Well, in a nutshell
I know someone with a visa credit card that has a $10,000 debt balance, yes this is true
The idea is to offer up the card and the debt to be assumed by the transferee
BUT
BUT!!! And this is a biggie
The card offers 1% cash back on ALL purchases
So if one should spend $6 million in a lifetime on credit card purchases (a reasonable lifetime goal)
That's a savings of
$6,000,000 X 0.01
Minus the $10,000 credit debt assumed
= $50,000
You see this is factually correct ...there is a $50,000 value being offered here, is there not?
I know someone with a visa credit card that has a $10,000 debt balance, yes this is true
The idea is to offer up the card and the debt to be assumed by the transferee
BUT
BUT!!! And this is a biggie
The card offers 1% cash back on ALL purchases
So if one should spend $6 million in a lifetime on credit card purchases (a reasonable lifetime goal)
That's a savings of
$6,000,000 X 0.01
Minus the $10,000 credit debt assumed
= $50,000
You see this is factually correct ...there is a $50,000 value being offered here, is there not?
A $50,000-dollar offer nobody seems to want
