Can I use a credit card to buy a house?

Credit cards can be used to pay for the house, and it is not illegal; paying for the house with a credit card can be said to be convenient, eliminating the need to apply for a loan from a bank or ask others and the trouble of institutions borrowing money.

The money in the credit card is a credit fund given to you by the bank. The so-called "use it in vain" means that as long as you use the credit card during the interest-free period, you can enjoy zero interest for overdrafts. Cardholders are provided with a certain buffer period.

Except for a few banks that set card swiping limits for real estate consumption, credit cards from most banks can be used to pay down payments, but there are still some issues that need to be paid attention to. Use a credit card to pay the down payment for a house. Since the down payment for a house is generally large, multiple credit cards will be required to meet the payment needs.

So, if you want to use a credit card to pay the down payment for a house, you need to hold multiple credit cards.

What should you pay attention to when buying a house with a credit card?

1. Credit card limit increases will be affected.

If the home buyer is going to use a credit card to pay the down payment, the credit card limit increase may be affected. The down payment for buying a house is also a large amount, but the home buyer should not use multiple cards at the same time when paying the down payment. Because for such large-amount no-points transactions on multiple cards, the bank may suspect that the customer is cashing out and will strengthen risk control. If there are overdue or other problems, it will not be so easy to apply for a limit increase in the future. If you encounter a more serious bank It may also be reduced.

2. Be careful when using the temporary limit of your credit card.

Many credit cards can adjust the temporary limit. When buying a house with a credit card, home buyers must not blindly use the temporary limit, because the temporary credit limit on a credit card cannot be extended on a recurring basis or in installments and needs to be used once upon expiration. If you cannot repay in full when due, it is recommended not to apply for a temporary increase.

3. The repayment pressure is high in the short term, which can easily lead to overdue payments.

For those who buy a house with a credit card, whether it is a credit card or a mortgage, they need to repay it on time. If you apply for credit card bill installments after swiping the card, the repayment pressure will increase in the short term. Failure to repay in time will easily lead to overdue payment, and you will need to pay high interest and late fees. The most important thing is that it will affect the personal credit of the home buyer. Therefore, you must have a clear understanding of your own financial situation before making payment, and remember to blindly swipe your credit card. .

4. It may not be possible to pay the down payment with a credit card for a second-hand house.

If the home buyer plans to buy a second-hand house, he cannot use a credit card to pay the down payment when paying. When buying a second-hand house, the down payment is usually paid by bank transfer, so Everyone will no longer be able to use credit cards, and some areas with strict requirements clearly stipulate that developers are not allowed to use credit cards to pay down payments. Therefore, using credit cards to pay down payments is also subject to local policy restrictions and is not universal.

5. There are no points for buying a house with a credit card.

For home buyers, there are no points when using a credit card to buy a house. Credit card points cannot be accumulated for this type of consumption transaction. In addition, buying a house with a credit card will also have a certain impact on subsequent credit limit increases. Abnormal large-value transactions involving swiping a card to pay on a capping machine are easily considered by banks to be risky transactions, and subsequent applications for a credit card limit increase are unlikely to be successful.

Can I use a credit card to buy a house?

Before the Spring Festival, it is a good time for developers to promote sales, and there are endless discounts; for many house buyers, they also want to rush in early rather than late. mentality, hoping to complete the matter of buying a house before the year. But the down payment for buying a house is a big problem. Having to come up with a large amount of money at once is a lot of pressure for many young people. At this time, many people will think about whether they can use a credit card to buy a house?

Can I use a credit card to buy a house?

If the down payment for buying a house is not enough, it is a very common way to use a credit card to make overdrafts. However, usually the handling fee after applying for installment repayment will be relatively high. Most of them are people who really have no other way. An emergency method that will only be used in certain situations.

First of all, credit cards can be used to pay for a house, and there are no violations or violations; and paying with a credit card is simple and convenient, eliminating the trouble of applying for a loan from a bank or borrowing money from other people and institutions.

Secondly, the credit card itself is a credit fund granted by the bank. The so-called "use it in vain", if you use the credit card to overdraft during the interest-free period, you can enjoy the zero-interest discount, which provides cardholders with A certain buffer period.

Except for a few banks that set card swiping limits for real estate consumption, most banks’ credit cards can be used to pay down payments, so you can use credit cards to pay down payments for buying a house. However, the interest rate is also surprisingly high, so please consider it carefully!

Can I pay in installments when buying a house?

