Quote:
Originally Posted by redpoint5
During the no interest period, they monetize the credit and place the money in a safe, interest-bearing account such as a rewards checking account. At the end of the free interest period, the card is paid off in full, the investment interest is kept, and the process is repeated.
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So where do you find a checking account that pays more than token interest these days?
But I've been doing the 0% interest credit card thing since '08, one card at a time. Spending goes on the current card, which is paid off just before the 0% period expires, when I get another 0% card. Meanwhile the money I'd normally spend to pay the card in full each month sits in an index fund.