Reader Chris sends in a way to turn credit into cash:
I just discovered a great way to turn credit into cash. This would be great to use with a 0% intro APR card and stick in the bank.
If you go to checkout these have free shipping. You can only order $500 at a time. I haven’t tried doing it multiple times, but in theory you could do it over and over again. I am planning to max out my card and just take these coins up to the bank when they come in, and just pay the minimum payment each month. I’ll then put the money in a money market to get maximum interest. Just thought you might be interested. Thanks again!
In addition to 0% intro APR cards, it may be easier to just buy them with one that offers cashback or other rebates. Are we finally ready for dollar coins in the US? I know $1 paper bills are wasteful, but I still hate carrying around heavy coins. I used to ask for Sacagawea $1 coins for bridge toll booths until I signed up for the electronic auto-debit system.
By Jonathan Ping | Credit Cards | 6/16/08, 4:32am