delta
First Time Poster
Cash: $ 0.25
Posts: 1
Joined: 14 Oct 2005
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| Should I invest? |
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Here's a question for ya'.
I have excellent credit (Fico 780-800 depending on how the wind blows), no credit card debt whatsoever. I have two mortgages on two homes with two LOC's that have zero balances.
Over the years - I am 56 - I have amassed quite a bit of credit card "credit" with limits over $50K each. ( I have over $200K in credit card limit which is probably why my wife's FICO who is a housewife is 825!!!
I get these offers for 0% interest for 5-6 billing periods and wonder if I should take the money, for which I pay between $35-50, and put it in my tax exempt money market fund. I should mention I am in the top tax bracket. Is it worth it? I think it may be more of a pain than it's worth.
I don't want to access either of my two LOC's which are prime -.25 at these rates today but wonder if I can make some $$ in the tax ex MM using the 0% interest credit cards.
What do you guys and gals think?
thanks,
Delta 
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Fri Oct 14, 2005 4:41 pm |
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sayyes
Preferred Member
Cash: $ 11.60
Posts: 143
Joined: 02 Jul 2005
Location: Newport, RI
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I think it sounds like a good idea. If you can get $50K at 0% interest for a few months you'll be making a nice amount of interest.
I would make sure that you can get the $50K, however. Many times your cash withdrawal limit is less than your credit limit.
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Fri Oct 14, 2005 6:45 pm |
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Rolo
Yo' Daddy
Cash: $ 309.70
Posts: 1551
Joined: 13 Mar 2005
Location: Colorado/Florida
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Sounds like a good idea to me....as long as your inflow % is greater than your outflow %.
"Expect me when you see me."
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Sat Oct 15, 2005 5:48 pm |
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