Question About Buying House With A Credit Card

OK so this may sound extremely odd. When you go to close ona house, can you put the purchase on a credit card instead of bringing like certified funds to closing? I mean if you are buying outright not financing. The reason I am is asking is that I get points towards travel when I use my debit card which is linked to my checking which is where the money is at to buy the houses. If I use the debit card consistently I get a free trip to Europe. Any thoughts on the matter?

Thanks
Joe
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Comments(6)

  • 5MILLIONMORE10th September, 2004

    Man!!! Money is money always try to gain!
    If it adds to your profits and you have the money in the account why not! wink

  • dlitedan10th September, 2004

    I asked that same question to a broker and he said no. But I'm sure you could get a cash withdrawel from the credit card or get a credit card check and write it to yourself and the deposit it. but to bring the card to the closing table I was told no, but that may of just been that lenders rule.

  • InActive_Account10th September, 2004

    You will never be able to charge a home closing with a credit card. Besides can you imagine what the lender who just approve a loan for you would look like if you tried to do this.

  • myfrogger10th September, 2004

    You'll have to get a cash advance but I doubt you'll get points for using the card this way.

  • Bruce10th September, 2004

    Hey,

    I am not sure about all cards, but the ones I have start charging interest on day one for cash advance (which makes sense if you think about it). So this would seem to be a losing proposition.

  • classimg10th September, 2004

    EXCHANGE your credit for cash! If you know someone with the cash for a huge purchase (not a home) like a car. Offer to purchase with your credit card and they give you the Cold Cash!

    Not a bad idea if you can find a few to interested parties.

    Food for thought!
    [addsig]

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