Balance Transfer Arbitrage

Have you thought about a balance transfer arbitrage play but don’t know what to do exactly and not willing to go blind on it the first time? It’s really simple and I’ll give you an idea of what you need to do by explaining my latest 0% balance transfer arbitrage play with the Citi Professional card. Why the Citi Professional card?

• Decently large starting credit limits.
• Citi has an easy balance transfer request process.
• $100 gift card after first purchase, a nice little bonus.

So, let’s walkthrough this one and the rest will be very similar.

1. First, apply for the Citi Professional card.
2. After the card arrives, make a purchase.
3. Wait until the next bill, pay it off in full. Request your gift card at your leisure, those points aren’t going anywhere.
4. Next, make a balance transfer request by following this walkthrough of the Citi balance transfer process.
5. When the check arrives, deposit it into your bank account. Now you can either use it to pay off another debt or use it to earn some money.
6. Transfer the funds into a high yield savings account such as ING Direct.
7. Remember to make those monthly payments either by making payments automatic or by just remaining diligent. Don’t forget!

That’s it, wasn’t that simple?