0% Balance Transfer Arbitrage

Let me introduce to you one of the most popular money hacks out there, it’s called the 0% balance transfer arbitrage game. It’s a really simple game to play and works off a very simple concept. What you do is apply for a credit card, request a 0% balance transfer, and then deposit the funds in a high yield savings account. Let’s say you get a card, get a $10,000 balance transfer, then put it into an ING account earning 4.3% - that’s a little under $430 in your pocket for very little work. You have to make your monthly payments but essentially that’s it. After the period, usually a year, you just withdraw the money and pay off the transfer.

While you’re doing this, your credit score will take a hit so you want to avoid this if you’re planning a major purchase. However, after you’re done, your score will actually improve because you’ll have the history of servicing a loan for a year without any problems.

Here’s a list of credit cards with 0% balance transfers to get you started and if you want to learn more, visit Balance Transfer Arbitrage.

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