Here is how you do it.
I am sure you are bombarded with those credit card deals in the mail offering 'teaser' rate to entice you to apply.
Also, known as 'introductory offers'.
They will usually have a low or zero interest rate for 6 to 12 months.
The best are offers with zero interest rate.
There are plenty, so if you don't have them yet, just watch for one.
Shred the rest away.
Just a side note; please shred all credit card offers you don't want because identity thieves are known to apply on your behalf and change the address.
While you are unaware, thieves are charging on your name.
Just get a $10-20 shredder and shred the credit card applications rather than tossing them in the trash can.
I like the shredders that do diamond cuts because they break it down into small pieces that practically no one can piece together.
Now back to our money making strategy.
After you get the 0% offers.
Go through them and see which one's have 'cash advance fee'.
Shred the ones that have cash advance fee.
Usually the cash advance fee is where credit card companies make their money.
Most have started asking for 3% cash advance fee.
Since that is paid upfront, your actual cost of money is much higher.
Now you will be left with one or 2 good offers with 0% interest with NO cash advance fee for 6 or 12 months.
It is essentially free money.
Take that money and put it in a safe place like a separate money market account.
Mark your calendar when it has to be paid back in full.
Every month your credit card company will bill you for generally 1% of the borrowed money.
Pay it PROMPTLY from this account.
If you don't pay, the interest rate instantly jumps to the current rate of some outrageous amount like 16-24%.
The credit card companies are counting on the fact that you will forget to pay and they 'sock it to you'.
Or you might forget when the full amount is due and again they 'get you'.
Simple strategy, pay their bill every month and when the amount is due in full pay it a week in advance.
Do not charge anything on this credit card because everything you pay first applies to your charges and not towards your cash advance.
Essentially, keep it clean and give no reason for the credit card company to charge you interest.
You will be surprised that you now have a good chunk left over in your account free and clear.
Where did this extra money come.
You borrowed money from credit card company at zero cost.
And you were smart to invest that money in a money market fund (currently 5% or more).
All the time you had their money, you were earning interest on their money.
The money can add up very quickly.
If you borrow your full credit line say $10k to $35k you can have a good chunk of money.
How sweet it is to make money off the credit card companies.
Ask them to send you more offers like that!