Rental Property Investor · Gilbert, AZ · Member since 2016 · 3k+ posts · 4k+ votes
When I got home last night I opened the mail and, like most other nights, received several credit card applications. Here are two of them:
I have successfully used credit cards such as these in the past to buy real estate or to rehab properties. But I would like to hear from other BiggerPockets members their opinions on using credit cards such as these to buy and rehab real estate. Please refer to the application images above for the details of each card.
Shiloh Lundahl There's a difference between using credit cards because you HAVE to and using them because you want an interest-free loan. Keep in mind that the stories you'll read are generally skewed by "survivorship bias". Accordingly, you'll hear a lot more from people who used them successfully than the people where things went sideways and pushed them into bankruptcy. The latter probably aren't in the real estate and certainly won't be lamenting their failure publicly. Certainly not as much as those who have found success.
I do not mess with cash advance at all. My cards I own do not have those balance transfer checks, they will transfer the balance directly to the other firm.
Do you know if business credit cards offer these balance transfer checks?
Yeah I did. I already own a 18 month 0% intro APR card but they don't give those balance transfer checks. Customer service says only way is cash advance. I googled your suggestions and a bunch of them of other cards popped up but it doesn't specifically say they offer those checks. I guess I have to call them tomorrow and find out which of them give the checks.