1. It will be recognized by the bank that there is a suspicion of cashing out
The down payment of a house is different from that of ordinary consumer goods, and the amount is usually large. Some people's credit cards are not high enough, so it is difficult to pay a large down payment with one card, so they use multiple cards to make up for the shortage of the amount. Many credit cards make large consumption at the same time in the same merchant, which is easy to be recognized by banks as cash-out behavior. Cash-out is an illegal act in itself, ranging from being blocked by the bank's recovery of funds, to being included in the bad credit record.
2. Real estate type transactions cannot be staged
Some property buyers have paid the down payment by increasing the temporary quota and using multiple credit cards, expecting to reduce the repayment pressure by paying in installments through bills. However, real estate transactions cannot be staged, and only one-time payment can be paid off. Taking the bidding behavior as an example, it was explicitly mentioned in the official website that "advance cash transactions, installment transactions, real estate transactions, RMB funds that have been applied for foreign exchange purchase, and other transactions designated by the Bank cannot apply for bill installment". If you can't repay in time on the repayment date, personal credit information will be tainted, which is not worth the loss.
3. The refund process is complicated and the risk is difficult to control
It is good that everything goes smoothly in the purchase process, but not all problems can be completely controlled by yourself. Once the contract relationship breaks down due to uncontrollable factors, it will involve the refund problem. Even if the developer agrees to refund, there will usually be complicated procedures, and the specific refund time is difficult to control. The time required for the whole refund process is likely to have exceeded the interest-free period of the credit card, so it is necessary for the buyers to make their own repayment first. If there is a problem with the capital chain at this time, then there will be a situation where the payment is not made.
4. Pay the card handling fee yourself
There is a handling fee for credit card consumption, but this handling fee is usually borne by merchants, but it is not the case in house purchase transactions. Developers take advantage of the psychology that buyers have insufficient funds and want to buy a house, and then demand that the handling fee be borne by the buyers, who are eager to buy a house and often accept this handling fee.
5. You can't get points for real estate type transactions
Most banks will get points after credit card transactions, and the greater the spending amount, the more points they will get. If you want to earn points by paying the down payment on the house, forget about it. If the bank's risk control department sees that your credit card record is real estate consumption, it will not count you in points.
6. Potential repayment risk of high leverage
Some people used credit cards to solve their temporary shortage of funds and successfully paid the down payment on the house. Although the down payment problem has been solved for the time being, we still have to face the problem of high repayment, not only the down payment, but also the bank commercial loan. If the property buyers don't have enough money on hand, there may be overdue in the middle. High leverage makes the property buyers bear greater repayment pressure. If they or their families need money in an emergency during the period, it will be even worse.