Credit card for closing?

[lexxus379]

Are you able to use a credit card to purchase a contract? I noticed one title company said only bank check, cashiers check or wire for final payment. I would like to get my cash back and then pay it off.

 

[MICKIMINI]

No brokers that I know of take a credit card for final payment. Some will take a deposit. I've bought 9 resale contracts and those points would have been a bonus. It would cost the broker a percentage of the payoff, so I understand why they don't.

 

[lexxus379]

No brokers that I know of take a credit card for final payment. Some will take a deposit. I've bought 9 resale contracts and those points would have been a bonus. It would cost the broker a percentage of the payoff, so I understand why they don't.

That’s what I figured but thought I would ask just in case! Thx

 

[gharter]

Couldn't use a credit card for either or our resale contracts.
Would have been nice.

 

[Cyberc1978]

I think the reason they don’t is that the credit card companies charge a fee which increases with the amount charge for each transaction.

I think they would allow it if you opted to pay the credit card fee.

With my very first timeshare resale contract I did this and it worked fine. This was however not DVC but still a title company was used.

Some companies allow you to increase the down payment instead of ie $1,500 you can put $6,000 as the deposit.

 

[andyc83]

Direct allows you to use a credit card over multiple swipes.

 

[lexxus379]

I think the reason they don’t is that the credit card companies charge a fee which increases with the amount charge for each transaction.

I think they would allow it if you opted to pay the credit card fee.

With my very first timeshare resale contract I did this and it worked fine. This was however not DVC but still a title company was used.

Some companies allow you to increase the down payment instead of ie $1,500 you can put $6,000 as the deposit.

Oh thats a nice option. Do you know which ones?

 

[lexxus379]

Direct allows you to use a credit card over multiple swipes.

Good to know! Thx

 

[ElizabethG]

I bought direct on a cruise. I used Disney financing. The amount due was higher than my cc limit. I used my cc to make a payment, then paid that off, repeat. It took three cycles to pay it off. But, I got a load of points!