with 8% APR. I wonder if you can prepay, then BT (effectively no interest because your balance was never greater than $0), rinse repeat
posted: Jul. 16, 2013 @ 3:06p
Apply interest to average daily balances of all kinds. Balance transfers may take up to 4 weeks to show. Thus could be first month balance transfer as +.01-(.08/12)= .0033 which is 33.33 dollars per 10 thousand, and also plan to deduct the extra time in bank assembling invoice for statement, mailing, snail-mail transit, receiving,opening, paying in full for reverse processes times the interest for minus a few Bernankes. But good to postpone the inevitable if one carries card balances forward while awaiting lottery jackpots.
Senior Member - 1K
posted: Jul. 16, 2013 @ 3:57p
imbatman, good idea... Want to try and report back to us?
posted: Jul. 16, 2013 @ 4:51p
Saw this. Seems impossible to profit from, but it's interesting to see CC companies trying to come up with new offers. Have to wait and see where it leads.
posted: Jul. 16, 2013 @ 7:22p
It also has a remarkably opaque Cash Back program. From the T&Cs:
"For purposes of the Giveback™ program of your Barclaycard Ring MasterCard®, there is a profit sharing feature. This profit sharing feature is not based on the actual profits of the program. Instead, the Giveback™ program contains a transparent calculation that is used to determine what will be shared with the community members and which may or may not approximate actual profits. The Giveback™ program and the profit sharing features are offered at our sole discretion. We may discontinue the program at anytime. You have no property or other legal right in any aspect of the Giveback™ program, including profit sharing amounts that have yet to be distributed and amounts forfeited as a result of account or Program closure. In addition, your account must be in good standing at the time the Giveback™ is distributed to receive the Reward. The transparent calculations for the Giveback™ program are provided online. To be eligible for Giveback™ you do not need to register online or visit the website. The Giveback™ amount will be presented only online; however, you are not required to log in to receive the reward."
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