I was wondering if anyone had any experience with opening a CD and funding it with a credit card? North American Savings Bank accepts credit cards on line to fund a new CD. So I called the customer service to see if they process it as a purchase or a cash advance. The CSR said she thought it was processed as a purchase and suggested I call my card issuer. Then she said let me check. She came back and said it would be processed as a purchase. If this is correct one could use a cash back card and really get a big bump on the effective interest rate. However I am very skeptical that this is how they would process it. Wouldn't they be paying merchant fees to accept the card as a purchase? Any one with thoughts on this?