Using a credit card to buy a house

Fondu · 08-08-2013 5:59pm #1

Hi Guys,

I know its a bt strange but i was wondering is it possible to use a credit card to buy a house?

Im joined Ulsterbank and they operate a loyalty card system so for every euro you spend, you get one point. I know its petty ,but i could easily get a few hundred euro worth of voucher for dunnes.

My solicitor told me that they could only do electronic transfer. Can you use an credit card for this.

My plan would be to transfer x amount of money in when i need to complete the purchase.

I know its mad but its still an extra few hundred

ct5amr2ig1nfhp · 08-08-2013 6:01pm

Have a read of the T&C's of the Loyalty Card System. I'm sure Ulsterbank have a limit on the number of points you can earn in one transaction.

Cuddlesworth · 08-08-2013 6:14pm

Credit card charges are anywhere from 2% to 8% of the purchase. I'm sure the seller would choose to not complete the sale via card with this in mind.

col.in.Cr · 08-08-2013 6:22pm

Might work for one of these babies though
http://www.ebay.com/itm/Great-Looking-Single-Family-Home-in-Flint-Michigan-Great-ROI-3-bed-1-Bath-/141030889455?pt=Residential&hash=item20d61897ef

L1011 · 08-08-2013 6:23pm

Not a hope in hell.

Nobody is going to take the transaction hit, estate agent isn't going to have a merchant account. Solicitor might have a merchant account, but see the first issue - they're not going to take the transaction hit.

The only reason UB can offer points is that they charge the merchant significantly more than what you're getting back in fees to process the transaction.

Using a credit card to buy a house

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