How soon can i get a second crdit card?

[jsucool76]

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@distantarray wrote:

my parents think credit cards are the devil..... my mom's FINALLY coming around cause I have 50k in the bank right now, and they're willing to help me for a house. But over $10,000 would raise eyebrows since we're trying to buy a small perfect condition house in a good neighborhood for $78,000 CASH ONLY house.

So I said let's do this, give me $10,000 for my car, and I'll put $18,000 on my credit card (5-6% APR) so that would only be about $100 a month in interest rates. Which we could pay off in 2-3 months anyways so not worried. Since my parents are doing this together. So this way I can buy the house for CASH and get an amazing deal on it, and build my credit as well. So... yea =)

Best part is this way after it's paid off, I can also have a better relationship with my bank and get another house if I find a good deal with financing. My mom was like =O

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You could probably get a rate half that in a mortgage, and then have 30 years to pay it off (depending on your credit) Judging by the fact you have a 6% APR CC I'd say you'd be fine for a good mortgage. 

[distantarray]

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jsucool76 wrote: 

You could probably get a rate half that in a mortgage, and then have 30 years to pay it off (depending on your credit) Judging by the fact you have a 6% APR CC I'd say you'd be fine for a good mortgage. 

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I know this, but your reading over the part where it says CASH OFFER ONLY. no mortgages are accepted. Many cheap homes are putting this contingincy on their listing because next year they'll have to pay HEAVY taxes if they do not sell this year. If a primary residence is sold this year, your tax free on a short sale.

The house was purchased for $220,000 in the market high, so $220,000 - 78,000 = $142,000  if they do NOT sell this year, and the law protecting home sales expires next January 1st. They will have to report $142,000 as INCOME for the year of 2013 on a 1099. Having to pay income on a $142,000 + your annual income is painful.

[jsucool76]

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@distantarray wrote:

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@jsucool76 wrote:

You could probably get a rate half that in a mortgage, and then have 30 years to pay it off (depending on your credit) Judging by the fact you have a 6% APR CC I'd say you'd be fine for a good mortgage. 

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I know this, but your reading over the part where it says CASH OFFER ONLY. no mortgages are accepted. Many cheap homes are putting this contingincy on their listing because next year they'll have to pay HEAVY taxes if they do not sell this year.

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lol, despite it being in caps in your OP I did not see that at ALL. rofl, my bad  

[distantarray]

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@jsucool76 wrote:

lol, despite it being in caps in your OP I did not see that at ALL. rofl, my bad  

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lol no problem, but yea it's pretty good deal, only possible cause of my credit cards and good credit <3

[Anonymous]

1. Yup they do they have like the best cards in the whole USA because they are awesome  this is our girlfriend btw !

[distantarray]

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@Anonymous wrote:

1. Yup they do they have like the best cards in the whole USA because they are awesome  this is our girlfriend btw !

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our girlfriend? you share yours? jk

[Anonymous]

haha never im devoted!!!!!!!!!!!!!!