Reply to Can you buy a car with credit card?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Why would you even want to...sounds like a fast track into a financial spiral....the interest would be killer.[/quote]

I think most everyone here is talking about charging the large amount for the points/miles, then paying it off immediately.[/quote]

obviously. the previous poster who thought folks want to carry the balance must be nuts.[/quote]

If this was allowed, many people would do this.  Most people don't have thousands sitting around to pay off a car they bought on a credit card.  Most people do not have the money to pay off their credit card each money.[/quote]

Which is why many people finance a car.  Why would you finance on a credit card for 18% interest when you can get a loan for well under 5%?[/quote]

Exactly, you would never finance at 18% -- you would use your credit card solely to get as many points/miles as you can (whether thats 2000, 3000 or 5000 -- wouldn't be the full purchase price of the car obviously), and then you would pay that off immediately. I pay good money ($95) for my United miles credit card so I want to be able to use it as much as possible. never carried a balance in my life but have taken a free trip to the UK because of my miles/points. If I could pay my mortgage on it, I would. [/quote]

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