I can get a $120 interest-free loan each day, but I need to return the money in 30 days (when my credit card bill is due). There is no fee I need to pay; instead, I can get small cashback from this loan, which was discussed in another question.
My question is, is there any practical, risk-free, legal way that I can use this money to generate more money?
By the way, I am not in debt but have a mortgage.
Edit: The line above is inaccurate. It should be "the only debt I have is a mortgage".
After 30 days you are in a cycle where you receive $120 in physical cash each day and need to pay $120 in electronic cash each day. And in return you have $3600 of cash you can work with.
What you have to do in order to get that, is that you need to:
That will probably take about at least an hour of your time each day. 365 days a year. And you better not miss a single day, because you will get charged the $120 payback each day anyway, which you will then be missing for a month. Which is bad if your capital is currently caught in some investment scheme you can't or don't want to take them out of right now.
And what do you get in return? Well, there is not much you can do with $3600 that will create any useful return for the investment in labor of finding the right opportunities. Daytrading stocks is so labor-intense that you need at least $100k to earn minimum wage - even if you know what you are doing. Anything with fixed interest won't give you more than a few percent per year, so not nearly enough to make the shopping and bank trip each day worth the effort.
Effectively, you only have $120 more to play with, even if you roll over the debt.
In most countries, the amount of income that can be produced by $120 is not worth the effort you are proposing.
So in practical terms, no.
There Are No Shortcuts.
