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| Discuss Buying Stocks with Credit card at the General Trading & Investing Chat within the Traderji.com - Discussion forum for Stocks Commodities & Forex; Guys, I contacted KOTAK SEC guys today, they say NO BANK offer this. Well, it ... |
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#11
17th January 2008, 11:46 PM
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Re: Buying Stocks with Credit card
Guys, I contacted KOTAK SEC guys today, they say NO BANK offer this.
Well, it can be a good guess, CUST USE CC to pay for SECURITIES > CUST DEFAULTS THE CARDS > BANKS GOES WACKY. This opens up many cheaters to use CC to make payment for securities and run away (if no profit or a loss) This may hold bankers to not provide CC payments for sec/equities What do you say ??? 
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#12
17th January 2008, 11:59 PM
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Re: Buying Stocks with Credit card
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#13
18th January 2008, 10:17 AM
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Re: Buying Stocks with Credit card
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DID WE ASK THIS BROTHER >>>>>>>>>>>
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#14
18th January 2008, 10:18 AM
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Re: Buying Stocks with Credit card
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AS SAID?>>>>>>>>>>>
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#15
18th January 2008, 10:18 AM
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Re: Buying Stocks with Credit card
My Guess/Assumption
It is not as easy to use CC to buy equity. As Share market expect money to be paid in T+2(3) days to seller account. But CC pay only after 2 month. Hence this mechanism wont work. IF at all it works, cC bank charge 1.5%-3% intrest easily
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#16
18th January 2008, 10:21 AM
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Re: Buying Stocks with Credit card
Thsi hold true for any transaction, not necessary with sec transaction. remember, Major market for CC are retail buyers. IF they default, they never get any Loan(home loan, personal Loan) from any bank any time. so dont even dare not to default even 100Rs to cc, U will find it very difficult to get your Loan approved later if you need it
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