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/biz/ - Business & Finance

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54612651 No.54612651 [Reply] [Original]

Frens, I coom to you seeking halp.
Does anyone have experience with 0% APR introductory balance transfer periods on credit cards?

>be me
>opening junk mail
>a credit card offer with 0% APR on balance transfers for 18 months
>no annual fee on the card
>3% transfer fee

Here is my plan.
Max out my existing credit card for usual purchases (rent, utilities etc), then get the intro offer on the new card.
Pay 3% transfer fee.-- over 18 months this costs me 2.25%

Now I buy a one year US treasury currently yielding 4.6%.
When it expires I then buy a 6 month treasury yielding an 4.65% annualized (6 month yield 2.3-ish%)

I profit the spread.
Today, this would be: 6.9% - 2.25% = 4.6%

Free 4.6%
Citi bank loses it.
I gain it.

How could it go wrong, bros???

>> No.54612663

>>54612651
If you fuck up you're paying the cash advance APR usually starting at 27% but yea it's basically free money. Been tempted to use all my available credit desu.

>> No.54612672

>>54612651
>>54612663
The fact that this is legal and possible is undeniable proof that the world is a Ponzi scheme.

>> No.54612674
File: 548 KB, 790x2131, go back faggot.png [View same] [iqdb] [saucenao] [google]
54612674

>>54612651
Fuck off back to plebbit, catposting normalfaggot.

> My Dog killed an African Immigrant in our Garden!
https://files.catbox.moe/ynye5b.webm
> Cats, Parasites and Multiple Psychological Disorders: The Science
https://files.catbox.moe/pkiepa.webm

>> No.54612675

>>54612663
>>54612672

KEK, just fuck my credit card score up senpai I doing it then

>> No.54612682
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54612682

>>54612674
shalom

>> No.54612698
File: 227 KB, 790x1332, go back faggot.png [View same] [iqdb] [saucenao] [google]
54612698

>>54612682
You have to go back.

>> No.54612714
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54612714

>>54612698
ITT: bankerjew gets upset that I scammed his little plastic money card game

>> No.54612746
File: 105 KB, 1169x1436, go back faggot.jpg [View same] [iqdb] [saucenao] [google]
54612746

>>54612714
>the elon musk twatter redditcat
You have to go back.

>> No.54612748
File: 644 KB, 760x637, if_only_u_knew_kot.png [View same] [iqdb] [saucenao] [google]
54612748

>>54612746
keep bumping my thread bae, I have caturday pics for days

>> No.54612826

>>54612651
>treasury rates will stay the same indefinitely lol
You're too stupid to run a scam.

>> No.54612834

>>54612826
Nogger I make money even off the spread of today's rate (4.6%) vs the 3% one time fee.
Whatever 6 month rate can get is just gravy and is added to the 4.6% for extra profit.

>> No.54612864
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54612864

>>54612651
>catspammer
>>54612834
>"nogger"
Go back NIGGERFAGGOT and then kill yourself.

>> No.54612927

>>54612864
that wasn't very cash money of u to say my dude

>> No.54613043

>>54612651
Go back.