Resale and credit card

[Wmuflyguy]

Thinking of buying a resale contract. Do most resale companies make you pay with wire transfer or can I pay with my credit card so I can get the points/miles?

 

[ELMC]

Every title company is different but as a general rule the largest amount you can put on your credit card is a $1,000-2,000 deposit. I once had a title company ask for a 20% deposit which was $6,000 and they made me pay via bank check, not credit card.

 

[Katie L]

I've never heard of any title company who will let you put the whole purchase on CC. Some let you do the deposit.

 

[mlittig]

I agree with Katie L and ELMC, you can only put up to a $2,000.00 deposit down and the rest has to be a bank check or a wire transfer when you send in your notarized closing documents

 

[Wmuflyguy]

Thanks, It was worth a shot.

When we got the direct sales pitch at Disney the agent made it sound like I could put it all on my credit card, made my eyes light up for the frequent flier miles. I didn't know if the resale market worked the same way.

 

[ELMC]

Thanks, It was worth a shot.

When we got the direct sales pitch at Disney the agent made it sound like I could put it all on my credit card, made my eyes light up for the frequent flier miles. I didn't know if the resale market worked the same way.

Yeah, it's one of the sacrifices you have to make when you buy resale. But the savings more than compensates for the lost miles. So it's a win, just not a win-win.