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MTAtech · May 24th, 2005, 09:33 AM

Last week I got checks from one of my credit cards offering a 0% cash advance (except for a $65 fee) until January 2006. Since I have five credit cards with the same bank, I called them to ask if I could consolidate credit lines to this account. They said ‘sure’ and moved around credit so that I had a $101K credit line.

I then asked them to do a balance transfer into my checking account for $100K. On Monday, I searched around for the best 6 month CD rates. As it turned out, this same bank has the best CD rates. So, I opened an account for the CD with them. The CD will mature before the 0% offer expires and then I can pay it back.

The bottom line is that I’m using the bank's money – borrowed at 0% and investing it with them for six months and earning about $1,800 in interest.

$1,800 earned taking no risk and doing no work. America is a great place.

May 24th, 2005, 09:33 AM	#1 (permalink)
MTAtech Light to Counter the Dim Join Date: Oct 2001 Location: Long Island, NY, USA Posts: 6,705	0% Credit Card Offer Last week I got checks from one of my credit cards offering a 0% cash advance (except for a $65 fee) until January 2006. Since I have five credit cards with the same bank, I called them to ask if I could consolidate credit lines to this account. They said ‘sure’ and moved around credit so that I had a $101K credit line. I then asked them to do a balance transfer into my checking account for $100K. On Monday, I searched around for the best 6 month CD rates. As it turned out, this same bank has the best CD rates. So, I opened an account for the CD with them. The CD will mature before the 0% offer expires and then I can pay it back. The bottom line is that I’m using the bank's money – borrowed at 0% and investing it with them for six months and earning about $1,800 in interest. $1,800 earned taking no risk and doing no work. America is a great place. __________________ "The Bill of Rights is my Patriot Act."