Half a croissant, on a plate, with a sign in front of it saying '50c'
h a l f b a k e r y
Not so much a thought experiment as a single neuron misfire.

idea: add, search, annotate, link, view, overview, recent, by name, random

meta: news, help, about, links, report a problem

account: browse anonymously, or get an account and write.

user:
pass:
register,


   

Credit card zero interest period arbitrage service

 Taking advantage...
  (+1)
(+1) 		  [vote for,
against]

This idea is for a service to give you free money.

If you have a good credit rating, you can sign up with this service. They will apply for a couple of credit cards on your behalf which have a 6 month zero interest period on transferred balances. One card is used to buy an investment fund from the Company, which pays, say 4% interest. This card contract is then closed and the balance transferred to the other card. You receive the interest on the investment for 6 months (less a cut taken by the company) after which time they transfer to another card, and so on.

Of course it's possible to do this yourself and make a few hundred pounds a year out of it, but this service would do all the credit card applications, timetabling and juggling on your behalf.
—hippo, Oct 28 2004

Please log in.
If you're not logged in, you can see what this page looks like, but you will not be able to add anything.
Short name, e.g., Bob's Coffee
Destination URL. E.g., https://www.coffee.com/
Description (displayed with the short name and URL.)






       Speaking as a long time banker here... Such introductory offers are usually handled through third party originators, who report all applications to, and check with, credit bureaus. By the time you got to the fifth or sixth card, you'd probably have destroyed your chances of getting cheap finance for about ten years.   

       Read the fine print on the offers. Somehow, someday, someway...you'll pay!
—ConsulFlaminicus, Oct 28 2004
   


 

back: main index
business  computer  culture  fashion  food  halfbakery  home  other  product  public  science  sport  vehicle