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Yeah I kinda realised that. I guess what I could do is go around family and friends and pay for their bills/purchases/whatever on my card and take their cash instead. Then do a full balance transfer. Even with this method getting to $15K would more trouble/effort than it may be worth :):).

I've just checked with my bank (CBA) and the break cost are about $500 or so. I've had the loan for well over a year but they said if it's payed off before 2 years these fees are payable. I was sure it was only if payed off within 1 year:confused::confused:... will need to check contract...

I don't have a problem with my borrowing capacity. I can borrow more than what I need to atm. I just thought I can use this to either eliminate paying anymore interest on the car loan (even though its deductable) or LMI and end up saving some money. Just some lateral thinking and exploring...

I don't really need to do this but I just thought, like Nathan said, if I can use the strategy to make/save many then I should.

Nate, Jas thanks for the other angles. I've crunched the number further and will definately utilize this method in one way or another. I will at least use it to elimate a car loan - I have $6k remaining on a car loan of which I am paying a minimum of $887 p/month. Using one of those...

Thanks for the info guys. I have also read that you can sign up for one of these cards and then draw out cash straight away (only once) from it but rather than being treated as a cash advance they will treat it as a balance transfer. So thereby bypassing the whole balance transfer process and...

Hi All, First let me say I only use my credit card to buy online and automatically pay bills and I have never paid interest on a card ever. I always pay off a bill or purchase within days of making it and only use the card for convienience. I've seen the following method mentioned on here...