the wild "what if" is the investment side of the equation, which I specifically left without detail because it wasn't relevant to the credit side of things. I certainly gave quite a bit of very relevant information, including my though-out plan of action regarding accessing more credit. In terms of being attacked, I was referring to people just commenting about how crazy it is, bad idea etc. to invest borrowed money. No sweat off my back if they do, but it definitely gets us nowhere in terms of credit. If this is what provides entertainment, then like I said, we can definitely continue the thread just for that!

Interesting point, I did leave quite a lot of info in my OP, didn't even think about it... In practicality, I can't imagine how it'd work- an individual bank would have to find everyone that meets the criteria e.g. 2 15k ventures, and SP their credit to see which one matches the rest of the info I posted.

Guess I'll give up on this thread being useful, but we can still enjoy ourselves if you guys want! To answer the guy who called me out on "BS" regarding my "millionaire dad"- go look back at my response, I specifically said "let's say" so that we can take out the investment side of the equation, which everyone is attacking. Yes, my OP would definitely be the same if I was looking to bust-out... won't be able to prove otherwise, although I don't see a need nor care to. Not sure what the problem with a 1.7 AAOA is- if I was in the game for 4 years and churned the same amount of cards every year, my AAOA would be 2.... 1.7 AAOA just means that I've gotten slightly more cards in the last 2 years than the previous 2. For all of those who are yelling "don't borrow to invest"- you guys have a fair point- I'm definitely going against that rule. But, I'm confident enough in my investment to take that risk, although I appreciate all the warnings intended for my best interest! In all honesty I didn't expect to get so attacked- I figured there would be a handful of comments regarding the investment side, but I was hoping for more critique on the credit game plan- planning which cards to app, order of application, better ways to move around credit etc. Maybe I should've titled the thread "Let's say you were planning a bust-out, what would your game plan be?"

Thanks! While you're at it, any comments on the actual credit plan?

I'll take that bet up and double down I don't know who you're referring to, but have an admin cross-check the IP's. and again IF you have a millionaire Dad then he would advise you on exactly how much of a f*cked up idea this is I don't have a millionaire Dad, I'm just using that scenario to assume a 0% risk situation and only address the credit part of my plan.

Will definitely cause my score to plummet, but don't really mind too much. What do you mean by "withdrawn?" Once the limit is being used, there's not much to do. Even closing the account won't force me to pay them the money back. The help requested was to possibly tweak my app spree, recommend different cards, different order of applications etc. Wasn't expected everyone to just parrot "o my goodness, you're doing something that everybody says not to do, it must end in disaster" without giving much legitimate reason, aside from one or 2 vague concerns. Well guess what? People will parrot "you're doing something that everybody says not to do, it must end in disaster" because that is likely how it will end. And I doubt anyone is going to help you tweak your app spree when they don't believe what you are planning to do is a good idea. I'm total cool with people informing me how bad the idea is, as long as they provide legitimate reasons. I understand that the concept of being 120k in debt is scary, but if that's the only concern, with no real basis, then meh. I was actually looking for those, but the only ones I found were ones that involved doing something stupid with the money. I couldn't find anything wrong with the actual plan itself. I'd be using paypal to send money to people, which would count as purchases on the CC. No CA necessary. .... What do you mean by "withdrawn?" ... Close the account(s). This is finally a legit concern! But, I'm not so concerned because if they do, I'll have my cash already and still have 12 months of 0% APR... just a burnt bridge. Additionally, I have established history with most CC companies, so if I legitimately take them up on their 0% offers, I don't see why they'd close me down rather than just lower my limits as I make minimum payments.

Will definitely cause my score to plummet, but don't really mind too much. What do you mean by "withdrawn?" Once the limit is being used, there's not much to do. Even closing the account won't force me to pay them the money back. The help requested was to possibly tweak my app spree, recommend different cards, different order of applications etc. Wasn't expected everyone to just parrot "o my goodness, you're doing something that everybody says not to do, it must end in disaster" without giving much legitimate reason, aside from one or 2 vague concerns.

So far it seems the only 2 issues being raised are: The soundness of my investment- if it's not 100% then I'll get messed over with too much debt and no more money. In regard to that, let's all assumed that my millionaire dad has told me that if I can raise 120k he'll match me penny to penny, guaranteed. The second issue being raised is AA from the CC companies. Not sure what type of adverse action and from whom- Once approved and maxed out, the worst they can do is lower CL of which I've already maxed out and don't have to pay interest on, which I can handle. I'm going to make sure I get the cards maxed before any of the other cards report high util.

Attacking the plan is helpful, as long as it's just and thought-out, not just an immediate reaction. PLOC will cost me a handful more points in interest, plus I can't imagine I'll be getting high lines of credit.