Credit Tips: Using a Credit Card to Buy a House

Posted On: January 1, 2006

archive
Posted: Mon Aug 30, 2004 9:30 pm
Post subject: Using a Credit Card to Buy a House

Brandy Johnson
Date: 4/14/2001 8:43 pm CDT

Hello, We are builing a house and instead of paying the interest on our construction loan (9.5%), we are trying to put everything on 0% credit cards. When one promotional offer is about to expire, transfer to another. However, I’ve found very few 0% offers on balance transfers and cash advances. Cash advances would be nice to help pay for some of our labor we are hiring out. Monthly payments to credit card companies will be paid from the construction loan. When we are ready to close on our home we will pay all the debt with our construction loan. If anyone has a better idea or can get me some more promotional offers (especially balance transfers & cash advances that would be great! Thanks!

archive
Posted: Mon Aug 30, 2004 9:31 pm
Post subject: Using a Credit Card to Buy a House

CreditWorks
Date: 4/15/2001 7:51 am CDT

I have a lot of promotional offers. They come to me because I exercise my credit every opportunity I get. Always take advantage of teaser rates, the more you use them the more you will get. I have built my credit to over $140,000, this is just credit cards. CreditWorks is the company I started with my sister in May 1996, it pays 19.47% APR on all loans. It is a great way to earn money with your credit and exercise it to get lower rates and higher limits.

http://www.creditsense.com

archive
Posted: Mon Aug 30, 2004 9:32 pm
Post subject: Using a Credit Card to Buy a House

Board Monitor- NK
Date: 4/16/2001 5:01 pm CDT

Most cash advances, even if at a promo rate, will probably have a fee (3%) attached.

While it is possible to do the promo rate shuffle, you need to be very careful not to get stuck without a place to transfer when the rate goes up! It would really wipe out your savings. If you want to do the shuffle, I would suggest that you have several accounts established with major issuers and a good track record. They will offer you promos every once in a while. I doubt you will get many at 0% though. It’s a lot rarer than it used to be.

Kat
http://creditexpert.tripod.com/home.htm

archive
Posted: Mon Aug 30, 2004 9:33 pm
Post subject: Using a Credit Card to Buy a House

CreditWorks
Date: 4/16/2001 6:01 pm CDT

I have 18 accounts just for that reason. 0% APR would be nice, but I am more than satisfied with single digit teasers. I invest in CreditWorks at 19.47% APR.

http://www.creditsense.com