Points by paying house deposit on CC

[Buzzard]

ANZ Black is uncapped. May not be the best earn though.

 

[bigsleep55]

Not sure about Qantas. Asia Miles visa/mc you would prefer citi prestige card (1pt per dollar) but it's an expensive card to take out.

Small price to pay for the amount of points though. $700 annual fee earns 220 000 Citi Rewards Points which can convert to 146 674 Asia Miles / Krisflyer.

144 500 KrisFlyer points is a return business class flight to London which would cost about $7-9k if bought outright (revenue ticket).

$700 cost for a $7000 benefit seems worth it to me.

 

[kirstyoz]

$700 cost for a $7000 benefit seems worth it to me.

I'm happy to pay a substantial annual fee to get the best earn as you suggest since it's a one off opportunity. Is ANZ black defo the best one for the job?

Thanks again

 

[bigsleep55]

I'm happy to pay a substantial annual fee to get the best earn as you suggest since it's a one off opportunity. Is ANZ black defo the best one for the job?

Thanks again

Sorry, I wasn't referring to ANZ Black Rewards. I was referring to Citibank Prestige (formerly Citibank Select). Looks like you get a sign on bonus of 70 000 points at the moment too!

If you do get this card, chose Citibank Rewards (not Qantas Rewards).

The Citi Prestige Credit Card

 

[JessicaTam]

Giving this thread a bump ...

What are the current thoughts on using a CC for a house deposit?

I am moving and will be looking to buy in the next couple of months.

 

[straitman]

Giving this thread a bump ...

What are the current thoughts on using a CC for a house deposit?

I am moving and will be looking to buy in the next couple of months.

Didn’t LJ Hooker have some real going with Qantas points a little while back?

 

[Hvr]

Didn’t LJ Hooker have some real going with Qantas points a little while back?

If you sell your property through them.

Earn Qantas Points with LJ Hooker | Qantas Points

Although, would you really want to boast about getting points for using a hooker?

 

[JessicaTam]

If you sell your property through them.

Earn Qantas Points with LJ Hooker | Qantas Points

Although, would you really want to boast about getting points for using a hooker?

Depends what they put on the CC statement.

 

[Pointy Bird]

Giving this thread a bump ...

What are the current thoughts on using a CC for a house deposit?

I am moving and will be looking to buy in the next couple of months.

I think this is a good idea. The most important "points" are to make sure they do not charge you an inappropriate credit card fee and to indicate that you are more likely to purchase if CC facilities are available. Retailers must be encouraged to negotiate a low cc fee - or else the exercise is futile.

I have previously arranged to pay by cc when buying a car - although the sellers initially indicated this was not acceptable. They accepted when I made it clear I would otherwise not be purchasing.

Similarly, I am currently building a house. The builder had no cc facilities and never considered this previously. He is now accepting amex from me for all payments which has provided me with millions of points.

 

[JessicaTam]

I think this is a good idea. The most important "points" are to make sure they do not charge you an inappropriate credit card fee and to indicate that you are more likely to purchase if CC facilities are available. Retailers must be encouraged to negotiate a low cc fee - or else the exercise is futile.

I have previously arranged to pay by cc when buying a car - although the sellers initially indicated this was not acceptable. They accepted when I made it clear I would otherwise not be purchasing.

Similarly, I am currently building a house. The builder had no cc facilities and never considered this previously. He is now accepting amex from me for all payments which has provided me with millions of points.

Thanks @Pointy Bird, yes all of this is predicated on an agent accepting a credit card in the first place. The housing market is flat where I am looking so I am sure the CC surcharge will be negotiable.

 

[Pointy Bird]

Thanks @Pointy Bird, yes all of this is predicated on an agent accepting a credit card in the first place. The housing market is flat where I am looking so I am sure the CC surcharge will be negotiable.

why just the deposit? what about the rest?

 

[JessicaTam]

why just the deposit? what about the rest?

Well there will be a bank loan involved, and I would rather keep that part of the process straightforward.

 

[NM]

Well there will be a bank loan involved, and I would rather keep that part of the process straightforward.

Qudos Bank (formerly Qantas Credit Union) has a home loan product that earns QFF points based on monthly balance. Slightly higher interest rate than their no-frills loan product, but still competitive against other banks loans.

Doesn’t help with deposit though.

 

[Isochronous]

There's always rewardpay.

 

[JessicaTam]

There's always rewardpay.

That would be a fair size interest hit, and I have no way of claiming it.

 

[Pointy Bird]

That would be a fair size interest hit, and I have no way of claiming it.

I would not advise Rewardpay for a non tax deductible expense.
Retailers currently are being charge 2.2% by Amex, but I have had recent discussions with Amex staff who hinted that is may well fall to circa 1.6% in the next 6 months.