I want to invest the 50 days interest free amount that the credit card provides and make profit out of it

[T€ja]

Can we invest in mutual funds with credit card?

Ya u can brother except the returns isn't sufficient, bcs the conversion charges to the bank account is high

 

[RITIK Jain]

I want to invest the 50 days interest free amount that the credit card provides and make profit out of it, does anyone have any idea where to invest like in stocks or any other good place to invest, for that short term.



I don't know whether I'm thinking right or not, but is there any way something like it, will listen every honest reply




I've seen that we don't discuss about any particular stocks in this platform, that's fine,


I just want to know like about how to utilize that money properly in a benefit able manner bolke, no need of any information on any particular stock

First of all, you shouldn't use more than 30% of your credit card limit.
Second, if you withdraw cash from your credit card, it will apply enough charges to your card as various fees, except interest. So the final charges may surpass 2.5% to 4% per month and its huge.

So, I won't recommend that you should even think about to use credit card as an investment option.

 

[abhimarda]

I want to invest the 50 days interest free amount that the credit card provides and make profit out of it, does anyone have any idea where to invest like in stocks or any other good place to invest, for that short term.



I don't know whether I'm thinking right or not, but is there any way something like it, will listen every honest reply




I've seen that we don't discuss about any particular stocks in this platform, that's fine,


I just want to know like about how to utilize that money properly in a benefit able manner bolke, no need of any information on any particular stock

How exactly are you going to get the funds out from credit card to bank account? If you do that in name of rent, then please ensure that your rental payments in ITR matches with that since you are thinking to invest that so it will be something sizeable. The charges you incur on that cannot be made good on any safe investment. Neither is this recommended. Doing multiple such transactions can also alarm the bank to provide you more details of your transactions and they may simply block your card.

 

[prometheus]

Can we invest in mutual funds with credit card?

No, you cannot.

 

[shivanshupaliya]

Credit limit is a loan which you take from Banks my personal opinion is don't invest in MF or Stocks just find which bank will give maximum return in FD for short duration you can consider ICICI(4-5%),IOB(4.25%),SBI(4.5),AU Bank(7% in saving account), ya.. I know that it will give small return but your money is safe and you earn fixed return. And its better to take 2 days margin for any inconvenience.

Note : this is not an investment advice, please consult a registered investment advisor before taking any decision.

But if he will transfer money in his account there is going to be 2% transaction charges, which is around 24% per anum as compared to returns of 5-7% so its a loss.

 

[mkate]

Can we invest in mutual funds with credit card?

Credit cards cannot be used for any savings & investing products in India, because SEBI does not allow it.

 

[piyushgarry]

Yes, AU Bank provides up to 7.25% P.A. on savings bank accounts, but there is little catch. Look at the interest rate table, and you will understand.

If you have 11L in your saving A/C than bank count interest separately
1st 1L is consider then 9L and last remaing 1L.

 

[Gajendrakumar]

Y

I want to invest the 50 days interest free amount that the credit card provides and make profit out of it, does anyone have any idea where to invest like in stocks or any other good place to invest, for that short term.



I don't know whether I'm thinking right or not, but is there any way something like it, will listen every honest reply




I've seen that we don't discuss about any particular stocks in this platform, that's fine,


I just want to know like about how to utilize that money properly in a benefit able manner bolke, no need of any information on any particular stock

You could invest in bank nifty / small or mid cap etf because of its volatility your investment will quickly get profitable even though it goes loss. But nifty merely less volatile.

Disclaimer: This is not my personal advice. Contact your financial advisor and decide on your own risk