Buying Stocks with Credit card

[sudhanshubhasin]

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 ???

 

[logmein]

You love to talk like this ..... Don't you ?

a simple YES or NO is accepted and not your theory line.

So cut your own "boob"

GOT IT

"So cut your own "boob"" ......... U wud know wudn't you?

 

[sudhanshubhasin]

Ans is yes you can use the credit car for buying a stock. Go to ATM and withraw the cash what it allows and put that into yoru demat.

And if you ask me if the bse or the broker agent accepts your credit card to buy a stock for you the answer is NO as far as I know.;

DID WE ASK THIS BROTHER >>>>>>>>>>>

 

[sudhanshubhasin]

"So cut your own "boob"" ......... U wud know wudn't you?

AS SAID?>>>>>>>>>>>

 

[VasanSuccess]

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

 

[VasanSuccess]

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

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 ???

 

[bunny]

Here is a trick to buy stocks with credit card

Here is a trick to buy stocks with credit card. Basically, you need two bank accounts, each with different banks. One of the account will have a credit card and other will be linked to your broker.

The trick: Go to a shop and request the shopkeeper to exchange cash for card swipe. So its like the shopkeeper gives you cash of 5K and charges your credit card for it. Now deposit this cash in the other bank account which is linked to your broker. Now you can transfer these funds to your trading account and buy shares, futures, options, dept, etc. etc.

PS: I don't know how legal this method is. So if you get into trouble for whatever reasons, just pray to god but don't come to me.