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While we are on the subject of charging exorbitant items to our credit cards, is it possible to buy a house with a credit card/charge card?
Hello Scene,
I've split this off to start a new thread since you changed the subject. It gets confusing when people start answering different questions within the same thread. All I changed is the title. If you want to change it to some else just click on "Options" and then "Edit Message".
MarineVietVet, myFICO moderator
I think you would be hard pressed to do that today/
Tried buying a car with a credit card and they said no, but they would take a check. They said I could challenge the charge with my CCC and they would be out the money. But if I wrote a bad check that would be a felony. Seems the same would apply for a house. YMMV.
@CreditScholar wrote:
Yes, we've done it before although it was quite awhile ago. We purchased 3 properties on an old Merrill Lynch card, but this must be going back 20 years or more. In total it was about $450k for the 3, all in the same day.
Don't take this the wrong way but how would you put $450k on a Bank of America card, not sure who backed the card 20 years ago but especially 20 years ago not sure any Visa that would offer credit lines over $250k which I believe is Bank of America' current highest CL... Further more lookin at your signature line I don't see even over $20k?
The cards I have listed are my own personal ones, while what I was talking about was for the family business. We had a special arrangement with Merrill Lynch that was pre-arranged beforehand. When you're born into the 1%, a lot of the standard rules don't apply to you. Take that for what it's worth.
@Creditaddict wrote:
@CreditScholar wrote:
Yes, we've done it before although it was quite awhile ago. We purchased 3 properties on an old Merrill Lynch card, but this must be going back 20 years or more. In total it was about $450k for the 3, all in the same day.Don't take this the wrong way but how would you put $450k on a Bank of America card, not sure who backed the card 20 years ago but especially 20 years ago not sure any Visa that would offer credit lines over $250k which I believe is Bank of America' current highest CL... Further more lookin at your signature line I don't see even over $20k?
lmao I live near Detroit I just saw a nice one for $7500 the other day
@Chris123nTx wrote:
If you have about a 10k limit or so on a card, you could probably buy three or four houses in Detroit.
If you were Born into the 1 % you wouldn't beon FICO forurms.........👌👌👌💩
@CreditScholar wrote:The cards I have listed are my own personal ones, while what I was talking about was for the family business. We had a special arrangement with Merrill Lynch that was pre-arranged beforehand. When you're born into the 1%, a lot of the standard rules don't apply to you. Take that for what it's worth.
@Creditaddict wrote:
@CreditScholar wrote:
Yes, we've done it before although it was quite awhile ago. We purchased 3 properties on an old Merrill Lynch card, but this must be going back 20 years or more. In total it was about $450k for the 3, all in the same day.Don't take this the wrong way but how would you put $450k on a Bank of America card, not sure who backed the card 20 years ago but especially 20 years ago not sure any Visa that would offer credit lines over $250k which I believe is Bank of America' current highest CL... Further more lookin at your signature line I don't see even over $20k?
@Smug wrote:If you were Born into the 1 % you wouldn't beon FICO forurms.........👌👌👌💩
@CreditScholar wrote:The cards I have listed are my own personal ones, while what I was talking about was for the family business. We had a special arrangement with Merrill Lynch that was pre-arranged beforehand. When you're born into the 1%, a lot of the standard rules don't apply to you. Take that for what it's worth.
@Creditaddict wrote:
@CreditScholar wrote:
Yes, we've done it before although it was quite awhile ago. We purchased 3 properties on an old Merrill Lynch card, but this must be going back 20 years or more. In total it was about $450k for the 3, all in the same day.Don't take this the wrong way but how would you put $450k on a Bank of America card, not sure who backed the card 20 years ago but especially 20 years ago not sure any Visa that would offer credit lines over $250k which I believe is Bank of America' current highest CL... Further more lookin at your signature line I don't see even over $20k?
You make a strong argument.
It's like hot chicks hanging out in chat rooms all day long, it just doesn't happen.