paulr

Lots of offers of 0% up to 15 months on purchases, longer on transfers. Any clever ways to take advantage?

pimmo2000

iTrader: (6)

buy things and don't pay interest ?

stevebt

iTrader: (8)

get ready to swap the money as soon as the interest free period ends, I have done this loads of times and have a drawer full of unused credit cards.
Be careful though as there is usually a time period for balance transfers and a spending spree which is interest free and if you add after that it complicates things for how the interest is repaid.

Most now also limit the monthly payment to stop you paying it off quickly but then just swap to another car of which there is many

Chip

Save up for whatever you want.

jonc

I think it's ironic that you have in the past criticised the banks for offering easy access to credit which translated to irresponsible lending causing the financial crisis, and yet here you are asking for 'clever' ways to swindle the banks.

paulr

Who me......

Its just a thought. With the best isa rate at 3% and savings 1.35%, unless you use the santander 123 for up to 20K AT 3% I was looking for ways to make a bit of interest

jonc

Now you're thinking like a banker! What you want to do is go that step further; loan the money out you've borrowed at 0% to short term borrowers, say a month, and charge 1500% interest! Then with some of the profit and the original repaid capital, loan that out too to others for the same term and rate, keep going.....

paulr

Could you buy an item of furniture on the Internet with say, an 8 week delivery. They charge your credit card. You cancel, and say can you credit it to my debit card. Hey presto, free 18 month loan.

Dingdongler

It is hilarious that paul wants to make money in this way, given everything he has said in the past

It just goes to show all socialists will try and make a fast buck when it suits them, they just don't want anybody else to make it without being taxed to death.

pflowers

That's just bollox, you can only get a refund to the same card you pay with.

SJ_Skyline

Try living within your means?

rossyboy

iTrader: (8)

Back in the days when bank interest could get you 7%, it was worth the effort of maxing 0% credit cards out in cash to invest.

Interest rates are so low now, its not worth the hassle.

....and would you really want to take out a loan to invest in the stock market?

Unfortunately, there is no 'safe' way to invest for guaranteed 5% + return at the moment.

pimmo2000

iTrader: (6)

Make sure you close the accounts down, too many will negatively impact your credit rating, as I recently found out.

paulr

True. The only thing I can think of is put all my spending on a card, money saved into a regular saver, but they are still crap rates.

corradoboy

Max out the card and lend the money to chav ******* at 5,000,000% APR

SJ_Skyline

I thought this was quite a clever use of credit cards, not sure if they are 0% though...