Originally Posted by M Brian
using credit cards to pay off credit cards and get free money! - think they call it interest free balance transers and thats going cracking at the moment
that actually works. you apply for a credit card that is interest free. max it out by writing a cash cheque to a savings account.
then set up a direct debit to pay the minimum payment each month.
then your earning 5% on the money and not paying any interest on the money you borrowed.
once the interest free period is over. draw the money out of the savings account. pay off how much is left on the credit card and all the interest youve made is yours!