Susan C
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sounds foolish to me...unless you have a 0% interest credit card...
If you can "invest" your own money in the stock market..OK... |
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IncomeInvestor
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Hi, September,
Borrowing money to invest with is always a bad idea. Don't don't don't go there.
You can now find good stocks that pay dividends and buy them for bargain prices, and the dividends will go up so that you're getting a really high yield on your original investment.
But that's in the future. Paying interest on your credit card debt will wipe out this advantage in the short term.
And if you're counting on growth in stock price to pay off your credit card bill in the mid-term future . . . you're not paying attention to how bad the markets are right now. "Growth" stocks may not grow for a decade or more.
best, Rick Stooker |
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lonely teenage bronkin' buck
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it is a god time to invest 9cause stocks are cheap) but i wouldn't reccomend taking money of your card though... too risky
Extra cash? yes. invest |
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Darrick
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Depends what stocks you invest in.
DO NOT MAKE AN UNINFORMED DECISION!!!
By the way, our stock market is in the shitter right now. |
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redd headd
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You do know that is a dumb idea, basically borrowing money to invest, you don't know now that this drop in stocks world wide is going to turn around anytime soon. if you had extra money fine but not money you have to pay for . The last time we had anything like this was 1974, inflation ,loss of jobs and i took 7 years to make your money back. |
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Cesar F
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Yes it is a good time to invest, the problem is if you don't know how to invest be very careful, and if you think you are not big with money then be very careful to, investing is not easy, people think that just because the market is having it rough, they can go ahead and invest on anything and if the market comes up, they are gonna have a lot of money well think again and think very well on what your planning to take share of do your research before you go out and lose money |
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C
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No but if you have cash id invest i just did. no matter if the market goes down more it is well below where it should be now and will go back up leaving you with earned money fo sho |
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J.D. c
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this is true but the problem you will have is keeping it open because of the new bill that was passed |
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hoser
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That's what got us into this mess in the first place. It's a good time to invest if you have cash to do so. Using credit will be disasterous if the market continues to dive or takes a long time to recover (which it probably will). |
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brunie200764
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Wow please don't. Honestly I will give you my honest opinion I work at a bank and work with financial consultants. That is not the way to go. SAVE your money or don't use the credit card at all. This is part of the problem not the solution. People are using credit cards and the credit companies are becoming low on the funds. Going in debt right now is not the answer it is better to try to save as much as possible and try by just getting. But if i were you I would definately speak to a bank financial consultant bc they won't "bs" you and will give you the real low down. Hope i help. |
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haha
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Nope |
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Asker o'Questions
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No. Taking money out off your CC is always a bad idea unless it is a dire emergency.
It is a good time to invest though, because the stock prices are incredibly low. |
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myesparta
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It's never a good idea to use your credit card to get cash. That having been said, the best investments these days are in high yield savings accounts and CD's. If you invest in the stock market today, you may see a continued loss in value, before the big uptick everyone is eventually expecting. So say you lose 25% in the next 2 years and then an upturn of 20% in the third year. You've not even broken even in three years, which is entirely plausible, when you could have purchased a 3-yr CD with a guaranteed return rate of about 4.55%. Save save save! |
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Dr. King
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Yes its a fine idea. |
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