Yes! However, even if it can be paid in installments, the repayment pressure is still very high. The interest rate is much better than the bank's benchmark expected annualized interest rate. If you swipe a credit card of 150,000 yuan in 12 installments, you will have to pay more than 10,000 yuan in interest per year. Moreover, the adjustment range of the temporary limit of each bank is different, but the down payment cannot be paid in installments and must be paid off in full in the current period!

Is it feasible to buy a house with a credit card? What should I pay attention to?

First of all, thank you very much for answering this question for you here. Let me lead you into this problem. Now let us discuss it together.

When using a credit card to buy a house, the first thing you need to face is whether the city and bank allow it. At present, control measures have been issued in cities such as Suzhou and other popular real estate cities, which do not allow credit cards to be used for down payments.

In fact, not allowing credit card overdrafts to buy houses is not only a need for government real estate regulation, but also a risk control measure for banks.

For example, buying a house requires a loan. If you also use a credit card as a down payment, it is equivalent to adding another layer of leverage. Banks may not allow this due to risk considerations.

And when buying a house with a large amount of credit card, most real estate developers will use a capped POS machine. The handling rate of capped POS machines is lower, which can save merchants a lot of handling fees for large transactions. However, using a capped POS machine to "swipe a card" for large purchases can easily be judged by the bank as a risky transaction, and it will be difficult to successfully apply for a credit card limit increase in the future.

After September 6, 2016, the debit and credit separation policy will be implemented in credit card rates. The new version of the credit card processing fee no longer implements a cap on credit card processing fees for the real estate, automobile, and wholesale industries, which means that there will no longer be a cap on the processing fee for credit card consumption in the future. The introduction of similar new policies may become another obstacle to buying a house with a credit card.

Using a credit card to buy a house to pay the down payment is a disguised "loan" and liability for the home buyer, but if you want to use the provident fund to repay this money, there may be a relatively large sum. It’s difficult because it’s not easy to prove to the provident fund management center that the amount swiped through the POS machine was actually used to buy a house.

Therefore, when applying for repayment using provident funds, it is easy to be rejected.

There are still quite a lot of "risks" in using a credit card as a down payment to buy a house. Whether it is cost-effective or not, you still need to carefully consider. If using a credit card to buy a house gives you a month's interest-free period, and it helps you, that's still good. But if you have financial difficulties and you don’t hesitate to buy a house at high interest rates, this is not worth advocating.

The answers to this question shared above are all personal opinions and suggestions. I hope the answer to this question I shared can help everyone.

I also hope that everyone will like my sharing. If you have a better answer to this question, please share it and leave a comment to discuss this topic together.

I am here at the end. I wish you all to work happily and live happily every day, live healthily every day, have a happy family and everything, make a fortune every year, and have a prosperous business. Thank you!

As bank housing loans continue to tighten, many people are focusing on credit cards and want to pay for their houses through the "curve" of credit cards. Purchasing a house with a credit card is the same as ordinary consumption in the same form and method. There is no need to make an appointment in advance or activate related services. As long as the user's credit limit is sufficient, no matter whether the down payment or the full amount is used, it is acceptable. Compared with credit card overdraft, credit card installment payment is more cost-effective. Credit card overdrafts not only require a handling fee ranging from 1% to 2%, but also an interest of 0.05%. In comparison, installment payment is more economical. Credit card house purchase does provide convenience for users who cannot apply for a loan, but it still has many shortcomings compared with loans in some aspects.

1. Low limit

Compared with loans, the biggest drawback of credit card house purchase is that the limit is not strong.

The maximum credit limit for gold and ordinary cards is generally within 50,000 yuan, but not every cardholder can obtain such a high limit as 50,000 yuan. Generally, the credit limit for ordinary users is around 10,000 to 30,000 yuan. House prices are generally calculated in “millions”, and even just paying the down payment requires dozens of credit cards.

2. High fees

Although credit card installment does not have the trouble of interest, the cardholder needs to pay a handling fee to the bank. Compared with the loan interest rate, the proportion of the installment handling fee The higher it is, the greater the repayment pressure that cardholders will have to bear. Therefore, it is best for home buyers who are qualified to apply for a loan to avoid choosing a credit card to buy a house. In addition, although the credit card installment business solves an urgent need for "housing slaves", the interest rate is much higher than that of ordinary bank loans. Calculated based on the installment payment of 150,000 yuan, divided into 12 installments, the total handling fee in one year is 10,500 yuan, which is equivalent to an annual interest rate of about 7%. The current benchmark interest rate for one-year loans is about 4.9%. In this way, buying a house will The cost will be much higher, so not everyone is suitable to buy a house with a credit card.

