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Old 06-13-2007, 09:59 PM
bad beetz bad beetz is offline
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Join Date: Sep 2002
Location: Yo Mama\'s House
Posts: 1,665
Default Re: Taking out a prosper loan to buy stocks

Oh yah.... actually. If your credit is super solid then you may have a 20K backed card, which almost always will offer you "convenience checks" for no interest for one year (note that the interest still accrue and if you don't pay it off in a year you're toast, but as long as you come in under 365 days you're looking at 0 interest!)

So if you have a short term play this would be a much much much much better place to get the money, just make sure you can cover.

If they don't send them regularly to you in the mail just call the number on the back of the card and ask if their available. Fill one out for the whole credit limit and deposit in your brokerage. blam, money. Just make sure you read ALL the fine print.

If you don't have a huge limit on any of your cards just take your biggest one can call the number on the back of the card and see if you can get an increase.

I just edited this cause I wanted to note that I'm still against you playing the market in any fashion as I think you've demonstrated that you don't have enough background to beat the market repeatedly... I feel like I know more than you but yet for [censored] sure I cannot beat the market. That's why I just take my money and buy 1/2 of whatever haakee buys. :-)
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