Using Amex for house downpayment

[nikhilk21]

Hello. I have Amex MRCC and may soon get Plat Travel. I am buying a plot and planning to make the downpayment using one or both of the cards. The payment is to a developer company and I think the payment will be categorised as rent. (Earlier, I paid a small token amount using Amazon ICICI card and it was categorised as rent and 1% service charge was levied)

My questions are

1. What would be the service charge levied by Amex in this case?
2. Will I get the points as usual and the amount counted in this milestone?

If anyone has done this before, please share

 

[Channakya]

If you want to do the payments , do it from housing.com , you will get it at very low price , at one percent .

 

[helloworld]

Hello. I have Amex MRCC and may soon get Plat Travel. I am buying a plot and planning to make the downpayment using one or both of the cards. The payment is to a developer company and I think the payment will be categorised as rent. (Earlier, I paid a small token amount using Amazon ICICI card and it was categorised as rent and 1% service charge was levied)

My questions are

1. What would be the service charge levied by Amex in this case?
2. Will I get the points as usual and the amount counted in this milestone?

If anyone has done this before, please share

- 0
- YES.. but only problem if that payment gateway accepts AMEX cards.

(above for rent categorization, not based on similar purchase experience but it works)

Real question is, who sells the plot with credit card payment and entire money in white. That is some kind of wishlist for me in real estate, most of them prefer pure cash, not even NEFT to their accounts. Here, you're dealing with credit card.

My suggestion, don't worry about reward points. That money in savings till you pay the bill earns more interest than reward points alone.

But who sells plot with credit card, if you don't mind which state it is?

 

[nikhilk21]

- 0
- YES.. but only problem if that payment gateway accepts AMEX cards.

(above for rent categorization, not based on similar purchase experience but it works)

Real question is, who sells the plot with credit card payment and entire money in white. That is some kind of wishlist for me in real estate, most of them prefer pure cash, not even NEFT to their accounts. Here, you're dealing with credit card.

My suggestion, don't worry about reward points. That money in savings till you pay the bill earns more interest than reward points alone.

But who sells plot with credit card, if you don't mind which state it is?

Thanks for the response. If there really won't be any service charge, that'd be awesome!!

The payment will be through a POS machine and yeah I have to make sure they accept Amex. But since they're like a proper commercial developer, I'm guessing they will accept.

On your point about cash - this is not reselling. I'm buying from a developer called Urbanrise and in Tamil Nadu. They're okay with any mode of payment

 

[helloworld]

Thanks for the response. If there really won't be any service charge, that'd be awesome!!

The payment will be through a POS machine and yeah I have to make sure they accept Amex. But since they're like a proper commercial developer, I'm guessing they will accept.

On your point about cash - this is not reselling. I'm buying from a developer called Urbanrise and in Tamil Nadu. They're okay with any mode of payment

are you talking about plot or flat?

didn't know urbanrise selling plots (or is it duplex house kind of thing?), good to know and good luck.

 

[nikhilk21]

are you talking about plot or flat?

didn't know urbanrise selling plots (or is it duplex house kind of thing?), good to know and good luck.

It's a plot.

 

[varun.rt]

Hello. I have Amex MRCC and may soon get Plat Travel. I am buying a plot and planning to make the downpayment using one or both of the cards. The payment is to a developer company and I think the payment will be categorised as rent. (Earlier, I paid a small token amount using Amazon ICICI card and it was categorised as rent and 1% service charge was levied)

My questions are

1. What would be the service charge levied by Amex in this case?
2. Will I get the points as usual and the amount counted in this milestone?

If anyone has done this before, please share

Hey! how are you making the payment? Is it via POS machine or an online transction?

 

[nikhilk21]

Hey! how are you making the payment? Is it via POS machine or an online transction?

It's via POS