credit card bankroll buffer

[Dynon07 0]

For those of you who are confident in your skills and very responsible people I have a strategy for you. Not only for life but for poker. A few years ago I got a credit card, the limit was only 500 dollars. It was relatively low and I used it to buy food, gas, etc. Then I started to use it for poker. I would buy in with it, and always pay the full balance before the end of the month. Soon my limit went up, it was exciting. Once I started become really confident in my skills , I used my card as a buffer. For example my limit was 2000 dollars. I was a skilled 100 NL player so I used my card until I won , then paid it off immediately. I mean I had 20 buyins, realistically to me it seemed impossible I would even lose 4-5 buyins at those stakes. Basically I have been using my card heavily for gambling and paying it off in full every month. At times I got in some trouble spots with my "real money" and had to dip into credit to recover. For the very serious player I highly recommend this. I picked up another credit about 4-5 months ago and have been doing the same thing. I haven't always practiced the best bankroll management ,however now I feel entirely comfortable. I have 2 credit cards and the limit on one is 6000 and the limit on the other is 5000. This is 11K of money I can use in case my "real money" starts looking in trouble. If you play 100-200 NL having this kind of backup money almost assures you that you never go broke. Just make sure you pay the thing off in full every month.Anyway for any of you guys that wanna play this game to live ,start buidling some credit. My credit score is mid 750's now and I'm getting approved for loans for college very easily now with low interest rates. Plus this is helping me a lot in other aspects of my life. Just thought I would share this with people. If you are a consistent winner and have a lot of discipline I HIGHLY recommend you do this. Anyway let me know your thoughts guys, thanks. Questions I'd be happy to answer them. I've been trying to get myself aligned with better bankroll management every day now.

[50K Volts 0]

Credit cards have the worst rake known to man :wink: If you find one with rakeback, hook me up!50K

[Rags4Me 0]

Get one that awards airline miles and you can fly to Vegas for free too!Seriously, gambling with money on credit that you can't really afford to pay off is usually not a good idea, but good luck with it...

[Royal_Tour 0]

DO NOT TAKE ADVICE FROM THIS THREAD PLEASE!Credit Cards are the worst idea you could ever have with any form of Gambling, Mixed skill or not.That is the most idiotic thing you could do.You should never play poker with money you dont already have. And further more, if you do have money set aside to pay off the credit card, perhaps it would be more beneficial to simply use that money 1st, before you end up using your card, and winning, and then spending your cold cash on other stuff before a big dip or downswing hits, and you're screwed

[InertGrudge 0]

DO NOT TAKE ADVICE FROM THIS THREAD PLEASE!Credit Cards are the worst idea you could ever have with any form of Gambling, Mixed skill or not.That is the most idiotic thing you could do.You should never play poker with money you dont already have. And further more, if you do have money set aside to pay off the credit card, perhaps it would be more beneficial to simply use that money 1st, before you end up using your card, and winning, and then spending your cold cash on other stuff before a big dip or downswing hits, and you're screwed

Besides going up to the cage, giving them 5k, punching yourself in the balls, and then walking away...I agree

[psujohn 0]

http://www.ncpgambling.org/'nuff said.

[Dynon07 0]

It's not money that you can't afford, you have the thing in case things go horribly wrong. If you have 5K credit and you play 100 NL tables there is no way in the face of the earth if you are possibly good at all you could lose that money. NO WAY. The key is to be really really careful with it. Get the card now to start when you have a good bankroll. Purposefully max it and out and pay it back with money that you have. This is just used to get yourself a buffer incase things go terribly wrong. DO NOT get the card when you have insufficient bankroll and roll with money you don't have thats a terrible idea. Be very very responsible and careful with it. Again I recommend this to players with a winrate over 70%, people who are playing this game to live, people who have a lot of discipline with their money, and people with a steady strategy.

[Dynon07 0]

Seriously, gambling with money on credit that you can't really afford to pay off is usually not a good idea, but good luck with it...Right I agree with that, you want to boost the limits while you in good standing and make sure you pay the full balance every month.And in the situation that things go terribly terribly wrong. The card is there incase you have to rely on it. For example if you go broke somehow and you have 5-6K credit. You can almost be assured if you have any skill at all there is no way you can lose if you are playing 100 NL tables. If you do go bust, play super low stakes till you recover your credit buyin and slowly recover the money you lost in the past.

[Figger 0]

A fool and his money...

