What Can Be Paid For With Credit Cards

[Patrick Q.]

Hello guys,

Reaching out to see if anybody has used credit cards for realtor commisions associated with aquisitions.

In my senario, I would be potentially paying the realtor fees as part of the deal structure.

It is relitively easy to get a 0% interest for 18-21 months on a credit card and there is no bank approval process to deal with.

I would rather not lay out the cash if I can finance this cost and pay it off over 20 months and keep the cash working elsewhere (or for reserves).

To be clear, I could layout the cash. But would rather finance it.

Any thought or info on this would be greatly appreciated.

[Alex L.]

I've used my credit cards for quite literally everything. However, some things the only way to pay with a credit card is by taking the cash out of it, sort of like a "loan." I'm not sure how realtor commissions work when it comes to paying them, but I would imagine it's not something you can just swipe your card for. Keep in mind, if you do take money out of the card, there's that 3-5% transfer fee for whatever amount you take out. So, if you're going to finance something this route, make sure the fees make sense. 

[Chris Teti]

Same, you can use cards to pay for anything if you know how to do it. And do NOT do a cash advance. Interest is way too expensive and you can only use part of your limit. I would also recommend using business credit cards as you won't have to worry about impact to your personal credit.