Ok perhaps the employment of friends is a little beyond what you want to do.  Well here is a very simple FDIC insured way to earn Incredible Interest Rate on Savings.



Cash Is King



With good credit I have discovered that I often receive offers to borrow against my credit cards for periods of up to one year at 0% interest!  I have currently taken out over $50,000 from a number of credit cards.  You must keep track of your expenses or this will not work.  I track everything on an Excel spreadsheet that I designed.  I know what card has what available balance and more importantly I know when the 0% rate expires on that card.  I like to establish automatic deductions from my VirtualBank account to my bank account and then pay the monthly minimum.  The minimum amount owed on most credit cards is 2%.  Therefore the amount owed monthly on $50,000 is only $1,000!


Some cards will allow you to make a transfer directly to your bank checking account.  Other cards require you to request convenience checks.  If you need to request the checks just write one out to yourself and deposit in your bank account.  To prevent your credit score from being negatively impacted you should not borrow more than 80% of your available credit line.  Ok, now for the fun part: Taking that $50,000 and placing it in the FDIC insured VirtualBank account that was mentioned earlier in this letter will return a current percentage of 5.13%   (As Of 10/05/2006) In 12 months you will have earned $2,565!  Not bad for just borrowing the credit card companies money.  Before the rate expires, return the principle and no charges are accrued against you!


Here is the Link to this incredible website!




                       VirtualBank Gain Savings