IB - prepaid debit card Canada

[gary17]

 hi- i am wondering if there are any canadian IB users here -  i recently got an email from them offering me a 'debit card' with mastercards...   it seems like it's basically a debit card against my margin  in my investment account.  

  is this like a way for me to spend money but without having to sell stocks (ie its margin borrowing).  so i'll be paying interest, but not capital gain taxes?   has any canadian investors studied this and that it makes sense? TIA!

[bizaro86]

My understanding is the same as yours.

 

Personally, I'd rather use a points or cash back Mastercard or visa and then transfer money out or IBKR once a month to pay it when due.