I have been thinking strategy and would like your opinion, heres what I came up with:
If I use a credit card with say $30,000 limit and 55 days interest free, I can basically get $30,000 for free as long as I pay it back within 55 days.
So I was thinking If i put the $30,000 on bluechip stock a few days before the record date, wait a month or so holding the stock, get paid the dividend and sell the stock presumably a little higher than I bought it or even break even. I could pay the card off by giving back the $30,000 and keep the dividends earned & any appreciation in the price of the stock.
Is this or another form of using other peoples money a good way to make money, granted there is alot of risk but no guts no glory right?
What do you guys think of this?