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Old 09-28-2007, 03:32 PM
pifhluk pifhluk is offline
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Join Date: Sep 2006
Location: Milwaukee
Posts: 532
Default Gold and Credit Cards (noob question)

Preface: I have no idea what I am doing in regards to this and am a complete noob but I had an idea and was looking for some advice.

So if I can borrow 15K+ on credit cards and continually move this money around so that it maintains 0% interest by using balance transfers etc. what should I buy with this money?

The first thought that came to mind was to just by gold coins on my credit cards, golds value goes up, keep my interest at 0% get a couple hundred dollars worth of gift cards and make some money.

I understand about credit ratings and that if I have my credit cards racked up then I will not be able to easily loan money and my rating will drop. Currently my credit score is 770+ across all 3 agencies and I have somewhere around ~30k of available credit and not even 1k of it used.

Does this sound like a good idea?
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