Income from Credit Cards

Throughout 2004 some people earned $100-$200 per month simply by
transferring money from some of their credit card accounts offering 0%
interest for 6months to 1 year or more to a savings accounts (like
IngDirect bank) where it earned interest at around 2% or to some CD
account.

Many others availed this opportunity of having huge interest-free cash in
their hand but alas they just spent it! These are the customers which were
targetted by credit cards. These are the customers they love to have -
These customers will now pay interest on their piled up credit months after
months and the interest rate will go on increasing as Fed hikes the short
term rate more in coming months.

0% interest seems to be fading away as a story of the past. Some Credit
cards are now offering 1.9% APR for life to their customers - which are
very good deals especially if you have car loans etc at higher interest
and you can pay those off. For some other smart fellows even 1.9% for
1 year offers some opportunity of more income - by keeping the money in
savings account of say Emigrant Direct which offers whopping 3% APR.
Of course, they need to deduct tax from this extra income of course. Also,
beware that their credit score suffers due to these high balances. So,
avoid this practice if you are applying for a job or relocating or buying a
home or doing anything that needs your credit check.

However, looking from above, it seems you can be called smart if you
have hard cash in hand but you control your temptation of spending it off!