Comments on: Credit Card Arbitrage – Introduction

By: A Near Disaster with 0% Balance Transfers » Budget Freak

A Near Disaster with 0% Balance Transfers » Budget Freak — Wed, 25 Jun 2008 14:44:51 +0000

[...] like to nominate myself for ‘Idiot of the Year.’ After explaining all the pitfalls of 0% balance transfers, how dangerous it can be, and how careful you need to track your due dates… I miss a payment. [...]

By: Credit Card Arbitrage: Clever, but not without risks — Dirt Simple

Credit Card Arbitrage: Clever, but not without risks — Dirt Simple — Mon, 28 Apr 2008 22:58:02 +0000

[...] surfing through a number of other personal finance blogs, I stumbled across this concept of credit card arbitrage. It just goes to show you how un-creative I am when it comes to investing, because this technique [...]

By: Credit Card Arbitrage Update » Budget Freak

Credit Card Arbitrage Update » Budget Freak — Tue, 22 May 2007 15:02:18 +0000

[...] you may know, I’ve been making money taking advantage of 0% balance transfers offered by many credit cards. So far, I’ve made over $90, and I’ll be getting another [...]

By: 0% Balance Transfer Update » Budget Freak

0% Balance Transfer Update » Budget Freak — Wed, 18 Apr 2007 13:34:39 +0000

[...] experiment with earning free money from 0% balance transfers is going just fine. I got my first interest payout a couple weeks ago, $26 for about a week and a [...]

By: BudgetFreak

BudgetFreak — Wed, 11 Apr 2007 14:47:37 +0000

Hi Robert- Citi credit cards are the only ones that let you request a balance transfer in the form of a check to yourself. And the WaMu account is a regular savings account. You just have to open a free checking account online, and you'll get the 5% rate. Check out this post.

By: Robert

Robert — Mon, 09 Apr 2007 01:41:10 +0000

So Budget Freak, If I understand the process correctly, you do a balance transfer Payment to your Washington Mutual savings or checking account from your Citi card, even though the balance transfer is not being used to pay off a debt, and then you can earn interest on the money transfered to the W.Mutual account at the going rate for savings account deposits?
So W.Mutual is paying around 4.5% on savings, or Cert. Of Deposit?

This looks interesting. I did not know that you could do a balance transfer payment directly to a bank account. Interesting indeed, if I understand this correctly.

-Robert

By: Two Month-iversary » Budget Freak

Two Month-iversary » Budget Freak — Tue, 03 Apr 2007 21:01:26 +0000

[...] Started earning interest borrowing $16,800 from credit card companies for FREE, taking advantage of 0% balance transfers [...]

By: Opened a Washington Mutual Savings Account » Budget Freak

Opened a Washington Mutual Savings Account » Budget Freak — Mon, 19 Mar 2007 21:20:22 +0000

[...] a $1 minimum to open and no monthly fees. I decided to apply for an account last week to hold my 0% balance transfer money. Even though I already had a Washington Mutual Checking account, I still needed to apply for a new [...]

By: BudgetFreak

BudgetFreak — Wed, 28 Feb 2007 14:47:44 +0000

Thanks for the comment Jim. I actually used your list when I was shopping around for cards, so thanks for putting that together. I’m planning a whole series of 0% balance transfer posts, so the application and card selection process is coming up.

By: jim

jim — Wed, 28 Feb 2007 13:11:42 +0000

BudgetFreak – The whole 0% arbitrage process is painless and definitely worth a try, good intro on the subject, if you need a list of cards without transfer fees (I didn’t want to drop a link here) I’ve compiled one if you want to shoot me an email.