Ol School Skata
07-12-2005, 05:05 PM
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Citibank cash back a money earner
5 December 2005
Credit card customers can exploit “cash back” offers on some credit cards to make money from a bank. For example, Citibank’s Cash Back Visa cards offer users a rebate of up to four per cent, depending on the balance. By borrowing $5,000 from Citibank on this Visa card and then investing the $5,000 in a savings account with an interest rate of 4.9 per cent for a month and then paying it back into the Citibank account, the customer could make a profit of $142.
By The Australian
Citibank cash back a money earner
5 December 2005
Credit card customers can exploit “cash back” offers on some credit cards to make money from a bank. For example, Citibank’s Cash Back Visa cards offer users a rebate of up to four per cent, depending on the balance. By borrowing $5,000 from Citibank on this Visa card and then investing the $5,000 in a savings account with an interest rate of 4.9 per cent for a month and then paying it back into the Citibank account, the customer could make a profit of $142.
By The Australian