3. No points

Although some banks support credit card installment purchases, almost all banks stipulate that there are no points for the purchase when users use credit cards to purchase houses. Even though the depreciation of points has become a mainstream trend in the market, for those who use credit cards to buy houses, hundreds of thousands of points are not low in value.

Special reminder:

We suggest that if there is a shortage of funds for home purchase, it is not a good idea to use credit cards to make up for it. The first choice is to ask relatives and friends for help. If that doesn't work, It is best to get a loan from a bank. "Buying a house with a credit card" is a last resort.

In the context of continued real estate control, if home buyers use credit cards to purchase houses, some commercial banks no longer accept the installment payment business for this type of consumption. The credit card customer service of banks such as Industrial and Commercial Bank of China, China Construction Bank, China CITIC Bank, and Hua Xia Bank clearly stated that as long as the POS consumption terminal displays the purchase of a house or a parking space, payment by credit card in the field of bulk commodity wholesale cannot be applied for installment payment. At the same time, the China Banking Regulatory Commission also requires strengthening the control of real estate loan risks, conscientiously implementing real estate control policies, implementing differentiated mortgage requirements, and strengthening list-based management and stress testing. If a user uses a credit card to "purchase a house" to pay the down payment, the consumer credit function of the credit card will undoubtedly be transformed into an inflow of funds into the real estate field, with immeasurable risks, and the current regulatory authorities are strictly controlling various risks in the real estate field.

It is basically not feasible to buy a house with a credit card. After the bank system recognizes that the merchant you are swiping your card from is a real estate merchant, it will not allow you to swipe your card successfully. Unless you cash out on other POS machines, the cost will increase a lot. The longest interest-free period for a credit card is 50 days. For a house worth 1 million, you need to pay a down payment of 300,000. If your credit card limit is less than 1 million, it is best not to spend the 300,000, otherwise the repayment pressure will be great.

If the funds to buy a house can be available in the short term, it is feasible: use a credit card to purchase and enjoy interest-free for a certain period, and use it to wait for the funds to be available or use your own funds for short-term financial management to obtain certain returns. It is not feasible if the funds cannot be provided in the short term: because the interest-free period of a credit card is short, it is close to two months at most, and the one-time repayment pressure is huge when it expires. If you make a credit card installment, you will face a certain proportion of installment fees and interest. (Usually higher than normal mortgage interest), and the installment period is short, usually up to three years, and the repayment pressure in each installment is high.

Now the state is focusing on controlling the flow of credit card funds into the real estate industry. Generally, credit card swiping has been restricted. You can still spend 10,000-20,000 yuan, but you cannot pay a down payment. Later, the lending bank will also check the credit report. , banks with credit card debts will also require you to repay them before they can grant a loan!

It’s not possible to buy a house with a credit card. Because you paid the down payment with a credit card first. In the next month, you will need to pay off your mortgage and credit cards. If your salary or savings are not enough to pay these two amounts. You may choose to use credit card installments and then cash out the money in the credit card. This will lead to a vicious cycle, resulting in more and more money owed to the credit card and more and more interest paid. The pressure will also increase. You may end up losing both money and house. The correct use of credit cards should be to relieve emergencies rather than to save the poor. If you can't control your desire for money, you will fall into the trap of credit card, borrow - installment - repay - borrow again - installment - repay again.

So as to pay more money

Is it okay to pay a credit card for the down payment of a house?

Theoretically, credit cards can only be used for daily consumption such as shopping, dining, and traveling, and buying a house is not among them. However, banks will not set restrictions on credit card swiping, and almost all developers have card swiping machines. As far as the actual situation is concerned, you can use a credit card to pay for the down payment of a house, but there are some issues that need to be paid attention to when using a credit card to pay for the down payment of a house.

Things to note when using a credit card to pay the down payment:

1. We use a credit card to pay the down payment for a house. Since the down payment for a house is usually a large amount, multiple credit cards will be required to accumulate the credit card. In order to meet the payment needs, if you want to use a credit card to pay the down payment for a house, you need to hold multiple credit cards.

2. If the credit card limit itself is not enough, you can apply to adjust the temporary limit. The scope of temporary limit adjustment for each bank's credit card is different. Some banks can adjust the limit according to 100% standard, while others can only adjust the limit. It can be increased by 80%. After applying for the temporary limit, the card holder pays the down payment by swiping the card. The cardholder needs to pay off the temporary limit in one lump sum before the current repayment date, and cannot pay it in installments.

