Long story short, i'm getting into MS here and have been involved with a form of MS through something different that we can discuss later. I have one credit card to my name, its that Chase Unlimited card, and it's alright but my 15 months interest free is almost up so I need a new one. Any suggestions? Please and Thank you
The Best Offer for Me
- Thread starter Keeton
- Start date
Currently I am carrying a balance they I can pay off with the form of MS i'm using through micro retail. My goals are to travel as I'm in a spot where I can work from home or wherever and still be effective. I'm using the micro retail MS to grow my savings, my job to make ends meet and put money into my savings so I can use the micro retail, and I want a card or best choice of MS for traveling.
chalkitup
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posted a reference in conga forum
Forms of crowdfunding (specifically consignment opportunities) falls under MS. The reason for me saying this is because MS is simply the process of earning multiple resources from only one source of payment. With consignment you can use your credit card, get the rewards from the card and from the brand you're supporting. So yeah its a form
AnyNameYouWish
Level 2 Member
It seems as if he contributes as a loan with the interest free card, and pays it off when he is paid back + interest, which looks to be anywhere from 5%-15%. He's concerned because he can no longer float these micro loans for free once the interest free period on the card ends. He's not getting contributions, he's funding micro loans as MS. Is that correct Keeton?
You know I wasn't quite thinking of it like that.
I think while you're in the interest free period, the concern wouldn't be there because even though you're making the initial payments, you acquired tangible assets. These assets, at least for me, give the security that the retail purchases i'm making through crowdfunding are still valuable. I consider this to be the worst case because you wouldn't have to worry about reselling at all until the brand you supported failed and you, as one of the people who purchased the inventory, voted to actually receive instead of liquidate.
As the card loses that interest free period, you would want to decide if the cashback, miles, whatever it was you wanted was still good for. As in if you feel comfortable making the payments (which I feel as though you never should should try and hack what you can't afford if it all goes wrong) then you choose too with the full awareness that you're earning cashback or miles and the profit from the brands selling your inventory.
It this was a loan outright, I wouldn't personally wouldn't feel comfortable with this. I tried it once with p2p on credit and it didn't work the way I wanted, in fact I think that platform closed down shortly after (this is about a year or so ago). I only feel comfortable though because well I'm getting assets, which add that security I was talking about. This security is further cemented when the brands have purchase orders. Barring a rogue wave, somalian pirates, or the ship just getting stuck out there, I know the inventory will sell after net terms once it reaches the U.S.A.
I think while you're in the interest free period, the concern wouldn't be there because even though you're making the initial payments, you acquired tangible assets. These assets, at least for me, give the security that the retail purchases i'm making through crowdfunding are still valuable. I consider this to be the worst case because you wouldn't have to worry about reselling at all until the brand you supported failed and you, as one of the people who purchased the inventory, voted to actually receive instead of liquidate.
As the card loses that interest free period, you would want to decide if the cashback, miles, whatever it was you wanted was still good for. As in if you feel comfortable making the payments (which I feel as though you never should should try and hack what you can't afford if it all goes wrong) then you choose too with the full awareness that you're earning cashback or miles and the profit from the brands selling your inventory.
It this was a loan outright, I wouldn't personally wouldn't feel comfortable with this. I tried it once with p2p on credit and it didn't work the way I wanted, in fact I think that platform closed down shortly after (this is about a year or so ago). I only feel comfortable though because well I'm getting assets, which add that security I was talking about. This security is further cemented when the brands have purchase orders. Barring a rogue wave, somalian pirates, or the ship just getting stuck out there, I know the inventory will sell after net terms once it reaches the U.S.A.