HIGH SPEED ACCESS {HSAC} Message Board

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Technology Stocks : HIGH SPEED ACCESS {HSAC}

HSAC 13.88

-5.4%

Dec 18 4:00 PM EST

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To: ahhaha who wrote (225)	6/22/1999 11:07:00 PM
From: Mary Baker	Read Replies (2) of 963

No, you assume too much! I received a solicitation for a credit card (actually I have received many, many solicitations) for 3.9% per annum. It also included credit card checks. Some of these lower interest rate credit cards have a 6 month intro rate, while others have 12 month intro rate. I wrote a check to E*trade (credit card check) for the MAXIMUM amount I was allowed from the credit card company. It happened to be $16,500. I have bought and traded many different stocks with that money. Which included 200 shares of HSAC at the IPO price of $13.00 It seems to be arbitrary what the minimum monthly payment for the borrowed money is that you must pay back each month towards the principle. For this particular card they are requesting $350 a month (includes finance charge). (this price changes as the balance of the loan becomes lower) I have made over $7000.00 on that $16,500 loan...and paid around $100 in finance charges total over the last few months...so it has been a profitable gamble on my part so far. The stocks I have bought with this credit card loan money have been my "trading" stocks. I have bought and sold many of these stocks. When I sell them...I use that profit to pay the balance on the credit card. Simple as that. The only credit card debt I carry each month...is on these low interest cards that I borrowed money from to buy "trading" stocks. I will have these credit cards paid off before they convert to the higher "non-introductory" rates. I just saw these credit card offers as a way to use "cheap" money, instead of using margin loans. I have other stocks that are my "investment" stocks...that I do not trade and are paid for with free and clear savings! Hope that helps! Mary

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