Could you buy a house with a credit card?

Let's just say you won the mega millions and that you had a ridiculously high credit limit on your cards, or even an Amex black card that had no limit.

Could you buy a house with a credit card? I realize that there are a lot of hoops that you have to go through to buy a house, but at every turn could you just whip out the Amex Black?

Obviously it would be a dumb move as the APR would be much higher than taking out the traditional loan, but theoretically could you be like "I want this house" and slap down your credit card like a bawse?

Credit Card???

I slapped down my Debit Card and bought that shit!

Probably. Might be considered a "cash buyer" in that case.

For example, the AmEx Black Card requires something stupid like $500k annual spending or something, so a lot of rich people will buy cars with them. I guess it's possible.

KidPittsburgh - Probably. Might be considered a "cash buyer" in that case.

For example, the AmEx Black Card requires something stupid like $500k annual spending or something, so a lot of rich people will buy cars with them. I guess it's possible.

Yeah that's why I was wondering as I would imagine the Amex Black gets used to buy high value purchases all the time, upwards of several hundred thousand dollars in some cases.

So if that is legit, what is stopping you from buying a house?


Follow up question:

Could you get a "Zero interest" mortgage by putting the house on the card and then paying it off before the 30 days is up? Yes I know the question will be "Why not just buy it with cash then". I don't know, maybe I like to rack up AMex points or something LOL :)

If I had the cash, I'd try this. Just think of the cc points earned!

Nitecrawler - 
KidPittsburgh - Probably. Might be considered a "cash buyer" in that case.

For example, the AmEx Black Card requires something stupid like $500k annual spending or something, so a lot of rich people will buy cars with them. I guess it's possible.

Yeah that's why I was wondering as I would imagine the Amex Black gets used to buy high value purchases all the time, upwards of several hundred thousand dollars in some cases.

So if that is legit, what is stopping you from buying a house?


Follow up question:

Could you get a "Zero interest" mortgage by putting the house on the card and then paying it off before the 30 days is up? Yes I know the question will be "Why not just buy it with cash then". I don't know, maybe I like to rack up AMex points or something LOL :)

You can't get a mortgage with a credit card. They're considered unsecurtized (so if you filed Ch.13 Bankruptsy, that debt disappears and the bank would lose out on the loan) which is why mortgages don't disappear when people file BK.

The seller would have to eat a 3-4% fee.... Phone Post 3.0

In Detroit you could buy a house with the loose change in your car seats Phone Post 3.0

The closing agent would require that there be federally-cleared funds in their account to close. Generally speaking, where those legal funds come from is up to you. Phone Post 3.0