Use credit card for resale purchase?

[TheDailyMoo]

I would only do the following if I had the cash to pay the $7500 you would put on a credit card.

Lots of credit cards that offer superior sign up bonuses (usually points) for spend that would be covered just by the $7500. Use those points during a transfer bonus period and now you have airline miles that you can get even better redemptions for award flights. That one DVC purchase gets you a few free flights in the end if you plan it correctly.

Or

Open a card that gives you interest free purchases for 18 or better yet 24 months. Take the money from your bank that you would've used to pay off the card and buy a treasury. Or a CD. Now you're making 5% on that money and at the end when you go to pay it in full you'll have close to 700 extra dollars (give or take depending on length and what rates do and all that. And that doesn't take into consideration the $2-300 sign up bonus you usually get with those cards...plus the 1 or 1.5% cashback on top of it. All you're doing is making monthly minimum payments. Just have to be responsible and not get in over your head and this is easy money.

 

[MyDogTink]

Bumping this with infor for ww.dvcclosings.com (DVC Title & Escrow). They let you put $5k on a credit card.

 

[Frederic Civish]

All I know is that credit cards are really convenient, and I love the points, but the interest rates eat me alive. So I would only use a credit card if you are going to pay it off within a month or so. Truthfully, the points you get typically are worth less than 1 cent on a dollar, and yet interest rates often run the equivalent of 2% per month (24% to 29% per year!!) so better to pay cash and stash away 1 or 2 percent in a travel bank account, or something.

 

[CarolynFH]

All I know is that credit cards are really convenient, and I love the points, but the interest rates eat me alive. So I would only use a credit card if you are going to pay it off within a month or so. Truthfully, the points you get typically are worth less than 1 cent on a dollar, and yet interest rates often run the equivalent of 2% per month (24% to 29% per year!!) so better to pay cash and stash away 1 or 2 percent in a travel bank account, or something.

I think a lot of posters here are using new CCs that come with a long interest-free period, like 12 months, or even the Disney Visa that allows 6 months interest free on DVC purchases.

 

[supercarrie]

All I know is that credit cards are really convenient, and I love the points, but the interest rates eat me alive. So I would only use a credit card if you are going to pay it off within a month or so. Truthfully, the points you get typically are worth less than 1 cent on a dollar, and yet interest rates often run the equivalent of 2% per month (24% to 29% per year!!) so better to pay cash and stash away 1 or 2 percent in a travel bank account, or something.

Most people who are into points/miles pay off their credit cards every month (or pick a card with longer term 0% interest, or a high sign up bonus). If you carry a balance with interest, zero point in playing the credit card points game.

Sign-up bonuses can be quite lucrative and if you use your points for travel, you can easily get more than 1 cent per point. Agreed though, never hold an interest carrying balance.

 

[Frederic Civish]

Most people who are into points/miles pay off their credit cards every month (or pick a card with longer term 0% interest, or a high sign up bonus). If you carry a balance with interest, zero point in playing the credit card points game.

Sign-up bonuses can be quite lucrative and if you use your points for travel, you can easily get more than 1 cent per point. Agreed though, never hold an interest carrying balance.

One problem I have is that I rarely use my points, so they just build up and up. It just doesn't seem convenient, somewhow, to use them.

 

[VGCgroupie]

One problem I have is that I rarely use my points, so they just build up and up. It just doesn't seem convenient, somewhow, to use them.

There are lots of ways to use them I would look into it. Mine have been used for flights. But you can always redeem for cash even though the payout isnt as good as flights/travel. It's not good to just let them sit, you never know what can happen and you may lose them.

 

[Brian Noble]

I've been trying hard to spend mine down lately. I was recently reminded me that they only go down in value....