How many cards do you have? I understand it's mostly theoretical but I'm wondering why would anyone want to use their high-interest credit card to borrow even a few tens of thousands? Or any high-interest vehicle of debt for that much money, for that matter.
>but I'm wondering why would anyone want to use their high-interest credit card to borrow even a few tens of thousands?
I don't know, but I'm sure as heck not going to utilize them that much! I am sure the credit issuers wish I did though.
Some credit cards have promotional low or no interest rates for a year or so. You can then balance transfer to another promotional rate card at the end of the year. Also many issuers (Barclaycard, AMEX, Capital One) have low or no interest rates for active duty military.
Here are a couple ideas: lawyer fees during a contested divorce and emergency spending from being out of work too long.