Question:
Everybody knows using a credit card at the ATM or bank will qualify the transaction as a cash advance and cash advances carry a rather high rate. However today I heard a bit on the news;how to make money off of the credit card companies rather than them making it off of you. It featured some investment guru who talked about using available balances on credit cards for investments that have a higher rate of return than the credit card carries. I have a 0% until July 2007 with plenty to invest if I decided to do this, but how would I avoid the cash advance rate if it would be regarded as cash? Are there any investments that would list the transaction as a purchase? Please help, I am confused.
Did they supply you checks? They charge a flat fee for checks and count it as part of the 0% promo. Capital One, Bank of America and others do this. Also call your credit card company, they may be able to help you on how to use that credit to invest.
If you're looking to invest in something with good returns, take a look at the book below. I did the same thing a while back.
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