PAYING HOME DOWN PAYMENT + YEARLY PROP TAXES WITH CASH BACK CC

[Anonymous]

Is paying for your home down payment or your yearly property taxes possible with a credit card?  If so how do you set this up?

[Anonymous]

I don't know for sure but it seems unlikely. It would essentially be "borrowing" the money and that's typically not allowed.

[MattH]

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@Anonymous wrote:
I don't know for sure but it seems unlikely. It would essentially be "borrowing" the money and that's typically not allowed.

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Correct, it is not allowed.  See here for more details:

http://ficoforums.myfico.com/fico/board/message?board.id=creditnews&message.id=4333#M4333

http://ficoforums.myfico.com/fico/board/message?board.id=loans&message.id=20399#M20399

Message Edited by MattH on 06-14-2009 07:33 PM

[Anonymous]

I've heard of such things using a prepayment to a point-awarding card such as Amex, for example, and then using the credit balance for payment. But, of course, you have to have the cash to pay the card company first...

[Lel]

I believe in California you can pay your property taxes with a credit card, but there's a 2.5% surcharge for the convenience.