Get Interest Free Cash With 0% Balance Transfers

If you have a great credit rating and no debt, then you could be in line to make some money. And you can do it using the tools that credit card tarts have been using for years.

The Credit Card Tart System

Credit card tarts have used the incentives offered by lenders to their advantage for quite a long time. These incentives often consist of 0% interest on balance transfers for a fixed period of up to 12 months. Borrowers who have a debt apply for a new 0% credit card and transfer that debt to the new card. They make repayments as they normally would, but the balance owed is reduced since no interest is being charged.

When the incentive period is due to end, credit card tarts look around for a new 0% deal. They apply for the new card at least six weeks before the expiry of the old 0% deal, so they have plenty of time to transfer the outstanding balance onto their new 0% card.

This serial card switching allows borrowers to clear debt without paying any interest. Lenders have begun to fight back as they are losing hundreds of thousands of pounds' worth of interest. Many of them now charge a balance transfer fee of about 2%. However, there are still some fee free balance transfers available, which is good news fro debt-free consumers looking to use the system to make some money.

How To Earn Money On A 0% Card

To make money from a 0% balance transfer card, it is necessary to have a good credit rating and to get two new credit cards. One credit card has a 0% balance transfer rate. This must be a card that does not charge a balance transfer fee. The second allows credit card cheques at no additional charge.

The borrower can use the balance transfer card to transfer a sum of money onto the card that allows credit card cheques. The borrower can then write a cheque for that amount and pay it into a high interest savings account. This strategy only works if the interest earned is more than the amount being paid. Borrowers can use the same technique to get a low interest loan. Long term balance transfer rates are lower than standard interest rates on loans.

But Is It Legal?

There is nothing to prevent borrowers from using their cards in this way. As long as they make repayments on time and in full, there are unlikely to be complaints. It is also essential to keep credit card applications to a minimum so there are no red flags on the borrower's credit report. There's no reason why borrowers who stick to these rules and make payments on time shouldn't make a bit of money from their credit cards. And while they're shopping around for the perfect credit cards, it's worth checking out the other incentives as well.

Joe Kenny writes for the personal finance sites http://www.cardguide.co.uk and also http://www.ukpersonalloanstore.co.uk.

Anchorage Airfare34948
Cancun Airfareeuqtohip
Free Landscaping Design Programysaniq
Leather Office Furnituremfnercneus
Adoption Ontariofnxigwadosb
Cover For A Hot Tub23012
Airfare Bahamas98859
Ryan Air Airfare14695
Delray Beach Landscape Architect34827
Pennsylvania2c Pa Hot Tub Jacuzzi2456
Office Furniture Philadelphia66288
Chief Architect 95 Download69995
Typical Depression Diabetes Type 2vwr
Cheap Airfare Travel78807
Wedding Prayers85308
Adoption Studies48486
Huntington Beach Teeth Whitening95985
Agencies Heart Of America Adoption190
Chief Architect Key Code17489
Boston Teeth Whitening54451
Hot Tub Bacteria58431
Furniture Office Design35422
Thailand Landscape Architectjbhhwfvon
Custom Hot Tub19280
Real Estate Architect97979
Landscaping Timber13912
Illinois Adoption Agencyktynto
Quotes For Car Insurance70438
Architect Jobs Uk54711
Discount Airfare To Maui87327