Buy low and sell high. This is the main principle of an App-o-Rama strategy. This game has reached widespread popularity in recent times. You simply apply for numerous credit card offers with a zero APR and invest this free money in a high yield savings account. At the end of the year you can earn hundreds or even thousands of dollars in interest! In addition, you can benefit from countless bonus offers, gift cards, sign up presents and other juice freebies. Get interested? Read the following points to make a successful deal.

1. Preparation

Start with some preparatory work. In order to fatten your savings, you need to improve your FICO score and make yourself as attractive as possible to potential lenders. That will help you qualify for a lot of credit cards with high spending limits.

There are several easy ways to boost your credit score. First of all, pay off any high debts. The credit-scoring formulas like to see a wide gap between your balances and your spending limits. So keep your utilization ratio less than 30%.

Try to avoid applying for new plastics for 6-12 months before starting your App-o-Rama. Recent inquires can make your FICO score lower. Moreover, it will decrease the average age of your credit accounts.

2. Research

The next step is to map credit card offers you will apply for - 10-15 plastics. Choose credit cards with the longest 0% interest rates on balance transfers. Also pay attention to good signup bonuses and other promotional rewards.

Don't forget to read the fine print both before submitting your applications. You need to know all potential fees that your new plastics may charge. Be aware of the balance transfer fee associated with introductory rates. It can be a flat rate or a percentage of the amount you are going to transfer. You can increase your profit by applying for credit cards with a low or no balance transfer fee.

3. Application Process

The main rule is to apply for numerous credit card offers as quickly as possible. Nothing and nobody should disturb you. The speed is critical: if lenders see that you have already got ten credit cards very recently, they are not likely to approve you for the eleventh plastic. So turn off your phones, send the kids out to play and lock yourself away with a computer. It also makes sense to apply for your most desired plastics first.

4. Profit

Open a savings account a few days beforehand so that you can take advantage of every single day of your free funds. Look for a high yield savings account where you can earn 5% or more per year. Online banks are a good choice - they typically offer more profitable terms and conditions than your local branches. Moreover, you can easily open and access your account.

Make sure that your savings will be FDIC insured, which will make them essentially risk free.

5. Afterword

Obtaining multiple credit cards means that you are taking a lot of new debt, even with the lowest rates. So don't forget to mark down when to pay them, how much to pay, and when the introductory periods end. You can set up automatic payments, make a table in Excel or use online reminders. If you are not meticulous with recordkeeping, your profits will turn into a significant loss!