■邢萌 进入8月份，多家商业银行发布公告，强调信用卡资金不得用于投资股票、基金等投资理财领域。 一方面，信用卡资金流入股市，会造成原有风控体系失灵，迫使银行投入更多人工、技术资源满足合规要求，显著加大运 营成本。另一方面，股市投资的高波动性与高风险性，容易削弱持卡人还款能力，进而推高信用卡逾期率与坏账率，对银行资 产质量造成冲击。 其三，相关违规行为扰乱股市正常秩序，易成为跨市场金融风险的触发点。 此类借助透支信用卡实现的"无本套利"行为，普遍带有短期投机属性，会加剧股市的非理性波动，干扰价格发现功能，埋 下风险隐患。从本质上讲，该行为是将股市风险转嫁至银行体系，进而放大了金融体系的风险敞口。一旦股市波动，若持卡人 因投资亏损无力偿还信用卡欠款，股市风险就会传导至信贷市场，信贷资产质量将受到冲击，最终对金融市场稳定运行造成负 面影响。 其一，用信用卡资金炒股，借贷资金成本高、期限短，显著放大持卡人债务风险。 信用卡资金并非持卡人自有资金，而是信用资金，每一分投入都有着"到期必还"的债务约束，并不适配于股市投资场景。 信用卡资金通常通过取现、套现等方式用于炒股，费率数倍于券商融资融券利率，远高于合规渠道融资成本 ...

Core Viewpoint - Recent announcements from multiple banks emphasize that credit card funds cannot be used for investment purposes, aiming to prevent financial risks associated with credit funds flowing into the stock market as investor enthusiasm rises [1][5]. Summary by Sections Credit Card Usage Regulations - Several banks, including Ping An Bank and CITIC Bank, have reiterated that credit card funds, including cash advances, must not be used for investment activities such as purchasing stocks, funds, futures, and other financial products [3][4]. - Banks have implemented stricter regulations on cash advances, stating that these funds cannot be used for any non-consumption activities, including investments [4][6]. Market Context - The A-share market has shown strong performance recently, leading to increased investor interest, which may tempt some cardholders to use credit cards for stock investments [5][10]. - The People's Bank of China and the former China Banking and Insurance Regulatory Commission issued guidelines in 2022 that explicitly prohibit the use of credit card funds for investment, and recent bank announcements reflect a deeper implementation of these regulations [4][10]. Risks of Using Credit Cards for Investments - Using credit card funds for stock trading can lead to severe consequences, including transaction failures and potential criminal charges for malicious overdraft [6][8]. - The high-interest rates associated with credit card cash advances can amplify investment risks, leading to significant financial pressure if investments do not perform well [10][11]. Recommendations for Investors - Experts advise investors to strictly adhere to the intended use of credit card funds for daily consumption and to avoid any attempts to circumvent regulations through indirect methods [11]. - Maintaining credit health by making timely repayments and understanding the risks associated with using credit cards as investment leverage is crucial [11].