The Law Dictionary

Featuring Black’s Law Dictionary Free Online Legal Dictionary 2nd Ed.


To begin, BORROWING money means that one intends to pay it back, and not shrug off the creditor(s) with no intention of doing so.  That said, the idea is to leverage 0% credit cards for the allowable term, then roll the unpaid amount over onto another 0% interest credit card, and so on, and so on ….  The “only” catch is being unable to obtain “another” 0% interest credit card and having to pay the interest.  The experienced and the experts seem to agree and recommend that one have a “line of credit” that can be used to cover the credit card amount, given that the line of credit interest rate is lower than the credit card interest rate.  Another not-so-good, not-so-bad ending is to find another credit card with a lower interest rate than the existing card.  The idea is to get a new card a few months before the expiration of the 0% interest rate term, then roll the balance over.  Some cards even have 18-month terms.  Nice!

Another course of action is using “options trading” and leveraging one’s existing portfolio, if acceptable, as collateral against the amount borrowed.  For some it is gravy on their potatoes but for others it is a little too much “smoke and mirrors”.  A person who might be interested in pursuing such a method is advise by experts to be very experienced in such a line of trading and be fully aware of the negative results that might befall the player.  It is mentioned here merely as a method that one can use.  To learn more, search away online and proceed at one’s own peril.

Still another possibility that seem rather odd is another twist on the zero interest credit cards.   Some cards have a zero fee on balance transfers, long zero interest terms – some up to 18 months, AND near zero interest on cash advance loans with long pay-back periods (with payback as little as 5% of balance), and very low interest (less than 4% – better than government rates) on the loan long-term.  The point is that it allows a person with the wiles and willingness to figure this out and use it to get what is in effect an unsecured loan from one’s self (the person owns the card-yes?) to make an investment or speculation.

Some of the standard ones are paying off one’s credit card balance before the end of the billing cycle.  This allows one to “buy now; pay later;” even if “later” is only a few weeks to a month away.  Some banks may give low or no interest loans for very short terms under if one is able to provide the bank with some service discounted or free in exchange.  Also, local or state Small Business organizations will often have very low interest rates and fairly long terms for the business borrower.  It is worthwhile to research all of these options.

All in all low or no interest money can be obtained but it will take some study and effort on the borrower’s part.  Nothing is ever truly free.  It is often simply relative to what we have experienced.


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