Hi,
Just to use all the money in your credit cards to buy some BTC and then before the grace period pay them back and repeat. If I am not wrong, this should give you a very nice profit say for a total amount of $20k between 7-8 credit cards plus good credit and all the cachback and points each CC have.
Is this smart?
Anyone does this?
And more important which exchanges allow you to use credit cards? Or is it better to buy using paypal and fund it via the CCs?
Thanks in advance.
Profit is possible but too risky. You are dealing with a double risk on the interest of the credit card against the potential value of the profit you will earn in bitcoin. However, with the recent trend of the value of bitcoin, we can say that you can really pay your credit card in the shortest time possible but still you need to manage the exchange of paying little by little of the credit card interest and the outstanding capital debts.