Berkeley CSUA MOTD:Entry 16945
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2025/04/05 [General] UID:1000 Activity:popular
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1999/11/23-26 [Finance/CC] UID:16945 Activity:high
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              exist here (so outdated!)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")
2025/04/05 [General] UID:1000 Activity:popular
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