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Cash needed on creditcard voucher
jana march4
#1 Posted : Friday, February 22, 2013 2:50:18 PM
Rank: Hello


Joined: 2/22/2013
Posts: 2
Hi Wazuans, Some help please.

A fellow urgently needs emergency cash. With a creditcard worth 100k, the guy can purchase item/s where visacard is accepted and cash the item at some discount, say 10%, to a willing buyer. Any ideas out there on available best options. Transaction should take place ideally at beginning -first week of march2013, so that the guy can have the most of creditperiod before repayment. Any help please, offers??
sizzla
#2 Posted : Friday, February 22, 2013 3:18:49 PM
Rank: Member


Joined: 6/10/2006
Posts: 201
Location: Nairobi
Why?
jaykay
#3 Posted : Saturday, February 23, 2013 2:10:22 PM
Rank: Member


Joined: 4/6/2009
Posts: 78
@jana march4: Assumption 1.The CARD is not STOLEN.You have just given Wazuans the basics of "how to" fence LEGIT goods bought with a dodgy credit card.
Assumption 2: It is issued by a bank.

1. Ask the bank to convert the credit limit to an Overdraft.

OR
2. Withdraw money from the ATM at a punitive 10% or thereabouts and convert outstanding Bank debt to an unsecured loan.

Your Credit card limit can stand in for a pre-cleared loan amount.
jana march4
#4 Posted : Saturday, February 23, 2013 4:32:18 PM
Rank: Hello


Joined: 2/22/2013
Posts: 2
@Jk,
1.card is ok,ten yearold, issued by a bank.
2.i dont seem to understand: "how to" fence LEGIT goods bought with a dodgy credit card"... Iam curious what it means.
3.conversion to overdraft? I doubt the bank will agree since the account has not been as healthy as the past, in recent times.

4. Can one withdraw entire credit limit in Atm? Last time I was aware, years ago, my bank only allowed maximum 10k. the 10% interest is ok since it is what the guy is even prepared to pay in cashing the goods.
5. pre-cleared loan? i dont understand that, care to explain?, but take into account that the bankaccountlinked to the creditcard has not been healthy of late.

@Sizzla, the point is that with credit card your bank can give you interest-free credit/loan for a a period of even 2months to buy goods, but in an emergency cash may be a greater need than shopping.

Thanks.
accelriskconsult
#5 Posted : Wednesday, February 27, 2013 10:51:40 AM
Rank: Member


Joined: 4/2/2011
Posts: 629
Location: Nai
jana march4 wrote:
@Jk,
1.card is ok,ten yearold, issued by a bank.
2.i dont seem to understand: "how to" fence LEGIT goods bought with a dodgy credit card"... Iam curious what it means.
3.conversion to overdraft? I doubt the bank will agree since the account has not been as healthy as the past, in recent times.

4. Can one withdraw entire credit limit in Atm? Last time I was aware, years ago, my bank only allowed maximum 10k. the 10% interest is ok since it is what the guy is even prepared to pay in cashing the goods.
5. pre-cleared loan? i dont understand that, care to explain?, but take into account that the bankaccountlinked to the creditcard has not been healthy of late.

@Sizzla, the point is that with credit card your bank can give you interest-free credit/loan for a a period of even 2months to buy goods, but in an emergency cash may be a greater need than shopping.

Thanks.


Sounds like fraudulently obtained credit card to me otherwise the fellow would just withdraw cash from the ATM. My guess is that the 'fellow' does not have the PIN number (because card is no his) and therefore cannot withdraw cash.

Admin do we need such users on Wazua?
King G
#6 Posted : Wednesday, February 27, 2013 4:03:31 PM
Rank: Elder


Joined: 6/20/2012
Posts: 3,855
Location: Othumo
1st post and he is already thieving? Admin do something instead of just 'usering' wazee like me!
Thieves
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