Re: Taking out a prosper loan to buy stocks
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Isn't the 0% only on purchases? Are you talking about getting 0% cash advances? I'm not sure those exist, and even if they did, there are transaction fees of like 5% or so right off the bat.
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0% is on balance transfers, but they usually give you convenience checks that you can either write out to yourself or to another credit card that you overpay and that credit card sends you a refund check for your overpayment.
Most cards have a 3% balance transfer fee. Some cap the fee at $50-$75. However, there are several that do not have a balance transfer fee at all. I applied for 3 cards with no balance transfer fee last night. Still waiting to see what type of credit limit I get.
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