Is kiting viable with any credit card?
I mean is there any credit card with interest/charges low enough to allow such a thing?
I have an ICICI Credit Card.
For cash withdrawals, the interest in calculated from the day of withdrawal.
Also, interest will be levied on all cash advances from the date of the transaction until the date of payment.
Most of ICICI's cards have high transactions fee for cash advances.
Cash advance – transaction fee
On all Cards - 2.50% on advanced amount, subject to a minimum of Rs. 300 except for the following cards:
On Easy Deposit Card – Nil for cash withdrawals at ICICI Bank ATMs
On Cash Card - Rs. 151 per transaction
On EMI Card - 2.99% on advanced amount, subject to a minimum of Rs. 299
The Easy Deposit Card is best suited for "Credit card kiting" as it has no cash advance transaction fee.
However it is a secured card and is given against a fixed deposit earning 8%-9% and so it doesn't make sense "kiting" with such a card.