let's see...

[ajva]

I've paid off one of my credit cards with a chunk of cash (with a consolidation loan at much lower interest), but I accidentally overpaid because I checked the repayable balance before the final monthly payment filtered through to the account.

So I've donated $20 to Karyn, and I'm going to leave the other £20 or so in the account to see what happens when a credit card account is actually ... well ... *in credit*.

Wonder if they'll pay me interest? :o)


Surely it can't be that easy

Comments

[ajva.livejournal.com]

Ha ha. No, I actually meant, surely it can't be that easy to find a high-interest earning savings account as simply using your credit card in untraditional fashion. I like "Karyn"'s brass neck and I am generous, so what the hell.

[lutonianbill.livejournal.com]

There used to be some credit cards that paid interest on positive balances, but they never were high interest ones - it was the usual "we charge you a fortune if you owe us, but we'll pay a pittance if we owe you". Even from the Co-op bank.

The daftest one was the Assent card from Barclays that I had to re-jig their computer systems for: you paid them a fixed amount each month for no reason except that if you needed to borrow money off THEM you could borrow forty times that monthly amount at a not-quite-as-exorbitant- as-Barclaycard rate.

After discovering that people would make one huge monthly installment and then borrow money at rates lower than a Barclayloan, the card was quickly retired and all holders were moved over to the new Barclaycard Mastercard. Three months work down the drain for us, and a few heads rolling in the marketing department.