Using credit cards to save money, good idea?

Answers:0   |   LastUpdateAt:2012-08-28 15:08:03  

Question
Nenny
Asked at 2012-08-28 15:08:03
Ok this is a little weird, but bear with me. I make about 50k. After all my expenses only manage to save a few hundred a week. I live in an apartment and want to buy a house in two years. I live in Florida, so the average home prices start b / t 90-120K. MedlinePlus MedlinePlus The problem. I have great credit, but does not save much for a deposit. I can not get a loan because I have no cash and I have many more than 200,000 in student loans. My monthly payments are not very high, so I have no problem paying the loans. My apartment rent is $ 1,500 a month and with houses so cheap that it would save money by paying a mortgage instead of rent. MedlinePlus MedlinePlus Since many people in my apartment complex are unemployed, the complex has begun with the exception of credit cards for rental. I have credit card debt low, but 30k available credit. MedlinePlus MedlinePlus I was thinking about changing rent for the next year or so. If I did that I could probably save about 20 000 in a year, then spend the next year paying by credit cards. MedlinePlus MedlinePlus My question ..... would be better in two years to be eligible for a mortgage? I guess I'd have about 20K more on the bench, then I would have had, and also about 10k more in debt. With the low APR on my credit card and the small% of my balance which is a minimum payment, my monthly expenses would not increase significantly. MedlinePlus MedlinePlus Idea strange, I know .... MedlinePlus MedlinePlus What do you think? MedlinePlus MedlinePlus MedlinePlus In addition, after a year of raking the credit card debt, could open another card that would balance transfers except in April promo (hopefully 0 for one year). My credit score would have a year to recover from the initial decline request another credit card. MedlinePlus MedlinePlus I'm thinking that this would only be a strange way to get a low-interest loan, but the advantage of this would be to have more control over payment methods. MedlinePlus MedlinePlus What do you think?
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