Credit Cards When Furnishing a Home

[Victoria Phifer]

Hi,

I'm purchasing a rental property that we're going to Airbnb. We're going to furnish the property and I was wondering if anyone has done this, and if so what credit card do you recommend? I'm going to google and look some things up but was wondering what kind of credit cards this community recommends.

[Theresa Harris]

Look at thrift stores and second hand items for some thing-get sturdy things in good condition.  Some furniture places (for a small fee) allow you to buy now and pay within 6 months interest free.  I did that about 20 years ago when I was starting out and bought my first home. I didn't go over board, but having to buy dining room table, 2 beds and sofa and table for my living room added up and for $50 I was able to delay paying by 6 months interest free.

[Nathan Gesner]

Quote from @Victoria Phifer:

I don't recommend charging anything on a credit card unless you have total control of your finances and can pay off the balance every month.

I charge everything I can to credit cards, but I pay the balance off every month, 100% without fail. This enables me to collect points and travel for free. My preferred card is with Capital One.

[Jonathan Greene]

I agree with @Nathan Gesner here. Credit cards are to accrue points every month and pay off. If you are going to lock in that debt and let it sit, it's not wise. And if you don't have the money to furnish the property for Airbnb right now, maybe it was not or is not the best decision?

Depending on your STR area, the table stakes to compete is very high right now so your furniture and amenity spend is going to be way higher than you think. Maybe MTR is a better strategy for you because you will spend less on furnishings (affordable, durable, and no amenities) and have less tenancy.