Thursday, May 17, 2007

Interest rate arbitrage

My credit card company was begging me to take $19,000 at 0% interest for 8 months, so I obliged and put it in an HSBC online savings account that yields 5.o5%. That's $80 a month, and nearly risk free. If you do this, make sure to make the minimum credit card payment every month, otherwise they'll jack up the rates on you, and make sure the initial fee is reasonable. And I wouldn't advise investing this money in the stock market. ;-)

2 comments:

pi said...

...awkward...

api said...

looks like its $71 a month, now...