Taking advantage of 0% APR credit card offers?

[Matthew G.]

Hello all,

I am new to the BP community. My partner and I are looking to invest in a multi-family property in the Seattle area. We are currently searching and analyzing properties on the market.

My question is regarding "free" credit offers. I have received two offers some time ago from my current credit card provider for a 0% APR direct-deposit (for 1 year). There is only a small fee to accept the offer and make the deposit into a checking account. After some research, I'm thinking it would be a good opportunity to proceed with the offer and to set aside the "free" money for use for repairs/renovations and holding costs to have some extra cushion.

There seems to be much debate on the use of credit cards in real estate investing, but considering my circumstances ..

1. The money is borrowed at 0% APR for 1 year

 2.  My total credit utilization would remain < 30% after taking the cash

 3.  My current credit score is ~770

 4.  If I "really" needed to, the money could be paid back within a few months.

 5.  I will be seeking financing with my partner, who also has excellent credit.

My main concern is the amount my credit score would drop when taking the offer, and if this would adversely affect our ability to apply for financing. My current belief is that the affect would not be adverse, given that my total utilization would remain < 30%.

I would appreciate hearing anyone's experiences taking this type of offer and how it worked out.

Thanks!