[theredpill99 0]

Yeah, that is horrible advice. Also, 11K in credit is nothing. I've had like 80K in credit at one point but sometimes you go too far and then they start taking credit away from you so be careful. I got credit taken away from me but it's going back up now.

[Dynon07 0]

Excuse me people, this forum is entirely ridiculous.How is having a good bankroll and practicing safe credit practices to build you credit a terrible idea? No one listens at this place seriously. You buy in with money you have, then just pay it off. Nothing stupid about it.So if we take 2 situations. The person who tried this and the person that didn't. Person 1 and 2 have 5K each.Person 1 and 2 go broke.Now person 1 has no money , he can't do anything he can't buy anything. Say he has a job he has to wait to do everything and his life is completely miserable.Person 2 has 5K credit that he has been building RESPONSIBLY during his poker career. He now has money to live, until he gets the money he lost back by working, or he can play super low stakes with his card and win back money slowly at a time. Obviously playing with credit is semi dangerous but person 2 STILL CAN LIVE. He doesn't even have to play if he feels its too dangerous. He can just work till he gets money again if he wants to then try again, but at least he can buy things and live.Again try this if you are responsible.No one listens. Use poker to build your credit with money you HAVE, not money you DON'T.

[nritchi3 0]

Seriously' date=' gambling with money on credit that you can't really afford to pay off is usually not a good idea, but good luck with it...[/quote']Right I agree with that, you want to boost the limits while you in good standing and make sure you pay the full balance every month.And in the situation that things go terribly terribly wrong. The card is there incase you have to rely on it. For example if you go broke somehow and you have 5-6K credit. You can almost be assured if you have any skill at all there is no way you can lose if you are playing 100 NL tables. If you do go bust, play super low stakes till you recover your credit buyin and slowly recover the money you lost in the past.

THIS IS THE DUMBEST THING IVE EVER HEARD. I almost think this thread should be blocked to avoid new people reading it and trying this. When you use a credit card it becomes harder to track your money. Just to be clear using credit is not money you have thats why its called credit. GET A NETELLER OR FIREPAY account put money in and use only that money.

[Socko669 0]

For those of you who are confident in your skills and very responsible people I have a strategy for you. Not only for life but for poker. A few years ago I got a credit card, the limit was only 500 dollars. It was relatively low and I used it to buy food, gas, etc. Then I started to use it for poker. I would buy in with it, and always pay the full balance before the end of the month. Soon my limit went up, it was exciting. Once I started become really confident in my skills , I used my card as a buffer. For example my limit was 2000 dollars. I was a skilled 100 NL player so I used my card until I won , then paid it off immediately. I mean I had 20 buyins, realistically to me it seemed impossible I would even lose 4-5 buyins at those stakes. Basically I have been using my card heavily for gambling and paying it off in full every month. At times I got in some trouble spots with my "real money" and had to dip into credit to recover. For the very serious player I highly recommend this. I picked up another credit about 4-5 months ago and have been doing the same thing. I haven't always practiced the best bankroll management ,however now I feel entirely comfortable. I have 2 credit cards and the limit on one is 6000 and the limit on the other is 5000. This is 11K of money I can use in case my "real money" starts looking in trouble. If you play 100-200 NL having this kind of backup money almost assures you that you never go broke. Just make sure you pay the thing off in full every month.Anyway for any of you guys that wanna play this game to live ,start buidling some credit. My credit score is mid 750's now and I'm getting approved for loans for college very easily now with low interest rates. Plus this is helping me a lot in other aspects of my life. Just thought I would share this with people. If you are a consistent winner and have a lot of discipline I HIGHLY recommend you do this. Anyway let me know your thoughts guys, thanks. Questions I'd be happy to answer them. I've been trying to get myself aligned with better bankroll management every day now.

TP/MM

[insano 0]

Yeah, that is horrible advice. Also, 11K in credit is nothing. I've had like 80K in credit at one point but sometimes you go too far and then they start taking credit away from you so be careful. I got credit taken away from me but it's going back up now.

Counting on your mothers credit cards is -ev.

