I got $90K from credit cards, where would you invest?

Discussion in 'Professional Trading' started by misterno, Feb 22, 2009.

  1. I did several Balance Trasfers and received $90K cash and deposited them to savings account in Dollardirect savings bank. I am receiving 3.2% and my cost is almost 0%.

    If it was you, where would you invest only for 1 year and only on FDIC protected? I checked all over internet but was not able to find better yielding banks. I am not into risky instruments or stocks only safe bets.

    By the way if I want, I can get more, probably make the total balance to $130-$140K but that needs a little extra work.
  2. Invest everything into Citibank, Bank of America, Fannie and Freddie.
  3. I said no stocks

  4. write me a check, i'll give u 4%
  5. Bob111


    kinda late and too risky..done this on bigger scale long time ago,when CD's and treasuries pay about 5-5.5%

  6. Put the money back in as quickly as possible and stop trying to be clever. You will wind up losing a lot of money and then being in serious debt.
  7. tango29


    Wasn't there a transaction fee to get that money? I'm looking at a couple of offers I got Friday and they all have a 3% fee with no maximum, so that would be $2700 to cover from the start.
  8. wickcity


    In your credit card company.
  9. lrm21


    Who cares, unsecured debt.

    I say put 80% in high yield accounts for 1 year and take the free interest.

    20% put into physical gold, perth mints.

    There are 3 scenarios

    1) Everything works out Obama is a miracle worker and we are in full gear in 12 months. In which case there will be inflation. gold will be up

    2) This malaise continues, we plug along but things don't get worse. In which case there is mild inflation, gold will be up.

    3) SHTF and you 20% gamble makes you an overlord of small southern town.
  10. A year from now there will be such massive credit card defaults that your CC company will not even notice if you don't pay the money back.
    #10     Feb 22, 2009