Eric asked in Business & FinanceCredit · 1 month ago

Is it generous to use a credit card to give $50,000 to charity and then default on paying visa?

Isn’t that a very generous act of kindness? Or not ? Then since you default you can’t go to debt prison for it 

10 Answers

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  • 4 weeks ago

    It's criminal fraud. You can go to prison for that.

  • 1 month ago

    We no longer have debtor's prisons. What you're talking about, however is just idiotic. If you have a credit card with that kind of limit on it, you can certainly afford to pay your bills. It's neither generous nor sensible. 

  • 1 month ago

    No, it is not generous, because you aren't giving anything -- the credit card company is.

  • Anonymous
    1 month ago

    You will never have a credit card with a limit half that much. STOP TROLL.

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  • Scott
    Lv 7
    1 month ago

    No. That should be a criminal act. Fraud.

  • 1 month ago

    I doubt a charity is going to accept this much money via a credit card.

    why?  Because if they do, then the credit card company can come after the charity for reimbursement if something goes wrong. 

  • 1 month ago

    If you are the type of person who would do this, you more than likely have nowhere near $50K in available credit.

  • If you're deliberately donating money knowing you cannot repay it then you could be committing fraud.  I'll point out that credit card companies can (and will) sue you and get judgments against you which can include wage garnishment.  Maybe you don't care today (and maybe you don't work), but when you apply for a job or try to buy a home/rent an apartment (and companies run a background check) this is going to come back to bite you.  

  • 1 month ago

    It is for the charity.  Not so much for Visa, which would be why Visa doesn't hand out too many $50,000 credit limits.  

    Actually it's not even generous for the charity, because in this hypothetical situation, the charity ends up returning the money they acquired as a result of someone else's fraud.

  • Robert
    Lv 7
    1 month ago

    There was a time when I would think you are just being sarcastic, but today with all the snowflake's beliefs of how the economy works, you might actually be stupid enough to believe that.  It sounds like Bernie Sanders economics...the poor people get cash and only a business gets hurt....and of course an idiot like who who ends up in debt for life....but it's all for the good of whatever the hell it is you snowflakes actually stand for.

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