How to Make Money on Credit Card Offers

By Nathaniel Miller

  • Overview

    In the day and age that we live in, where the lending markets are wishy washy, the dollar doesn't stretch as far anymore, and job security is a thing of the past, many families may be wondering how to make a little extra money on the side, with little or no risk. Normally, credit cards are a way to purchase items online, defer payments on a particular purchase or tide you over in a budgetary valley. However, all too often credit cards lead to living a bit above your means and letting banks and lending institutions cash in on the interest from your payments. There is a way that you can make money from credit card offers too however, and this article aims to show you just that. This process is proven, legal and legitimate.
    • Step 1

      Begin by researching credit card offers on the Internet. There are a variety of ways to go about this, but the link below provides a site that will provide a side by side comparison of cards. You want to find a card that you can apply for with your credit history and that offers these terms: 0% APR for 12 months, No balance transfer or check-writing fees, $10,000 or higher credit line. Once you find those terms or something very similar, apply for and get the card.
    • Step 2

      Research CD or money market accounts on the Internet or with your local bank representative. You are now looking for an account that guarantees a return of seven to eight percent on investment, will allow you to withdraw funds at monthly intervals, and close the account within 12 months with no penalty. Pick a fund and open the account with a check written from your newly opened credit card account.


    • Step 3

      Place the maximum amount of money available in the CD or money market account and then just let the returns roll in.
    • Step 4

      Each month when the credit card statement comes in the mail, pay the minimum balance with the money market account. After 12 months, close the money market account and pay the balance on the credit card off with that money. You should then have a few thousand dollars left over in interest earned from the money market account to use toward a vacation, new car or paying off other debts.
    • Skill: Moderately Easy
    • Ingredients:
    • Calculator
    • Tip: It may not seem like much ($1,500 to $3,000 over the course of a year), but it is money you got from the banks for doing next to nothing and it was virtually risk-free.
    • Warning:
    • Do not settle for a credit card that offers zero percent APR for fewer than 12 months as there are other cards that offer these terms and less than 12 months of interest will not net you very much gain in a money market.

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