0 interest for 18 months

[whyzze]

So I want a new TV. If I get their credit card and put the purchase on it I get 18 months of 0% financing.

So I have a few questions. I did some math and came up with these figures if I invest the present value in fixed income. the total cost of the TV after tax and warranty will be ~2044. I did my figures based on 17 months with this corporate bond

- Corp AK STL CORP 102.12 7.875 15-Feb-2009 YTM =6.471 Current Yield =7.711 fitch = B Callable = Yes

It is B rated and callable...but I figured the period isn't very long and the duration is a pretty good match. (if I am actually going to do this i will do a real bond analysis)

here are my numbers...I know this is a coupon bond so I could be way off in my calculations unless I can invest my coupon payments at the same rate right?

How close is this to correct...I put in 17 periods.

PV =$1,549.10 YTM =0.06471 Payment = 10(minimum CC payment) Periods = 17 Lump payment after 18 months = 1874.94 Total cost = 2044.94

So by my math, if I do it this way i will save ~$500. How much will the transaction costs of my investing affect my value? Is my math close? Did I miss anything major?

More importantly - I have basically no credit...I am 22 and just finished school. I wont have a problem getting approved for the card. I am just wondering if carrying this balance on my CC for 18 months will do more than $500 worth of damage to my credit score for say when I am ready to buy a house or need a business loan.

Thanks for any input.