Credit Card Access Checks +EV?

[LondonBroil]

I get them all the time. Those stupid access checks from Mastercard. I haven't used this card in over 2 years and every month they tell me they've raised my credit limit because of my excellent credit history (even though I bought 1 thing on it and never used it again).

"Write out a check and deposit it into your checking account to jumpstart your holiday shopping". They give me 0% APR good through my June 2005 statement. (Transaction fee of 3%, min $10, max $75)

So anyway, my credit limit is $21,600 (I don't know why they trust my with so much since I'm only 26). If I write one of the access checks to myself for $20,000 and stick it in my ING account at 2.2%, I could make $220 in 6 months, take it out, then pay off the credit card.

Am I missing something?

[viennagreen]

yeah--- you'd make $220 in interest minus $75 in transaction fees, according to how you've phrased the problem.

so, only $145.

plus, you should make sure you have all your financial records in order---- $20K deposits and withdrawals raise some eyebrows.

playing poker sounds much less complicated though.