11/23 Are there any online brokerages in the US that allow you to deposit
cash from your credit card, rather than bank transfer/check/wire?
-John
\_ Jesus, you sure you want to do this? I think margin rates are
lower than most credit card rates. And this is a way quick way
to lose your shirt.
\_ No you misunderstand; I don't want to invest on credit (I
always pay my full balance anyway.) It's just that a credit card
is a very easy way to transfer money from Switzerland to the
US without going through difficult Swiss banks and stupid
American banks. Plus, the concept of a check doesn't really
exist here (so outdated!) -John
\_ Finance charges accrue from day 1 on cash transfers.
\_ So now you're funneling all those ill gotten Swiss bank held
gains into our God Fearing Peace Loving country? Go home ya
Euro-Mafia criminal! We don't want your blood money!
\_ Fear the day when I try to _avoid_ anything by moving
it to the US. Maybe I'll just invest here. -John
\_ In the blazing hot Swiss market? A bastion of
competition and capitalism making millions for
all the little guys.
\_ Do I care if I make x% return in the US or
x% here? Not really, plus my income &
capital gains taxes are way lower. -John
\_ Your return in the US = Swiss Return +5000.
\_ BTW, Visa charges 3% service charge for a credit card transaction.
Depends on the amount,the service charge may be more or less. Thus
you lose 3% in the market already even if you can do a credit
card transfer. Besides, I don't know if your Swiss Visa card
is US $ based. You may be charged another round for currency
conversion.
\_ No, it's a Swiss Mastercard and I have never been charged
any fees except ATM withdrawal and my annual charge. -John
\_ That's because the merchant actually pays
the credit card transaction fee. I doubt
, however, that your Swiss bank will be willing
to pay the 3% or so. (Ideally, the merchant
always pays the transaction fee, but people
have found ways to get around it. That's way
you can get a cheaper price if you pay cash
instead of by credit for big purchases like
cars).
\_ Is it a Eurocard? Most European "credit cards" are
technically debit cards. -muchandr
\_ there's no "conversion", it ain't cash.
\_ well, Visa charged me conversion fee when
I bought stuff in Tokyo. And I wasn't paying
cash.
\_ Because the Yen is yucky.
\_ AH HAHH HAH YOU'RE ALL DOOMED! TAX-PAYING IMPERIALIST SLAVE
PIG-DOG FOOLS! We own you! UBS owns you! ZOG owns you! We will
snap the whip of control over all you drones' backs from within
our invincible mountain fortresses full of ill-gotten laundered
colombian nazi drug money gold bars! Bwahahaha! -John ("Hans") |