Use CC for Real Estate Deal
Sep 25, 2016, 2:40 am
#1
Original Poster
Join Date: Sep 2016
Posts: 2
Use CC for Real Estate Deal
Hi,
Two months ago was approved for an Amex SPG. Last week I requested a credit limit increase and was approved. I now need a portion of the funds for a real estate investment and would like to be able to borrow some even though I have a low CA limit. I have seen conflicting answers as to the ability to load a Amex Serve using SPG, is this possible?
I only have about $2000 left to get my introductory bonus. I would like to reach this limit and then borrow about the same amount for my investment. Is serve the way to go?
Two months ago was approved for an Amex SPG. Last week I requested a credit limit increase and was approved. I now need a portion of the funds for a real estate investment and would like to be able to borrow some even though I have a low CA limit. I have seen conflicting answers as to the ability to load a Amex Serve using SPG, is this possible?
I only have about $2000 left to get my introductory bonus. I would like to reach this limit and then borrow about the same amount for my investment. Is serve the way to go?
Sep 25, 2016, 11:54 am
#3
Join Date: Jul 2013
Posts: 1,036
Hi,
Two months ago was approved for an Amex SPG. Last week I requested a credit limit increase and was approved. I now need a portion of the funds for a real estate investment and would like to be able to borrow some even though I have a low CA limit. I have seen conflicting answers as to the ability to load a Amex Serve using SPG, is this possible?
I only have about $2000 left to get my introductory bonus. I would like to reach this limit and then borrow about the same amount for my investment. Is serve the way to go?
Two months ago was approved for an Amex SPG. Last week I requested a credit limit increase and was approved. I now need a portion of the funds for a real estate investment and would like to be able to borrow some even though I have a low CA limit. I have seen conflicting answers as to the ability to load a Amex Serve using SPG, is this possible?
I only have about $2000 left to get my introductory bonus. I would like to reach this limit and then borrow about the same amount for my investment. Is serve the way to go?
Sep 26, 2016, 10:18 am
#4
Join Date: Feb 2014
Posts: 95
That's a really bad idea. All your profits from "real estate investment" will be eaten by interest on the CC and for cash advance it's huge.
Also: the amount if your "real estate investment" is shady and suspicious. Any good opportunity in RE begins with at least $50K and usually $200K or more. A $2K opportunity seems like a total rip-off. Don't do that.
As a general rule, if you don't have money you can "float" (i.e. super-extra savings that are not in 401K or black-day savings account), you don't invest them into anything. And definitely you don't borrow money from CC to invest. This is just stupid.
Also: the amount if your "real estate investment" is shady and suspicious. Any good opportunity in RE begins with at least $50K and usually $200K or more. A $2K opportunity seems like a total rip-off. Don't do that.
As a general rule, if you don't have money you can "float" (i.e. super-extra savings that are not in 401K or black-day savings account), you don't invest them into anything. And definitely you don't borrow money from CC to invest. This is just stupid.
Sep 29, 2016, 3:54 pm
#5
Join Date: Oct 2009
Location: Land of the parrots and parrotheads
Programs: Several dozen
Posts: 4,820
Meh - we did a $750.00 real estate deal involving a timeshare last week. A trial program, with a free week at a nice resort with no obligation to buy. 
Back in the overheated California RE market days buying a home by cash advancing all your credit cards for the down payment on the day of closing was popular. You just attributed the funds to a relative via a "gift letter." Heck, the bankers were even in on it and we all know that bankers would never be caught doing illegal or shady deals.
[/I]
Back in the overheated California RE market days buying a home by cash advancing all your credit cards for the down payment on the day of closing was popular. You just attributed the funds to a relative via a "gift letter." Heck, the bankers were even in on it and we all know that bankers would never be caught doing illegal or shady deals.
[/I]
That's a really bad idea. All your profits from "real estate investment" will be eaten by interest on the CC and for cash advance it's huge.
Also: the amount if your "real estate investment" is shady and suspicious. Any good opportunity in RE begins with at least $50K and usually $200K or more. A $2K opportunity seems like a total rip-off. Don't do that.
As a general rule, if you don't have money you can "float" (i.e. super-extra savings that are not in 401K or black-day savings account), you don't invest them into anything. And definitely you don't borrow money from CC to invest. This is just stupid.
Also: the amount if your "real estate investment" is shady and suspicious. Any good opportunity in RE begins with at least $50K and usually $200K or more. A $2K opportunity seems like a total rip-off. Don't do that.
As a general rule, if you don't have money you can "float" (i.e. super-extra savings that are not in 401K or black-day savings account), you don't invest them into anything. And definitely you don't borrow money from CC to invest. This is just stupid.