Apr 10, 2014, 9:32 pm
Last edit by: MasterCharge
Limits
As of November 20th, 2014, Loyal3 does not allows purchases of $10, $25 and $50 with a credit card.
No Cash Advance:
Bank of America Virgin Atlantic
Bank of America Alaska Air
Barclaycard Arrival
Capital One (All Cards)
Citi Platinum AAdvantage Visa
Chase Hyatt
Chase Freedom
Chase Marriott
Chase Sapphire Preferred
Chase United MileagePlus Explorer
Chase United Business
US Bank Flex Perks
Cash Advance:
*Data Needed
Placing Orders
- Make sure when you place an order, the funding source is selected as your CC and not the Checking account that it defaults too. Loyal3 won't cancel the buy order, and some have suggested the only way is to put a stop on the amount by contacting your bank.
Current Stocks Available for Trade
*A total of sixty-two (62) as of 10/14/2014
IPO's for Trade Now
*
As of November 20th, 2014, Loyal3 does not allows purchases of $10, $25 and $50 with a credit card.
Maximum purchase generally limited to $10,000 per IPO and $2,500 per month per non-IPO stock.
Bank of America Virgin Atlantic
Bank of America Alaska Air
Barclaycard Arrival
Capital One (All Cards)
Citi Platinum AAdvantage Visa
Chase Hyatt
Chase Freedom
Chase Marriott
Chase Sapphire Preferred
Chase United MileagePlus Explorer
Chase United Business
US Bank Flex Perks
Cash Advance:
*Data Needed
Placing Orders
- Make sure when you place an order, the funding source is selected as your CC and not the Checking account that it defaults too. Loyal3 won't cancel the buy order, and some have suggested the only way is to put a stop on the amount by contacting your bank.
Current Stocks Available for Trade
*A total of sixty-two (62) as of 10/14/2014
- NASDAQ: FOX
- NASDAQ: AMZN
- NASDAQ: AAPL
- NASDAQ: ATVI
- NASDAQ: BWLD
- NASDAQ: DISCA
- NASDAQ: DNKN
- NASDAQ: EA
- NASDAQ: EIGI
- NASDAQ: FB
- NASDAQ: FTR
- NASDAQ: GPRO
- NASDAQ: GOOGL
- NASDAQ: HAS
- NASDAQ: INTC
- NASDAQ: KRFT
- NASDAQ: MAT
- NASDAQ: MSFT
- NASDAQ: MDLZ
- NASDAQ: MNST
- NASDAQ: PLAY
- NASDAQ: SBUX
- NASDAQ: VIAB
- NASDAQ: YHOO
- NYSE: GLOB
- NYSE: AMC
- NYSE: ANF
- NYSE: ARO
- NYSE: AEO
- NYSE: BABA
- NYSE: BUD
- NYSE: BRK.B
- NYSE: BBY
- NYSE: BKW
- NYSE: KO
- NYSE: DIS
- NYSE: DPS
- NYSE: GPS
- NYSE: HSY
- NYSE: HUBS
- NYSE: KATE
- NYSE: K
- NYSE: KSS
- NYSE: LB
- NYSE: M
- NYSE: MCD
- NYSE: NKE
- NYSE: NOK
- NYSE: PVH
- NYSE: PEP
- NYSE: ZQK
- NYSE: RL
- NYSE: SC
- NYSE: TGT
- NYSE: TWX
- NYSE: TRUP
- NYSE: TWTR
- NYSE: UL
- NYSE: VFC
- NYSE: WMT
- NYSE: WWE
- NYSE: YUM
IPO's for Trade Now
*
loyal3 free stock trades with credit/debit card
Mar 19, 2014, 10:06 am
#16
Join Date: Oct 2002
Location: SF Eastbay
Programs: AA Plt-Lite 2MM,HH Gld, MR Plat
Posts: 613
This is not for everyone, if you already invest in stocks keep reading. If you don't this is not for you.
I just bought 1 share($531) of Apple with a credit card, please only buy something you believe in and do your homework. I don't plan on buying and selling right away. Pick a slow mover like walmart if you want to try it out.
You don't have control of when they buy/sell within the day you pick, like a mutual fund.
Again be cautious. I own 35 shares of apple already, so I feel confident holding it for years if I have to.
You will have to file a schedule D on your taxes for these trades...still a great opportunity if its all true, ill sell my $531 in stock in a few days as a test and let you guys know the result.
http://www.mymoneyblog.com/loyal3-ea...ny-stocks.html
there is an older thread on this but it is very old and pre man spend section of FT.
I just bought 1 share($531) of Apple with a credit card, please only buy something you believe in and do your homework. I don't plan on buying and selling right away. Pick a slow mover like walmart if you want to try it out.
You don't have control of when they buy/sell within the day you pick, like a mutual fund.
Again be cautious. I own 35 shares of apple already, so I feel confident holding it for years if I have to.
