Free money?? Get $1,250 for free a year

[bennylong]

I got this offer from Discover Card with 0% APR for the life of the balance.

Now if I can find a CC that lets me write out a check for $25,000 without charging me anything, that means I can make $1,250 for free a year based on 5% interest.

Anyone playing this CC arbitrage game?

 

[Reckoner]

I might be partaking in this soon. How much would the minimum purchase be on that amount is what you need to find out.

 

[bennylong]

forgot to mention, that offer is for a balance transfer. $29 maximum for the balance transfer. Sounds like a good way to make money. Too bad I just tore it up.

 

[brtspears2]

I got the same offer from Discover, but you have to make 2 purchases a month.

 

[randomlinh]

Originally posted by: brtspears2
I got the same offer from Discover, but you have to make 2 purchases a month.

fine text FTW. discover does this all the time. rarely have i ever seen a decent deal from discover in terms of balance transfers. old roommate however was on the phone w/ them for like 4 hours to bring those terms down to 1 purchase a month w/ no minimum.. so he could buy a pack of gum every month.

 

[Strk]

Originally posted by: brtspears2
I got the same offer from Discover, but you have to make 2 purchases a month.

Use it for gas -- problem solved.

Oh, and what's giving 5% interest?🙂

 

[bennylong]

I thought the 2 purchase a month was for new purchase to extend the 0% APR, not transfer balance. Then again, I didn't really read it.

 

[brtspears2]

Originally posted by: Strk

Originally posted by: brtspears2
I got the same offer from Discover, but you have to make 2 purchases a month.

Use it for gas -- problem solved.

Oh, and what's giving 5% interest?🙂

Problem made worse you mean. The payments will make will go towards the 0% balance before the normal purchases.

 

[brtspears2]

Originally posted by: bennylong
I thought the 2 purchase a month was for new purchase to extend the 0% APR, not transfer balance. Then again, I didn't really read it.

Exactly. You need to make two purchases to keep your 0% on the transfer. It is the Discover Platinum card, right?

 

[Reckoner]

Originally posted by: brtspears2

Originally posted by: bennylong
I thought the 2 purchase a month was for new purchase to extend the 0% APR, not transfer balance. Then again, I didn't really read it.

Exactly. You need to make two purchases to keep your 0% on the transfer. It is the Discover Platinum card, right?

Just make a payment to Cingular (or whatever cell phone company) for 1 cent twice a month.

 

[brtspears2]

Just dug the offer from my "to shred" pile. You need to make at least 2, $1 purchases a month. Min payment is 1/15th of balance. So $25000, $1,667 due first payment.

 

[SoulAssassin]

This has been heavily covered in the nearly 3 year old FW Finance thread here. Everything you need to know is in there.

/thread