As we all know, interest rates are at all-time historic lows, and therefore so are the interest rates paid on many savings accounts out there. I remember the days before the financial crisis when you could open an online only savings account through HSBC and collect a 5% interest rate. At the time I was still in college, but I still took advantage of this opportunity. For at least a year I found an arbitrage opportunity in the market where I could pay all my tuition and school expenses on my credit card and transfer the balance to a new card at a 0% interest rate for 12 months and then leave the cash I had in my online HSBC …
