Good if you don't need the money. But I would recommend you visit the finance section of fatwallet. There are some threads there about taking HELOC for low rates and then putting the money in CDs and making money due to the interest differential. The discussion mentioned some thing like 10-20K over a period of 5 years with 200K loan. Interest rates may have changed since then, but still worth looking into and sure will beat 500K united miles which is probably worth five grand.(Well in my poor economy travel sense)

He is talking about a HELOC ( Home Equity Line Of Credit ). It is worth 1,250 per 10k financed.

But the risk with a line of credit is tha tthe rate changes as interest rates rise. So you might be able to get a 5 yr CD paying 6% right now and only be paying 4% on your line of credit, but what happens when Prime goes to 6 or 7% ? Then you are losing money ( 6% of CD but paying 6-7% on your line of credit)