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STUPID MONEY

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TinfoilTophat

posted on Nov, 11 2023 @ 01:22 AM
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What would happen if you used a credit card to buy stocks of the company that gave you the card?

Cash advance... whatever mathemagics it takes.

15 months 0% APR

Who's making money?


PorkChop96

posted on Nov, 11 2023 @ 04:35 AM
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a reply to: TinfoilTophat

I could be wrong, but I don't believe you can buy stocks with credit cards, or anything beyond debit cards/bank accounts/cash.


TinfoilTophat

posted on Nov, 11 2023 @ 09:08 AM
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a reply to: PorkChop96

Let's say you use your Discover credit card to pull out $50 from an ATM.

You spend that $50 on Discover stock.

$50 of your credit line is invested in the same company you owe.

You let the stock ride during those 15 months of 0% APR.

Who's making money? Where's the money going to?


QRST4D

posted on Nov, 11 2023 @ 08:21 PM
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a reply to: TinfoilTophat

0% APR introductory terms typically do not apply to cash advances. Ask me how I know.




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