I'm a little invested but I feel like right now us a good opportunity for me to make bank.
So to that end what are some good ways to buy stock with my credit card? Should I just buy some gold then immediately sell it etc. My limit is 27k for all three cards.
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Max out your credit card on bitcoin
JNUG
hahaha +1
Just looked back at this. I hope my guy listened LMAO
Interactive Brokers gives you super-cheap margin rates, and they have their own MasterCard. Don't know if that helps. Look into that.
Edit: Not a credit-card https://www.interactivebrokers.com/en/index.php?f=26451
I meant buy gold as a cc purchase then sell the gold for cash. Looking for ways to get cash to investment
Yeah, simply don’t do that. Save a little first.
Don't tell me what to do .
What interest rate do you have on your credit card?
15% why?
If you don't think you can get >15% return on your investment in 1 month or less than I wouldn't try this. You'd already be overpaying for your investment by 15% since you'll owe that much to your credit card issuer on whatever balance you use to invest.
he thinks u are using the credit card in order to make the investment. I have the same question, if buying gold would be the best way to turn credit card money into cash? hope you found a remedy. i havent yet.
You'll lose at least 2-3% buying from a dealer and re-selling to another dealer, but you could do that and turn it into cash. It really only makes sense to do this if you have a 0% APR for the first x months that you have the card and want to use that as free leverage w/ which to invest.
I’d recommend filing for bankruptcy now just to be proactive
Alright. The first thing you want to do is check out /r/wallstreetbets for a few reasons:
You can see, yes you can make 50%+ off your SPY options that are currently out of the money and expiring in two hours. Don't listen to the naysayers.
There's a support group for when you blow up and are in massive debt with huge interest. Some guy put 5k in robinhood and turned it into -50k without even having margin enabled -- you aren't the biggest idiot around.
But what you do -- create a venmo account, pay yourself from your credit cards to avoid a credit advance fee(3% fee), then put the new money into your brokerage account.
I personally recommend buying SPY calls or puts after 2 or 3PM. For every call or put you buy you're getting access to about 27k in leverage (approx) and they are under $100 ea sometimes when they are that close to expiration. You'll be broke or in a brand new yacht by market close.
Godspeed, you may be the next mod of wallstreetbets.
I remember that guy. He was bragging about making 'risk-free money' and then a few days later had made a 2,000% loss.
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