£5,000 to invest for 6 months

emuusee

My credit card company has offered me £5K on 0% interest until October 2006. Has anyone any suggestions on the best way to invest this to earn the maximum interest. I obviously don't want to take any risks with the 5 grand investment.

dang

5.15% is about the best savings rate you will get -

http://www.icicibank.co.uk/personal...gs-account.html


edit -

or stick it in a isa,and try and transfer the balance to another card just before they start charging.

grumbler

emuusee wrote:

My credit card company has offered me £5K on 0% interest until October 2006. Has anyone any suggestions on the best way to invest this to earn the maximum interest. I obviously don't want to take any risks with the 5 grand investment.

The key question is whether they charge a fee for transferring this amount to a current account. If the fee is 2% and uncapped, this is an equivalent of about 5% APR that is more than 4.12% net (for 5.15% AER if you are a taxpayer) ...

emuusee

They are charging a special £35 set up fee.

dang

do the sums here -

http://www.whatsthecost.com/stoozing.aspx

You are looking at making £46 net.