HELP Buying Shares with a credit card

twodoor247

I am trying to locate a reasonable broker / internet house to buy shares using a credit card........ Any recommendations

gt94sss2

I don't think any broker will let you buy shares with a credit card - nor do I think would the credit card company would be happy about it...

A debit card yes, but not a credit card..

Regards
Sunil

Aegis

If you did manage to pay for shares with a credit card, it would probably be considered a cash advance (like when you purchase foreign currency), and the charges imposed by them and your card provider would more than outweigh any benefits attained by using the credit card.

Why are you wanting to do this?

purch

I remember back in the late 80's when NatWest and Amex first introduced Gold Card accounts for people who earned over 30K.

Lots of guys I knew used their new 10 grand overdraft limits to buy shares in the Bull markets of the time, with the usual :mad: consequences !!!!

obsessed_saver

Don't do it. :P

isofa

To echo everyone else... Only use a debit card, I'd be surprised if anyone let you purchase shares with a credit card. You have to use cleared funds, not credit - and if you don't have the funds, do not invest at all.

Xbigman

You could go for a zero rate deal and juggle balance transfers around so you ended up with a balance on a credit card at 0% but you buy the shares with a debit card using the cash the credit card debt has freed up. Look this up on the credit card board for more details.

However, it will take time to set this up so if you are thinking of taking advantage of current low prices and market volatility then it might take too long.
Regards



X

[Deleted User]

in the 1930s the majority of the market was bought with credit too

ratttyo

Yes - those clever yanks have borrowed trillions from the rest of the world and then diluted the dollar into oblivion. Result= debt reduced. Second result= exports pick up.

It's time to bring the money home.

Shares unless you have 100k to lose don't do it. I'm addicited to the markets and sure great money can be made but 90% lose!!!!

Most persistant traders that actually stick with it occur 3 wipeouts or so. Only way to learn and its expensive. Been doing it for 9 years now.