Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Creative Real Estate Financing
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated about 9 years ago,

User Stats

276
Posts
68
Votes
Jeremy Jackson
Pro Member
  • Real Estate Agent
  • Brandenburg, KY
68
Votes |
276
Posts

Buying with credit card......can I borrow money for free, really?

Jeremy Jackson
Pro Member
  • Real Estate Agent
  • Brandenburg, KY
Posted

So, I'm on to my next property (buy and hold). I'm wanting to put as little cash as possible up front for the next one. I'm buying in the 10-25k price range. I have two credit cards. Current balance of $0 on both. Credit card A has a limit of 10k, 17.99% APR, currently offering 0% APR on balance transfers until Aug17. Credit card B has a limit of 10k, 11.9% APR, currently offering 1.9%APR on balance transfers until Feb17.

So if I'm gaming this right, I can purchase a 10k property with card B, transfer the balance to card A with 0% interest, as long as it's paid by Aug17.  I understand that the interest skyrockets to 18.9% after Aug17.  I also understand that there is a 3% transaction fee ($300).

What am I missing?  Anyone else doing this?

  • Jeremy Jackson
  • Loading replies...