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Updated over 10 years ago,
can you buy a house with a credit card?
I have my first deal under contract. will close in the next week or two as soon as the title company is done with their work. I have a pre existing commercial line of credit set up that makes me the equivalent of a cash buyer for my real estate adventures with a 5% fixed interest rate.
I hear of people buying houses with credit cards, but how exactly? is there a credit card machine that can be used at closing?? i wouldnt think so.... but ive been wrong before. and pretty much all the credit cards offer the interest free part ONLY for purchases (credit card swipes), not cash advances which could be used to get that cashiers check.
I see credit cards with interest free offers for 18 months plus other boneses like miles or cash back. if i could figure it out, I could save about $3,400 in interest by avoiding the use of my commercial line for that period of time.
its a $30,500 house and im going to put 15k in renovations into it, so i can do the interest free thing for the 15k reno, but if i could only figure out how to also get that 30k house on the credit card interest free also......