Can I Use a Credit Card to Buy Stocks?

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You can use a credit card to buy stocks, but it is not advised since interest charges will have to paid on purchased. Avoid trying to build wealth by getting in debt with credit cards, and consider advice from the owner of a debt settlement company in this free video on credit cards.

Part of the Video Series: Credit Card Debt Information
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Video Transcript

Hi. My name is Peter Repak. I'm the owner of Clear Financial LLC, a debt negotiation company. Can I use credit cards to buy stocks? Well, yes of course you can buy stocks on credit card. Would you really want to do it? No. I wouldn't advise it at all. Because what you are going to do is you're going to pay interest on that credit card balance. Now paying interest on a credit card balance is not really a good thing to build wealth. What you really want to do when you buy stocks, you want to make sure that you going to get some money in return. But when you use your credit card, if, in case you don't make your minimum payment or you fall behind or your stock doesn't really work out the way you really want it to, then you're going to end up with a tremendous amount of interest that you're going to pay for the rest of your life. So unless you really use it for cash flow and you do have money that you can pay back that credit card with, other than that, I wouldn't advise it at all because you're just going to be in a whole hell of a lot of hurt. Again, my name is Peter Repak. I'm the owner of Clear Financial LLC, a debt negotiation company. Thank you for watching.

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