Anyway to buy stock online with a credit card? or fund a stock trading account with one? ?
I really dont want to have to do bank wire transfers because I have a online business, all of my money is on paypal, now I do have a paypal credit card and a paypal debit card but I cant make bank wire transfers from a paypal account, so is there a way to use my cards? I am willing to switch to any stock trading site
- Net Advisor™Lv 71 decade agoBest Answer
In the USA one cannot buy stocks with a credit card per se.
One can write one of those cash advance checks, but that will cost a lot in terms of advance fees and interest. I would not advise that.
- 4 years ago
I know this is and Old post, but this can be done. I was just wanting to see if anyone else tried this as I had done many years ago. I did this back In the 2000 2003 years. Most credit card companies will send you checks to use for whatever purpose. The available cash limit can be used for this purpose of trading. The problem I see with doing this today is the borrowing percentage is not like it use to be. I had used 4 credit cards this way and had some sizeable trading capital to start with. The rate of borrowing this money was 0 percent for 6 months and 8 months, after that you normal rate would apply, and you could not miss a payment or it would go up. Today's rates are different as well as the transfer fees. So you had better be making a good percentage every month. Before you I even borrowed this money I had the money to pay it back, so for a novice to do this would be suicide if they trade like they play cards. I was using the concept of OPM and using my other money for something else. It worked for me but, you had better way all the things that can happen to you when doing this. If you have no fear and can eat lead for breakfast go for it.
- 6 years ago
Yup. It's called Loyal3. Best online brokerage out there. If you want to learn how to invest...well that's a different question, but Grand theft Auto 5 does an awesome job of simulating the stock market. If you have that kind of gaming skill then you can learn from the game and earn some money in the real world. Just make sure to do some research.
- TedLv 71 decade ago
If this happened, your creditor would be lending you money to buy stock in violation of Federal Reserve regulation T which covers lending to buy secutities on margin.
If you have a business you should have a checking account.
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- BIll QLv 61 decade ago
Credit cards usually only pay merchants 95 cents on the dollar. They never pay full value. Stockbrokers require full payment and you can't use credit cards for this.
- golferwhoworksLv 71 decade ago
not a chance as the broker dealer must get cash to open n account so wire is the only way unless the laws have changed