WSJ columnist Jane J. Kim reviewed the trick of profiting from introductory credit card offers and declared that there are still enough opportunities for those we are willing to take a temporary hit on credit score for a couple of extra grands a year:

"The increasingly popular strategy involves applying for a slew of credit cards that charge 0% interest on balance transfers, then parking those borrowed funds in high-yield online savings accounts, which often pay 5% or more.

Then, just before the cards introductory period expires, typically in 12 months, you pay off the loans and pocket the interest earned.

...

Competition among card issuers for new customers is so intense that companies cant afford to do away with the generous offers altogether. American Express Co., Citibank, J.P. Morgan Chase & Co. and Bank of America, for example, say they still offer no-fee, 0% balance transfers to selected customers."

I myself am a loyal practioner of the practice, and in the past 12 months alone, I maintained an average credit card balance of over $40,000 in 0% APR or low-APR balance transfer offers. Thats probably the easiest $2,000 I pocketed last year.

In case you dont know where to find these offers, below are some cards you can look at. They all include introductory 0% APR balance transfer offers for 12 months or longer with credit card annual fee. I included those with capped balance transfer transaction fees since with a larger balance transfer, arbitrage profit can still be obtained under capped fee arrangements.

Hot Deal: 5% cashback on everything from Citi CashReturns Mastercard

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