I’m paying for an underground pool with 0% interest thanks to my credit card ‘shift’ hack – all you have to do is ask

A CREDIT card expert has revealed how he is paying for a new swimming pool in his backyard with a 0% interest credit card.

These types of credit cards typically have low credit limits, but the savvy consumer guru has found a way to increase that limit significantly.

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Steve Noviello is the FOX6 consumer reporter who recently uncovered a clever credit card hack.

As he revealed in a recent piece for the broadcasterHe discovered a way to get a significantly higher credit limit on his new 0% APR credit card, which he used to pay for a new internal pool.

Before signing up, Steve already had a line of credit with the bank for two existing credit cards.

However, these credit cards had the typical APR rate of around 30%.

He called the bank and asked them to increase the limit on his new 0% card.

The bank was able to offer a very sweet deal.

“’We’re going to take all of your available credit on both cards and transfer them to consolidate them on the card that has the best offer,’” the bank told Steve.

“‘Now you have more than enough money available on this card at 0% to do exactly what you need.'”

Steve said the bank would be happy for him to use his line of credit with any card he wanted, as long as he used it responsibly.

“I had this idea I could do this!” he said.

Thanks to his new credit limit, Steve put the money he would use to pay off the pool into a savings account earning 5%.

“The rates are so good that I want to hold off as long as I can, charging the purchase at 0% and eventually paying it all off at once before interest accrues.”

This way, he was literally making money using the card

But the advantages didn’t stop there.

Steve would also receive 1% cash back on all purchases with the card, plus a $200 bonus.

“At this point, I think I owe the folks at Bank of America an invite to this pool when it’s finally completed,” he joked.

0% CARDS

Most major banks offer some type of 0% APR credit card.

Typically, zero interest is only offered for a limited period, such as 18 months.

Once this period ends, typical interest rates come into effect and the debt can increase quickly if the balance is not paid off.

Always read the terms and conditions carefully before applying for a new credit card.

Find out how one woman paid off $234,000 in debt in 31 months.

Or here’s what to do if you’re drowning in debt and don’t have a pension.