SLC Tortfeasor
Recycles dryer sheets
- Joined
- Jun 17, 2005
- Messages
- 233
There've been threads about making money off credit cards before, but I'm planning a new one and want to share my feelings of smugness.
I currently make about $300 a year off of my Citi Platinum Mastercard (they offer 1% on most purchases, and I think 3-5% on certain purchases like gas and groceries). But I just got an application from American Express for 0% interest on new purchases for 15 months. So I think I'll just start putting all my new purchases on the new Amex card, paying the bare minimum monthly balance. Every month instead of paying off my Amex balance, I'll pay my Emigrant Direct account (currently paying 4.5%) instead.
Even better, at the end of my 15 months of 0% interest with Amex, I'm sure I'll have plenty of offers to transfer my balance to another card also offering 0% for another 15 months. So I'll just transfer the balance, and keep making 4.5% in Emigrant Direct.
I'll be making effortless, no-risk profit off the credit card companies.
I currently make about $300 a year off of my Citi Platinum Mastercard (they offer 1% on most purchases, and I think 3-5% on certain purchases like gas and groceries). But I just got an application from American Express for 0% interest on new purchases for 15 months. So I think I'll just start putting all my new purchases on the new Amex card, paying the bare minimum monthly balance. Every month instead of paying off my Amex balance, I'll pay my Emigrant Direct account (currently paying 4.5%) instead.
Even better, at the end of my 15 months of 0% interest with Amex, I'm sure I'll have plenty of offers to transfer my balance to another card also offering 0% for another 15 months. So I'll just transfer the balance, and keep making 4.5% in Emigrant Direct.
I'll be making effortless, no-risk profit off the credit card companies.