How to Make Money Using Your Credit Card Offers

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By Julia Fuller
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Bank Statement

Do you have an excellent credit rating? If you are not sure try going to one of those free credit report sites and find out. However, typically when you have a high credit score, credit card companies send you offers. You receive offers for low-fixed rate cash advances. Some examples of credit card offers you might receive are zero percent for six months or 1.99 percent indefinitely. How can you make money using your credit cards when you receive these offers?

Difficulty: Moderately Easy

Instructions

Things You'll Need:

Low-rate bank card offers
Savings account
Super saver
Certificate of deposit CD

Step 1

Open those low-rate offers that you receive from your credit card companies. Be sure to read the fine print about the terms and fees.
Step 2

Choose offers that are significantly below the current interest rates being offered on Super Savers or Certificates of Deposit. Make sure the offers you are taking are good for six months to a year.
Step 3

Write one of the special checks included with the offer and deposit the money into your Super Saver or CD account.
Step 4

Earn more interest than you are paying for the fixed period.
Step 5

Write a check

Pay the money back to the credit card company before the fixed period expires. Then you shouldn't have any additional fees or higher interest.
Step 6

Stock Market

Use the money to pay off a higher interest loan or higher credit card debt. If you are paying 15 percent on another credit card, pay that card off with the low rate offer. By the time the low rate offer is about to expire, you should receive an offer from the credit card you paid off earlier. Use the new offer to pay off the card before the low rate expires. You can use this method to keep your credit card debt at a very low rate. Just keep track of the dates that your low rates will expire.
Step 7

Buy everything you can each month with a credit card that offers cash back or instore coupons for dollars spent. As long as you pay your credit card off at the end of each month, you'll pay no interest, but collect cash back from your credit card provider.