Big purchases?

[yogi123]

Hi all. First time poster with very little idea on credit cards.

Im looking for some advice on what the best way to get freq flyer points for a very large spend or if its even possible.

Im building a house in the next few months which is going to cost approx. 350k.

We have the cash to pay for it but I thought I could run it through a credit card and collect points.

My idea was to move money into the CC before a payment was due and pay for it, collecting points.

Payments would be to builders, electricians and the like. 20k at a time.

My questions are:

Is it possible to do this?
Do these types of payments count for points? ( Are they a cash advance? or the like? Virgin CC people said that only retail spends and bills accrue points?????)
If it is possible, whats the best way to go about this and the best card?

As I say I have no idea on credit cards and the points associated with them. Any information is happily received.

Thanks very much

Yogi

 

[Hvr]

Firstly welcome aboard yogi123.

Secondly, will the vendors accept credit cards and if so will they have a surcharge that may negate the value of the points?

Finally you may want to have a read here Credit Cards and their Loyalty Programs so see what particular card may be of use to you.

 

[Spongbob]

Yes, welcome to AFF. Some credit cards have a cap on the number of points you can gain in any month and/or year. So try to get a card that allows you to spend the amounts you plan to spend (and in the timeframe) without limiting your points earning.

 

[NM]

Many tradies won't accept credit card payments. So you will need to shop around to find ones that will. One option will be to purchase the fittings and materials yourself. Buy note that sometimes the tradies can get better pricing than you can walking in off the street. This is for things like the light fixtures, door furniture, floor coverings, kitchen appliances, taps, vanities etc. You will need to talk to the builder about it. Some are happy for you to buy the fittings and ensure they are available on-site at the right time, but it will mean that you are taking the risk as far as warranty is concerned for those components you supply rather than the builder. Some builders like this option as it helps their cash flow somewhat. They may even put you in touch with suppliers who will sell to you at the trade discount rate if you are referred by the builder.

 

[Dr Ralph]

My questions are:

Is it possible to do this?


Yogi

I highly doubt it. And if permitted expect a surcharge (negating the points collected) and a limit on how much you could put on the card (IE. Maybe a deposit only).