Tuesday, January 8, 2008

Making Money With Balance Transfers

One of my very first posts on Thirteen Thoughts was related to making money using no fee, 0% APR balance transfers. If you missed it the first time, you can read my first post with all of the 'how-to's' HERE.

As I mentioned in my initial post, one of the keys to making money off these offers is making sure that you pay back the balance before the introductory offer expires. I have done this 3 different times and my latest introductory offer expires on February 1. This got me thinking about doing the whole thing again and I quickly noticed that the good introductory offers are drying up fast! Last year, when I looked into the no fee, 0% APR offers, I bet there were 15 different cards to choose from. Today I can only find two:

Citi Home Rebate Platinum Select - 12 months of no interest and no fee on your initial balance transfer

Citi Professional Cash Card - 12 months of no interest, no fee on initial balance transfer

Looks like Citibank might be the only financial institution still offering these deals. Anyway - if you're interested in making some extra money by parking some funds in a high-yield savings account, you should get on it soon as these offers look like they're on the way out!

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