Making Money With Balance Transfer Credit Cards

Balance transfer credit cards have been out for some time. These cards are specifically designed for consumers to be able to pay off high rate credit cards with a lower more managable interest rate. However there are other ways to use them. Some people use them to make money and here’s how. Balance transfer credit cards usually come with a 0% introductory interest rate and in most cases will allow you to transfer money directly to your checking account. If you qualify you would take out a card with $20,000 available and transfer that money into a high yield savings account for the duration of the 0%. Once the interest rate goes up to the standard rate you would take the $20,000 and pay off the card keeping all of the interest you have earned. Over the course of a year in a 5% savings account that would accumulate to $1000.00. To take advantage of this find your balance transfer credit card at JemCreditCards.com