Suppose a person has $5k in debt from his favorite credit cards. Suppose he signs up for a credit card that has 0% APR and no fees on balance and balance transfers for 15 months. Even though he is able to pay off the debt, he chooses to let 15 months pass while investing his cash in Treasury Bills paying only the minimum due on the 0 APR card. Now when the 15 months run out, he signs up for a new credit card that offers the same perks. So he is essentially borrowing at a zero rate for 30 months and making only minimum payments. I was just wondering about the following
Are there any legal concerns for a borrower engaging in this strategy? Specifically, this borrower has the ability to pay off debt but chooses not to do so.
Will the borrower be able to close a credit card as soon as the 15 months of 0 APR, 0 Fees on Balance and Transfers expire? Assume here borrower hasn't used the credit card in any way aside from transferring and storing debt.
Will the borrower find it difficult after 15 months to be approved for a new similar credit card?
Aside from the credit score and the hard pulls when you apply for credit cards, will there be anything else in the credit report of this borrower that will signal lenders about what this borrower did?
EDIT: My previous question wasn't very precise as it didn't specify what I meant by downside and I apologize.