free money from interest free 45 day period

padington

When you buy something with your credit card which has a 45 day after purchase interest free period, there must be a way of making this money earn interest. Does anyone have a solution?. It seems that a there could be a niche in the market for an on-line 'share casino' where 'share bets' are honoured and can be bought and sold intantly .....or Could you buy something from yourself/friend for £5000 on an ebay/paypall acount to access the money then do something clever with it before returning it back to your credit card account so as not to accrue any interest after a month or so? This would net enourmous yields, imagine all your credit cards earning interest on their full limit for one month in every two. Please discuss...

greenwich

Welcome to MSE!

You probably don't realise that when you pay by credit card, the shop only gets around 96-97% of what you pay. The credit card company gets the remaining 3 or 4%. If you tried your idea, you would certainly earn interest on the cash for 45 days as you wish, i.e. around 0.5% or less. But you would lose 3 or 4% to the card company.

mountainofdebt

But don't paypal charge you for receiving money?

realaledrinker

The money IS earning interest by remaining in a top paying current account at 5+% for up to 59 days before you have to pay off the balance on the card!!