Could I go to jail for this?
A long time ago I got myself into $5,000 worth of debt. I REALLY want to take this trip but I have literally no money. Could I go to jail if I get another credit card through another company and then spend on that credit card even though I don’t have money to pay it back and it’ll probably be a looong time before I can pay it back? I want to use the credit card for a flight, hotel, food, etc.
So could I go to jail for making out the new credit card and not being able to pay it back right away
- SCATTY cLv 66 months ago
This is 2020, not 1840. There are no longer debtor's prisons.
What will happen is this... IF, you get another credit card, and it's a big IF and it's also a big if, that you get one with a big enough credit limit to cover the cost of flights, hotels and other costs, and you don't make the repayments, you will end up owing far more then the original sum.. And, you will be back to having bad credit again. So issues renting an apartment, getting any sort of a loan etc.
Is this trip really worth that?
- Jewel LittlenutsLv 76 months ago
If you borrow with no intention to pay back it's fraud but you say not being able to pay it back straight away? You don't normally have to pay a credit card back straight away and even though it's unwise to borrow to pay another debt it's not illegal, so long as you intend to pay the minimum payments at least. Have you looked at balance transferring instead of doing that? You apply for another card, tell them that you want to move the balance of your current card to them and in return for them getting a new customer, they give you 0% interest for a few months, it would be cheaper than getting a new card and then using it to pay the card you have. Plus some people answering here are wrong, you don't necessarily get turned down just because you have outstanding debt but I would advise a balance transfer rather than just using one card to pay another one because there is a period of no interest.
- 6 months ago
You would not be approved for more credit. Being unable to pay isn't a criminal offense . Purposely defrauding a card company is.
- Anonymous6 months ago
You would not be approved for more credit. Being unable to pay is not a crime. Purposely defrauding a card company is.
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- curtisports2Lv 76 months ago
That is the textbook definition of fraud. You have no intention of paying this money back.
- ?Lv 76 months ago
What makes you think you'd ever get approved for a credit card with a high enough limit for a trip if you've got $5,000 of debt you didn't pay?
- Ender772Lv 76 months ago
techologoy has improved in that long time...just asking to get caught...there is no way it ends nicely for you
- Anonymous6 months ago
Borrowing money with no intention of paying it back is a crime. I don't have any statistics but I doubt many people are convicted of this and probably zero that borrow $5,000 ... it's just not that much money. Plus the DA & credit card company will have to prove your lack of intention. That said, your scheme is not a good idea because it will do long-term harm to your credit history. But then again, some trips are really worth the hit!
- Wayne ZLv 76 months ago
Technically, running up debt without an intention of paying it back is fraud.
However, if you don't have a credit card now, you probably won't get one with a $5000 limit. You would be lucky to get a $500 limit.