Attempting Some Bold Bets

One big lesson I have learned from other entrepreneurs and my own entrepreneurship journey is that one should be comfortable with taking bold steps. Make bold bets. Rather than always playing safe, learn to quantify your risks -- the downsides. Take actions that will pay handsomely well if your plan succeeds but won't damage you too much if all goes bad.

And that is what I am attempting to do next with my financial investments. I am going to get at least one credit card -- either from Standard Chartered bank, Stanbic IBTC, Diamond Bank or First Bank -- and will take monthly interest-free loans from it to put in the money market for annualized 18% (or whatever it changes to) return rate. The Naira credit card issuing banks all offer 40 to 55 days interest free personal loans on the card. 

I intend to take out the max amount and put in my ARM or Stanbic Money Market fund. Then withdraw the money out from the fund after 38 to 53 days to make the repayment on the loan while enjoying a nice 1.5% to 1.8% on the original sum. It will be about N36,000 on a N2,000,000. And in a year, just slightly less than N360,000 (accounting for the no interest two to five days to repay and re-invest per cycle). But after a while the compound interest part will more than compensate for that.

It is currently an experiment I want to try out. On Wednesday I am going to call the banks for the procedure and verify that I won't be breaking any terms. I will also make sure to update you with the outcome.


  1. I doubt this would work. It is not free to take cash out of a credit card (normally). The CC is to make payments. Its is not the best instrument for cash withdrawal. Use your car for uber instead.

    1. Hi Sumbo,

      Yes, the interest free days don't apply to cash withdrawal. I will use Quickteller and online payment to do the investment transfer like a regular purchase.

      Will keep you all updated on how it goes.


  2. Mr Michael xup, u've nt updated us O 😀. I'm jus wondering if it worked.

    1. 😢 I didn't work. I couldn't get any of the offering banks to give me credit cards. Only salaried folks were given and sometimes with partnership/approval of their company.


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