3. Once a refund occurs when we use a credit card to pay the down payment for a house, the refund time will be relatively long. Therefore, we must pay attention to the distance between the credit card swiping date and the due date of repayment, and do not worry about the refund. If it is overdue for a long time, it will affect your personal credit.

4. Credit cards must be repaid in full and in a timely manner. Cardholders must repay credit cards based on their ability to repay. Do not spend excessively in advance to avoid being unable to repay in time, causing the credit card to be overdue and incurring interest and late payment fees. , and even affect personal credit records.

5. It is not easy to earn points in general banks. For transactions such as real estate, automobiles, public welfare merchants, and building materials wholesale, the profits generated are relatively low. Banks generally stipulate that there are no points for swiping credit cards. , friends who plan to earn points by paying down payments may be disappointed.

6. In fact, real estate credit card POS machines generally use UnionPay channels, so only UnionPay cards can be used. Single-currency cards cannot be used. When using a credit card to pay the down payment, you must know clearly which card you have.

Is it appropriate to use a credit card to buy a house?

There are many people applying for credit cards nowadays. Generally speaking, everyone applies for credit cards for daily consumption, that is, shopping, dining, and traveling. Waiting for consumption, and buying a house is not among them, but banks will not set restrictions on credit card swiping, and almost all developers have card swiping machines. As far as the actual situation is concerned, you can swipe your credit card to pay the down payment for a house. Moreover, credit cards can be used to pay for a house, and it is not illegal; paying for a house with a credit card can be said to be convenient, eliminating the trouble of applying for a loan from a bank or borrowing money from other people and institutions.

Swiping your card on a POS machine is the most common way to use a credit card, and it is a way of swiping your card online. When swiping a card, the operator should first check the credit card's validity period and cardholder's last name and other information. Then, select the corresponding POS machine according to the card issuing bank and the currency type to be paid, and slide the magnetic stripe of the magnetic stripe credit card on the POS machine, or insert the chip credit card into the card slot, connect to the bank, etc. for payment, and enter the corresponding amount. After the remote payment accepts the information, the POS will print out a receipt for the card payment (at least two copies). The cardholder should sign the receipt after checking that the information on the payment receipt is correct. After the operator checks the signature on the receipt and the signature on the back of the credit card (including that the name completely matches and the handwriting basically matches), the operator gives the credit card and a copy of the card payment receipt to the cardholder. At this point, the card swiping procedure on the POS machine is completed.

From the perspective of cardholders, online payment is considered to be the riskiest among several credit card payment methods, because malicious people may use phishing, eavesdropping on network information, and fake payments. Steal user information through other means. When paying online, you need to enter the validity period of the credit card, the Visa CVV2 code/MasterCard CVC2/UnionPay CVN2 number next to the signature column on the back of the card, the online transaction password, and sometimes you need to enter your name, a verification code randomly generated by the web page, etc. After the input is completed, click Submit to complete the online payment. With the development of the Internet, the security of online payment and credit card payment has gradually improved, which has also set off the trend of online consumption.

Pre-authorization is generally used to pay a deposit, that is, to freeze a portion of the credit card's available limit as a deposit. The process of pre-authorization is similar to that of manual order pressing, but the content of the call requires pre-authorization of the corresponding amount. It does not require payment, and there is no need to press the order. You only need to issue a certificate of receipt of the deposit.

Generally, pre-authorization will be canceled by the merchant during checkout. If the merchant forgets to cancel, you can call the merchant to request cancellation. You cannot cancel by calling the authorized agency. Or, wait for the bank to automatically cancel the pre-authorization (generally ranging from 7 to 30 days)

Credit card installment payment means that when the cardholder uses a credit card to make large purchases, the card-issuing bank pays the merchant a one-time payment of the balance. The consumption funds of the goods (or services) purchased by the cardholder will be deducted from the cardholder's credit card account in installments according to the cardholder's application, and the cardholder will repay according to the monthly credit amount. In the past, credit card installments mainly included bill installments and single consumption installments. Banks usually charged corresponding handling fees based on the number of installments. Whether it is bill installment or single consumption installment, the premise is that consumption behavior occurs first, and then the bank sets the installment repayment of the credit loan generated.

Most domestic banks in China have credit card installment services. Installments are generally divided into shopping mall (POS) installments, "mail order installments" and bill installments through the Internet, mail, etc. depending on the occasion. .

This ends the introduction to buying a house with a credit card and buying a house with a credit card. Did you find the information you need?