No. of Recommendations: 0
I'm the type who will gladly jump through annoying hoops to save a couple bucks (mail-in rebates, etc)...It's just my nature.

A few days ago I thought of an idea that could make me some money in stocks, involving borrowing money from my credit card and investing it.

Essentially I have a high credit limit and can borrow a fairly large amount at a very low interest rate, invest it for 9 months, and then pay back the principal, keeping the interest for myself.

This may sound risky to those reading this and I'll acknowledge that those thoughts are going through my head however, for now I'm really concerned with the following: During the period between now and next September, I will be making small payments on my credit card, but leaving a large amount unpaid. Will this adversely affect my credit history a year or two in the future - having had several thousands of dollars of debt for 9 straight months?

Can anyone point me to a resource that can confirm this?

Thanks!
-GP
Print the post  

Announcements

UGC Disclosure Notice Regarding Credit Card Posts
Community board discussions about credit cards are not provided or commissioned by banks who may have advertising relationships with The Motley Fool. Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser. It is not the bank advertiser's responsibility to ensure all posts and/or questions are answered.
TMF Credit Center
The Motley Fool Credit Center arms you with real tools and simple messages, that will help you in every credit situation.
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Community Home
Speak Your Mind, Start Your Blog, Rate Your Stocks

Community Team Fools - who are those TMF's?
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.
Advertisement