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Make Money With Capital One Purchase Checks

by andy h on February 14, 2007 · 2 comments

Some Capital One purchase checks arrived in the mail last week. I remembered reading a Fatwallet thread telling how to make money using the purchase checks. Since I’m always looking to make more money I decided to give it a try.

Here is how it works. The purchase checks have no fee and are treated the same as regular purchases. This means if you cash them at the right time in your billing cycle you can get almost 60 days free float. By taking the checks and depositing them in a high-yield savings account you can make money. I expect to make about $25 doing this. Possibly more if I can do this twice before the checks expire. I’ll be giving up some interest because I’m going to pay off the card a few days early just to be safe. This might not be worth the effort for some people but it will take just a few minutes to do. Making $25 for 10 minutes effort is a pretty good return to me.

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