Photo by Get £500 in ‘Free Money’ with This Credit Card Hack
As a savvy saver, I’m always on the lookout for ways to maximize my earnings. Recently, I stumbled upon a clever trick that can earn you hundreds of pounds in “free money” - but it’s not for the faint of heart.
The Art of Stoozing
Martin Lewis, the renowned Money Saving Expert, shared a unique credit card hack that can see savers earning hundreds in “free money.” But he warned that this trick is only for the highly financially savvy and disciplined.
How It Works
The concept is simple: deliberately create zero percent debt and build your money up in savings. Here’s how it works:
- Put your income into savings and live off a credit card.
- Pay off the interest on the credit card so it doesn’t pile up over time.
- Take the money that builds up in your bank account and save it in a high-interest savings account or cash ISA.
The Benefits
With this trick, you can earn significant amounts of “free money.” For example, if you put £1,000 in a savings account with a 5% interest rate, you’ll earn £50 in “free money.” Put in £10,000, and you’ll earn £500.
The Catch
There’s a catch, of course. This trick will decrease your credit score somewhat, so it’s essential to be cautious and only attempt it if you’re financially savvy and disciplined.
A Word of Caution
Before attempting this trick, make sure you understand the risks and rewards. It’s crucial to be aware of the potential impact on your credit score and to only use this method if you’re confident in your financial abilities.
Credit card hack
Conclusion
While this trick may not be for everyone, it’s an excellent way for savvy savers to earn some extra cash. Just remember to be cautious and only attempt it if you’re confident in your financial abilities.
Earning “free money” has never been easier
