- The payment date for different cards could be on different days, so you might actually need 3 cards to do this looping of credit cards.
- The moment you actually draw cash out of the credit card, you will incur an administrative charge and an interest rate.
Hence i cannot comment on how well it will work in Singapore or, yet.
The best option is the legitimately use the card to purchase something in which you can draw out the money. As of what this option might be..i have not though of it yet. If any one has any ideas? Feel free to email me at email@example.com
Apparently DBS credit cards can be used to pay for diners club and American Express cards, link for DBS at : http://www.dbs.com.sg/sg/personal/ibanking/paymentsvc/
Credit problem ( Updated 2nd Dec 2008)
Apparently doing the rolling of money will affect your credit status, and will affect your ability to get a loan, like housing and car loan from the bank. So i guess you should only reserve this idea when you are really in need on cash.