Credit cards are great. everybody has one and you can use them to spend other people's money. The disadvantage is that the money must be repaid and it can be very expensive at anything up 20% per year. However, if you are clever you can borrow money on a credit card for practically nothing and get immediate access. It is instantly available money.
The competition for credit card business is immense. There are many many of credit cards available, all attempting to attract customers with different offers e.g. no annual fee, air miles etc. We are only concerned with the Introductory Balance Transfer Rate being offered. You can then use a simple system to borrow money and pay very little for it.
Apply for a credit card that issues credit card cheques. An example of an issuer is Virgin Money but there are others. Not every credit card issues them. Credit card cheques are simply cheques that you write in the same way you would write a personal cheque but they debit your credit card account rather than your bank account. You can then write a cheque to pay for anything you want. You can even buy property.
For any money you borrow using this system you will be charged about 2% of the sum borrowed for the one month you need it. However, you will not have to pay this yourself because you can transfer the whole balance (including the charge) to another card.
Apply for another credit card that offers a low introductory balance transfer rate and there are many available. Choose the lowest transfer rate possible but it is often possible to find one with an Introductory Balance Transfer Rate of 0%. You can now transfer your original balance from the first card to the new one. Do this before the second month of the loan begins to avoid another month's charges on the first card. You now have no balance on your first credit card and a balance on your second card that's attracting an interest rate of 0%.
Apply for another credit card with a low introductory balance transfer rate before the second card's introductory term ends. These Introductory Rates can last anything between five months and nine months or possibly more.
Don't apply for this second card straight away because your application might be rejected. You cannot apply for lots of credit cards at the same time because your application is registered on a central database and all credit card companies have access. Some firms might reject your application if the database shows that you have received another credit card from another company recently. For this reason it is best to stagger your applications over a period of time.
When you have received your third credit card before the Introductory Rate on your second card ends, transfer the balance again. This can be repeated over and over again. You never have to pay more for credit than the rate being offered as Introductory Rates and this will probably be 0%. You just transfer the balance to a new card every six months or so and initially you will pay 0% interest.
When you have exhausted cards that offer 0% you can switch to 1%, 2% or 3% rates. It is still very cheap money.
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