Hot to Get Your Credit Cards to Pay You

Did you know that you can take advantage from the introductory credit-card offers? The method is very simple, yet very effective. All you have to do is apply for several credit cards that offer 0% interest charge on balance transfers, and then deposit the loans in high-yield savings accounts. The best thing is that those types of accounts usually offer up to 5% interest, which really means that you will gain serious profits. The key is to pay off the loans just before the credit card’s promo period expires (usually in one year), and then cash the gained interest from the high yield account.

This is a strategy called App-O-Rama by the personal finance websites and it has become very popular the last years. Many people are already enjoying the profits made with App-O-Rama. How much have they made? A lot, if you consider that one App-O-Rama can get you up to $300k in new credit lines. A well thought strategy that focuses on relocating the existing credit lines and deposit them into high interest deposits accounts can bring you even $15,000 per year.

Of course, the profits are directly related to the credit history and the amount of your credit lines, but also the strategies used for obtaining the maximum profits from your App-O-Rama. Here are some of the proven strategies that can get you more money from the App-O-Rama strategy:

• A great strategy to improve the results of your App-O-Rama is to use the balance transfer money in order to pay down other credit card debts or investments. You have to use the balance transfer money and deposit them into a FDIC insured interest paying account. When the balance transfer is over return the amount and you will end up with the difference between the balance transfer rate and the FDIC account (you will have to pay the taxes of course). Just make sure you don’t miss any payments; the interest is very high.
• The investors with an extended credit history and high credit lines are more prone to huge profits.
• Try to increase the credit lines. You will have more funds to invest in the high yield accounts and the profits will be significant.
• Get as many credit cards as you can, especially if they offer you bonuses or reward programs. This might actually mean money in your pocket in various benefits (free airline tickets, free vacations, and free gas tickets).
• Starting an App-O-Rama procedure doesn’t mean that you can only use new credit cards. You can obtain 0% offers on existing accounts as well.
• At the end of the procedure, you don’t have to take the money out when the promo expires, just pay it back on time;

Even if the credit card companies are becoming more and more aware of the phenomenon, they are sure that only a limited number of card holders are practicing App-O-Rama. Nevertheless, taking measures about the App-O-Rama practices is usually overlooked as the increased competition between the credit card companies is more important. Therefore, many of the credit card companies still offer 0% interest on balance transfer rates, as they don’t actually afford to loose any customers. These are great news for anyone trying to start their own App-O-Rama, especially with the development of new and efficient strategies to optimize the process.