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Originally Posted by debtfreesteve
I was going to stay out of this one, but this quote caught my eye...
Who wants to have dreams of high credit limits? Sounds more like a nightmare to me. I dream of benjamins baby, and you don't get them by playing this ridiculous game with the massive credit industry and it's institutions, They've got you, and you don't even know it.
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What you call a ridiculous game is just what the banking industry does to make it's own "benjamins". There is a whole culture of people who make money in a similar way, by borrowing money for less than they can lend it back out to the banks at. Its actually not that difficult to manage if you do your homework or if find somene willing to let you apprentice with them. With this way of producing income, the higher your credit limits the better. Whether someone makes a few hundred a year or over $10,000, it is up to them to decide if it is woth it or not. I'm not as hardcore as some others at this, but I do enjoy the extra money I make arbitraging credit union and bank rates.