Real Life Cheat Code
Have you considered trading on margin? What even is margin?
Let’s say you have $250 to invest. You borrow another $250. You invest $500, say maybe you buy 200 SENS and sell 2 calls , for a $80 credit. You pay back the $250. You now have $330.
That’s margin in a nutshell. There’s…a lot of other stuff to it, which we won’t get into because it won’t matter. None of what I’m referring to will apply to the Upgrade account. Except for the part about borrowing money.
Notice I didn’t say anything about paying back with interest? Yeah. So what Upgrade offers is a personal line of credit you can draw on for cash advances, or draw on with the Card and use like any other credit card.
Besides being able to buy stuff on credit, it works differently. All your purchases for the month get lumped into a single loan for 24 months with fixed rate. So if rates go up or down next month, it won’t affect your minimum payments. Think of it how you pay your car loan. Same thing, really. But not.
No annual fee. I heard from a third party that Upgrade plans on introducing a 1% cashback - on payments made. So if you find yourself needing to make monthly payments, that effectively lowers your interest rate by 1%. I doubt the math is that simple, but the end result can’t be too far off.
The amount I was approved for went down because I used my “real” job for employment. Kinda wish I had my LLC up and running so I could put myself into a lower-risk category. Oh well, not really the important part. So if you can be an investment banker, instead of a cashier, it kind of helps. I qualify for neither of those things.
So what incentive do you have to open another line of credit and expose yourself to a hard inquiry? So we’ve established you can use the card exactly like your current credit/debit, which is convenient. However when you simply make a draw on your credit, the funds go directly into your bank account.
What does this mean?
NO FEE CASH ADVANCE
TRADING ON MARGIN WITH NO RISK OF MARGIN CALLS
Yes. You can borrow the money for a week, pay it back, and you have a zero balance with no interest paid. If you get lazy or make a mistake, the first payment won’t even be due for 51 days, I believe, so there’s that cushion as well.
Even if you just never payed it back, that $250 generating $40/week covers your monthly payment (which would be roughly $13). I honestly don’t know why you wouldn’t just pay it back and close the loan before that, though I guess it’s really none of my Goddamn business. Hm, let’s do that here for a second…
51 days/7 = 7weeks+
7weeks x $40 =280
With 2 days remaining, you pay back the $250. Leaving you with $280. For free.
1/19/2020 3:20 PM
I just finished hashing this out in time to look at the TV. I’m watching America Uncovered, and at 3:10 in there is an image that accompanies the discussion about Twitter banning people. Apparently Ron Paul and some group of people that changed political affiliation together were targets. I’ll have to re-watch it. Anyway there appears to be a tweet from Parler, addressed to people that complained about being banned on Parler.
“ - When you disagree with someone, posting pictures of your fecal matter in the comment section….”
“ - …..name cannot be obscene like “CumDumpster” “
“ -No pornography. Doesn’t matter who, what, where, when, or in what realm “
“ - You cannot threaten to kill…..”
LMFAO What circumstance led to Parler responding to its users on Twitter having to explain the basics rules of every social media app on the App store? …Why did Parler get shut down? Do the people at Parler know they can distribute their app on the internet, without Google Play? At what point did disagreeing with someone become a pre-requisite to sharing poop pics online?
Re-reading the quoted rules of Parler, I gotta say it sounds kind of boring. I don’t even feel comfortable talking to people unless their name is CumDumpster and they’re selling me vintage porn from other realms.
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