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Author Topic: Credit card checks to buy stocks? NO!!!!!
Dustoff 1
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This growing problem could ruin a young persons financial life, DO NOT DO IT.........

Bankruptcy laws have changed, and you could be saddled to this debt at enormous interest rates for years....

Just don't do it! period
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johnny14511
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what exactly do you mean?
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George
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quote:
Originally posted by johnny14511:
what exactly do you mean?
He is saying do not use the checks that the credit card companies are sending to play the market...Bad move...

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If all goes well then great, if not, make it work.
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Dustoff 1
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Johnny, George is right...
Don't you have credit cards?

The problem is people deposit the mailer checks as cash and then buy stock....

The rates can sky rocket, if there is a change in your financial history....

Some of the standard rates can be North of 28%..

In the old days the Loan sharks didn't even charge that kind of rate..

Some are being zapped that are not even late on that particular card..
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johnny14511
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oh ok i get you

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gotta make a grand AT LEAST daily man
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Dustoff 1
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Bump...
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hurricanematt
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I finally paid off my credit cards! woooooooooooyeeeeaaaaaaaaaaaaaaaa feels good!
I never bought stocks but did use and abuse online gambling (poker) I suck at poker! at least online.
Ive learned my lesson, trust me.
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Skyman
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If you could have a successful investment or be debt free, which is best? Debt free by a million miles.
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bdgee
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The two biggest barriers between the average family and reasonable financial security are credit cards and the absurd "keep up with the Jonses and refinance for a new car" so you always have a car payment".

Dump the credit cards and buy a $1000 used car and put $500 into refurbushing it. It'll last 3 - 5 years and you can bank what used to be car payments and start over with another when it can't be refurbushed again. You'll be getting interest rather than paying interest.
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