Hey guys?
Was just thinking about opening a credit card to investing in GLBSE. With an 14% annual rate, (some cards even offering 0% interest for a year), would it atleast an 'ok' idea if you're responsible?
What are you guys thoughts about using a credit card to invest like 1-2k into GLBSE and make monthly payments off the dividends?
Back when savings accounts were giving 7% interest a year, I would take out credit card balance transfers and put them in the bank, then pay the minimum interest each month. With that I had automatic payments set up and insured by FDIC.
If you look around you can get 0% balance transfers still. Most though will charge a 3% fee.
I still would not do it by putting money into GLBSE. First there is the bitcoin exchange rate risk and then there is the risk of losing your money to a scam. Think about it, if you could borrow $50,000 and put in into GLBSE, why doesn't the asset creator just borrow the same way as you?