- Green Member
- Posts: 4
- Joined: Sun Jul 17, 2011 9:53 pm
- Location: Texas
I'm a long time rewards card/APR chaser, but just found this site today. So, I've been at it on my own for a while, but now that I've found a place to ask, I want to ask a question or two. If I needed to post somewhere else, please just let me know.
I have around 5-6 cards and pay them all off monthly.
1 big purchase card,
1 old card that I use once in a blue moon but have had for what seems like almost 20 years 1 emergency only card
And a Lowe's card I got years ago to take advantage of some kinda 0% deal
I've had all cards 5yrs or more. All (except maybe the Lowes, no idea about it) have what I think are decently high limits . Credit is excellent. So here are my questions:
1.) I am thinking about taking a low purchase APR card, using it as much as possible, taking what I put on it every month and putting it into a fairly secure short term bond fund (currently 3% yield and averaging 4.5%-6% return over the past decade with no major dips or jumps). Paying a little more than the min every month and and then pay the card off in 12-18 months and have the return and rewards for spending cash. How bad of an idea is that? Shouldn't really need to pull credit for anything (car/home loan) during that time either.
2.) Should I keep that Lowe's card I've had for 10 years. Never use it. Never even think of it. I know it's active because I just a got new card.