[SuitedHooks 0]

so the only way to build credit is to get a credit card and use it for gambling online?or you can get a credit card with special cash back for gas purchases or whatever, have a fulltime job, use the card for getting gas and pay it off every month.....whenever the words credit card and gambling are in the same sentence....you have issues

[Royal_Tour 0]

And in the situation that things go terribly terribly wrong. The card is there incase you have to rely on it. For example if you go broke somehow and you have 5-6K credit. You can almost be assured if you have any skill at all there is no way you can lose if you are playing 100 NL tables. If you do go bust, play super low stakes till you recover your credit buyin and slowly recover the money you lost in the past.When things go terribly wrong?? You think resorted to credit is the solution??dear god kid. You say you cant lose 5k like its a fact.Poker is gambling no matter how you slice it, and fact is, you CAN lose all your money.Stop for a minute and listen to what we are telling you. You are better off to play with a set amount of money. If that money goes broke, you are broke.You should never resort to credit, or borrowed money.claiming Bankruptcy should not be in a 20 year old vocab.PS.Who are the 5 all time best players of all time, Dynon, Dynon, Dynon dynon and Dynon, cuz he spits hot fire

[txag007 0]

DO NOT TAKE ADVICE FROM THIS THREAD PLEASE!Credit Cards are the worst idea you could ever have with any form of Gambling, Mixed skill or not.That is the most idiotic thing you could do.You should never play poker with money you dont already have.

[Stugots Flush 0]

This kid will be bankrupt by the time he hits 25 or 30. As stated above playing with credit is one of the worst things to do while gambling. This thread should just be deleted before all the 18 years old kid start applying for cards to get a bankroll..... I know folks that are still paying purchases off on credit cards that they made 5 years ago... Your a fuxing moron if you use your cards for poker or any other gambling.What happens when you go bust and you have to pay that %19 on top of what you owe. opps

[Jeepster80125 0]

11K is 55 big bets at a 100-200 limit table. What happens when variance kicks you in the balls?What happens when you dip into your credit card balance, and can't pay the balance at the end of the month? What is the interest rate on 11K these days?

[crocd99 0]

DO NOT TAKE ADVICE FROM THIS THREAD PLEASE!Credit Cards are the worst idea you could ever have with any form of Gambling, Mixed skill or not.That is the most idiotic thing you could do.You should never play poker with money you dont already have. And further more, if you do have money set aside to pay off the credit card, perhaps it would be more beneficial to simply use that money 1st, before you end up using your card, and winning, and then spending your cold cash on other stuff before a big dip or downswing hits, and you're screwed

Besides going up to the cage, giving them 5k, punching yourself in the balls, and then walking away...I agree

at least what you said can save you some time. i see no benefit to the credit card thing. so the credit card thing is even worse then what you said.

[Dynon07 0]

I understand what you are saying Tour. It makes sense. Just saying for people that play this game for their primary income should have a backup plan or some extra money around incase they need it. So I guess I would just recommend having a good credit line for serious players, I'm just know if I have 11K credit and I am positive if I play low tables I will come out of the hole. Just don't want to go broke. Having a huge deal of money in the background is never a bad idea.

[Dynon07 0]

You guys are right I'll be bust in a few years then I can post about it so you can say "I Told You So"......Ha this place is wonderful. Everyone on this forum can lose their entire bankroll with a smile on their face cause it's money they responsibly put aside just to gamble with.... Give me a break you guys live in the most ideal world of all time.

[Royal_Tour 0]

I understand what you are saying Tour. It makes sense. Just saying for people that play this game for their primary income should have a backup plan or some extra money around incase they need it. So I guess I would just recommend having a good credit line for serious players, I'm just know if I have 11K credit and I am positive if I play low tables I will come out of the hole. Just don't want to go broke. Having a huge deal of money in the background is never a bad idea.

Dynon, thats the issue at hand.There is NO backup plan in Poker.The backup plan is find a job.seriously. You can PM DN, or I can talk to him and post his exact words, but trust me,he started off making money off his friends, and clubs in Toronto, then would fly to vegas, go bust, and start all over again making cash off his friends.I've gone bust before, after having a 3k BR of cold hard cash, i lost it all, and restarted at a lower limit again.Honestly, going bust and restarting at a lower limit is almost more beneficial in the long run, because you learn from your mistakes.

[MikeJohnson724 0]

Why use a Credit Card? I just call up the Italian Mafia and borrow about 10k from them and pay them off at the end of every month. :shock: Are you a moron?

[Abbaddabba 0]

There's nothing inherently bad about using credit to finance these sorts of things. It's just that all the people who would ever need to use credit are the ones who shouldnt be using it.

Again I recommend this to players with a winrate over 70%, people who are playing this game to live, people who have a lot of discipline with their money, and people with a steady strategy.

You dont have a lot of discipline with your money. If you did, you wouldnt be in a situation where you need to borrow that kind of money - absent of a major financial crisis in your life. If you did just happen to hit a rough spot, then your poker can wait.And what the hell is a 70% winrate?