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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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