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Started By
Message
re: Using a Credit Card as down payment on car
Posted on 7/18/14 at 3:36 pm to LSU999
Posted on 7/18/14 at 3:36 pm to LSU999
quote:
Would this be a bad idea concerning my credit or credit score?
You have a 15K limit. You have 10K in cash. I assume you have no other stuff on this card or if you do, you pay it off each month.
Why in the heck are you worried about the one-month, at most, impact?
Go ahead and do it.
2
Posted on 7/18/14 at 3:39 pm to LSUFanHouston
No debt other than house note.
Just wasn't sure if it would hurt it by charging it more than 50% like that.
Just wasn't sure if it would hurt it by charging it more than 50% like that.
Posted on 7/18/14 at 7:17 pm to LSUFanHouston
I tried to game the system and it bit me in the butt. My brother was in a bad place and needed a car for a "new job" but didn't have any money. He had some insurance money coming from a settlement. I paid $15,000 for a used car, put it on a cc (no service charge) and figured I would cover a couple of months interest until his insurance money came in with the miles covering the interest. He ended up quitting his job, selling the car and gambled away the insurance money. Took me nearly a year to pay off the card.
tl:dr you can buy a car on a cc without a service charge, brother is a deadbeat, i am an idiot
tl:dr you can buy a car on a cc without a service charge, brother is a deadbeat, i am an idiot
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