Wealth Creation with Interest Free Offers

jetman_2

I know this is a bit off-topic but nonetheless it may be of interest to many that frequent these forums.

I just realised that I could borrow a few thousand with my latest credit card and have only a 2% admin fee and no interest apply to it, if I used the cheque book facility.

I have thought of various strategies on how to create money with the interest free credit. One of the more interesting options was to pay the cheque into my bank account and then purchase a few thousands pounds worth of shares in a pharmaceutical company and then place a stop loss to avoid excessive risk.

I know that share trading can create similar emotions to gambling, and am beginning to back off this plan.

Does anybody have some less riskier strategies on how to profit from interest free credit on cards? Anything considered - auctions, Ebay etc

Rafter

Lowest risk option is to transfer the money into a savings account rather than risk in shares or a business venture (ebay etc).

Other thing is to use an egg card and transfer balances through that to avoid incurring 2% charge potentially?

R.

jetman_2

Thanks for the info. Think I'll ditch the share idea - I've already experienced market wipeout in 2001.

I have an Egg card but wasn't aware I could get cash interest free from it? How can I do that? I have held an Egg card for over a year now.

Cheers

Reaper

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