From: "John A. Weeks III" 
Newsgroups: misc.invest.financial-plan
Subject: Re: What would you do in this case...
Date: Wed, 17 Jan 2007 19:00:30 -0600
	iQBVAwUARa7Grvl/I4+O31e5AQFGggH/QbZSA1VvqbadkNiBYADaPw0fCHVioNn+
	GQSzknw8d4VCKqsVTfSvkJzhurPVo7JfBnRSdxopqkD3NImanFVQfw==
	=hYAI

In article <2Ixrh.78115$%I5.10850@fe10.news.easynews.com>,
 "The Henchman"  wrote:

> If I take another $5000 cash advance from the credit card company at their 
> 2.9% rate and put it into my RRSP and go for a tax refund in April and pay 
> the card back within 6 to 9 weeks is this smart or is this just gambling?

Go for it.  Consider the worst case.  If you cannot pay it back in
6 to 9 weeks, you probably have the teaser rate for at least 6 to 9
months, so you still have a lot of time to raise $5K.  The other worst
case is if a payment is missed, or the credit card company loses or
sits on a payment, and you go up to the max rate of 32% or so.  That
would be like $130 a month in interest.  That would be bad.  Do you
have any other teaser rates or home equity checks, or an emergency
fund to cover this in case of this happening?  This is a good reason
not to do it.  But if you have some time period that expires, the
credit card checks are one way to buy some time.

-john-

-- 
======================================================================
John A. Weeks III           952-432-2708            john@johnweeks.com
Newave Communications                         http://www.johnweeks.com
======================================================================