Step 2: Getting a Truly Interest-Free Loan
A savvy and disciplined consumer can use the credit card companies’ greedy “lure” to their own advantage. The key is to be disciplined and already have the money to pay back the loan before you even apply for the card. In other words, we only recommend using interest free credit cards if you already have money saved to pay off the balance before you borrow the money.
For example, let’s suppose you have $4,000 saved to take a special family trip to Europe to visit relatives. Instead of paying with cash suppose you open up a Master Card with a 12-month promotional interest-free term. Then, you use that card to pay for your vacation including air fare, hotels and meals. Assume that your total balance on the card is approximately $4,000 when you return from your trip two weeks later.
For more info on how to make free money online, check out the navigation menu above.
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