[MAHB]

Does the credit lending industry (Citi, Chase, BofA etc) have a black list for individuals who invest using credit cards? Here's my scenario

I have reasonably good credit. As such, I receive no less than 20 promotions a month offering 0% interest for a year on purchases and balance transfers. Periodically, the lending institutions waive balance transferfees but NOT cash advance fees so it's hard to get your hands on cold hard liquid cash.

I recently signed up for XYZ credit account which WAIVED CASH ADVANCE TRANSACTION FEEs so I had them cash advance me the entire $$$ credit limit into my checking account.

The goal is to invest this money into a liquid 5% YIELD money market with $0 borrowing cost (assuming I stay on top of it). Because waiving cash advance fees is so uncommon, I plan to pay off my XYZ account by balances transferring the XYZ balance to another 0% credit institutions with no bal transfer fee.

I'll then start the cash advance process over. The goal is to have 6 accounts bearing 0% interest totaling over a $100k which is earning $$$ in the money market

I DON'T WANT THE LENDING INDUSTRY TO “CATCH ON” AND BLACK LIST ME IN THE EVENT I SOMEDAY NEED THE 0% FOR REAL REASONS. ANY IDEAS?

[tickle]

Owing to the economy in the US with houses going into foreclosures because of interest rates and people borrowing too much and not paying it back, don't you think this is pretty risky business right now! Plus your dollar is worth didly squat right now.

This may come around to bite you in the butt before you know it and then where will you be lowing thousands of dollars.

[Fr_Chuck]

No but opening and having more and more credit cards will lower your credit score. Part of your credit score is the ratio between your income and the max amount of credit available ( even if not being used)
So as you open accouints with 5000 or 10000 limits, you are going to reach a max ratio or even over.