Fund your new bank account with a credit card

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Fund your new bank account with a credit card

Have you ever open a bank account and they let you fund it with a credit card? Yes, some do and count the funding as a purchase. Lets see…if you fund your new account $1000 with a 1.5% cash back, that would be a free $15 in cash back money. Not only that, you are getting an interest free loan for a short time with no fees! Here’s a list of banks that allow you to fund with a credit card:

WaMu: $100 max with Visa or Mastercard
Citi: As high as your credit card limit will let you, Visa or Mastercard.
Bank of America: I’ve personally funded my account with $500 using a CC.
LaSalled Bank: $1000 limit
Wells Fargo: $500 limit

Let me know if you find another bank.

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This entry was written by Hustler and posted on May 23, 2007 at 12:26 am and filed under Bank Info. Bookmark the permalink. Follow any comments here with the RSS feed for this post. Post a comment(Latest is displayed first) or leave a trackback: Trackback URL.

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2 Comments so far (Add 1 more)

I tried doing this with my BoA account. I tried funding the account by making it a $2500 CC purchase, but they only charged my credit card $25.

1. bemo on May 24th, 2007 at 4:46 pm
Be very careful about doing this. Several websites have reported that the funding of the citibank account is listed as a credit card purchase initially, but is later changed to a cash advance and fees are incurred. As with anything like this, YMMV.

2. Hagen on May 23rd, 2007 at 11:22 am