You have 4 credit cards, A.B.C.D. Each card with a limit of 1000 dollars ...?

The con is that you eventually have to pay the original 1000 back...at 20% interest.

Does that really make sense to you? How could he live pretty good? He only had $1000 and the $1000 he got from CC B. would not pay CC A. because if the interest he would have had to pay.

You should pay off the $400 balance and not use either card unless you have an emergency. For every $10 charged to a card you can save a lot more. The old adage of pay with cash or save your cash until you can pay is the best way to live your life if you ever want to own a home and live other than that, debt free. Stay away from the credit cards, they are a trap at any interest rate.

The situation you describe is called, "robbing Peter to pay Paul",,

It could never work in reality since you wold have a balance that is accruing at least 25% interest on a cash advance the second you withdraw the cash,, If you took a cash advance against another card and paid the previous card off at the end of the month, you'd be losing 20-bucks in interest,,,

Next situation would be that you revolve the balance on your cards,,, Bad idea,, your credit would take a major hit from having too many cards reporting near 100% utilization,

That is the most inane scheme I have ever heard of. LOL

Plus, if you are borrowing the money, that means you are taking a cash advance, that has a hefty fee..so instead of owing just the 1k, you will owe that and interest plus cash advance fees.

The guy that you observed *appeared* to be living pretty good, but I guarantee it either caught up to him, or he was up to his eyeballs in debt. If I had 10 credit cards and maxxed them out to buy stuff to impress the neighborhood, I would appear like I was living high too.

You still end up with $1000 that needs to be paid.

You see what I did there? I put the $ before the number, not after. See you learned two things today.

It may look good now, but YOU are still 1000 in the hole. That is BERNIE MADOFF doing to his investors and blow up on everyone faces. Stay away from him for business advices.

Won't work. That credit activity will show and the other cc will cancel your account.

youll just end up more and more in debt. not worth it.