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    Has anyone tried the credit card 0% savings account thing

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    Has anyone tried the credit card 0% savings account thing. Where you get a 0% credit card for a limited time and take the money out for investment, i.e. savings account, and ever made any money.

    I known for balance transfers they tend to charge a fee, which I think usually outweighs the money made via the savings.

    Oh I understand the student overdraft accounts are great for this, as there are no withdrawal fees

    7 Comments

    You could do it the other way around - use the card to buy stuff, and then just move the real money to a savings account via BACS.

    Think you have missed the boat on this one, savings rates are crap now compared to a year ago when you could get 6-7%

    Original Poster Banned

    deanos;5702755

    Think you have missed the boat on this one, savings rates are crap now … Think you have missed the boat on this one, savings rates are crap now compared to a year ago when you could get 6-7%



    Yeah I realise that, but I just wondered if anyone ever sucessfully made any cash from it :thumbsup:

    Original Poster Banned

    Jakg;5702729

    You could do it the other way around - use the card to buy stuff, and … You could do it the other way around - use the card to buy stuff, and then just move the real money to a savings account via BACS.



    What real money? Oh I get it, you use the credit card for all your purchases and move the money you have in your current account set aside for this into your savings. Yeah I suppose that would work,

    it worked well for me.. i did it with a 9 month interest free on purchases and made all my work payments on the card. Moved all my claim money to a high interest account, and paid off the card after 9 months.. easy money

    unileeds;5703400

    it worked well for me.. i did it with a 9 month interest free on … it worked well for me.. i did it with a 9 month interest free on purchases and made all my work payments on the card. Moved all my claim money to a high interest account, and paid off the card after 9 months.. easy money



    and made how much profit?

    well a 1000 a month on average is what i spent on my card. Assuming £9000 at 5.5% for 9 months.. roughly £250-£300
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