You will have to file a schedule D on your taxes for these trades...still a great opportunity if its all true, ill sell my $531 in stock in a few days as a test and let you guys know the result.
http://www.mymoneyblog.com/loyal3-ea...ny-stocks.html
there is an older thread on this but it is very old and pre man spend section of FT.
Thanks
Mar 19, 2014, 11:08 am
#17
Join Date: Feb 2014
Posts: 511
I can't do it sadly as it does not allow those affiliated with a broker dealer (my employer).
This does seem exploitable to me if it works and I wouldn't have hesitated to try it. If you asked any day trader whether they'd take a guaranteed 2% profit each time they booked a trade (cash back on say, Fidelity card), even with the limited control over purchase price during that trading day, and they'd jump on it.
This does seem exploitable to me if it works and I wouldn't have hesitated to try it. If you asked any day trader whether they'd take a guaranteed 2% profit each time they booked a trade (cash back on say, Fidelity card), even with the limited control over purchase price during that trading day, and they'd jump on it.
Mar 19, 2014, 11:15 am
#20
Join Date: Mar 2013
Posts: 48
This actually ventures into very murky waters of taxation. IRS has always maintained that points/miles/CB earned by individuals with credit cards are not taxed. However, if you earn points/miles/CB with a business card, the value of the points must be deducted from the cost basis of the goods you purchased with the card. Assuming you deduct the cost of goods in your business taxes.
I would venture to say that IRS will take the same position with the stocks purchased with the points earning cards. They would expect the value of the points to be deducted from the cost basis of the stocks you bought. Proceed with caution.
I would venture to say that IRS will take the same position with the stocks purchased with the points earning cards. They would expect the value of the points to be deducted from the cost basis of the stocks you bought. Proceed with caution.
Mar 19, 2014, 11:21 am
#21
Join Date: Feb 2013
Location: Tampa, FL
Posts: 304
This actually ventures into very murky waters of taxation. IRS has always maintained that points/miles/CB earned by individuals with credit cards are not taxed. However, if you earn points/miles/CB with a business card, the value of the points must be deducted from the cost basis of the goods you purchased with the card. Assuming you deduct the cost of goods in your business taxes.
I would venture to say that IRS will take the same position with the stocks purchased with the points earning cards. They would expect the value of the points to be deducted from the cost basis of the stocks you bought. Proceed with caution.
I would venture to say that IRS will take the same position with the stocks purchased with the points earning cards. They would expect the value of the points to be deducted from the cost basis of the stocks you bought. Proceed with caution.
Mar 19, 2014, 11:23 am
#23
Join Date: Mar 2014
Posts: 194
TOC:
Maximum Amount of Purchases. Each stock available on the LOYAL3 platform will have a maximum amount for purchases as described either by a company in its prospectus or by LOYAL3, typically not allowing for more than $2,500 in purchase transactions, per stock, per 30-day period.
Maximum Amount of Purchases. Each stock available on the LOYAL3 platform will have a maximum amount for purchases as described either by a company in its prospectus or by LOYAL3, typically not allowing for more than $2,500 in purchase transactions, per stock, per 30-day period.
Mar 19, 2014, 11:28 am
#25
Join Date: Jan 2007
Posts: 56
Generally treated as a purchase, there is a discussion on other forum
http://www.fatwallet.com/forums/finance/1331913/
http://www.fatwallet.com/forums/finance/1331913/
Mar 19, 2014, 11:29 am
#26
Join Date: May 2011
Programs: US Airways Gold, Marriott Platinum, SW A List
Posts: 1,575
This actually ventures into very murky waters of taxation. IRS has always maintained that points/miles/CB earned by individuals with credit cards are not taxed. However, if you earn points/miles/CB with a business card, the value of the points must be deducted from the cost basis of the goods you purchased with the card. Assuming you deduct the cost of goods in your business taxes.
I would venture to say that IRS will take the same position with the stocks purchased with the points earning cards. They would expect the value of the points to be deducted from the cost basis of the stocks you bought. Proceed with caution.
I would venture to say that IRS will take the same position with the stocks purchased with the points earning cards. They would expect the value of the points to be deducted from the cost basis of the stocks you bought. Proceed with caution.
Plus, there are already people that have been shutdown by loyal3 for abusing this.
Mar 19, 2014, 12:18 pm
#28
Join Date: Feb 2013
Location: Tampa, FL
Posts: 304
Ehh anyone that is serious about MS and/or stock trading can track their trades either way. Now with multiple transactions of the same stock and all that stuff, if one doesn't know how to do it, pay for an upgraded version of Turbotax or take it to your friendly CPA.
Now the part I am interested in is how much $ and how often one could transfer to their checking account per month. Any further details on these shut downs?
Mar 19, 2014, 12:41 pm
#30
Join Date: May 2013
Location: AZ
Programs: AA, UA, US
Posts: 525