Buying BTC with Credit Cards (not Debit Cards)

[OldScout]

I'm seeing promos from Credit Card companies for 0% APR for 12, 15, or 18 months. My plan is to buy a miner from a turn-key company and install it at their facility and pay off the miner in approx 9 months from mining proceeds (please - no sermons on the perils of doing this; I've run the numbers and am willing to take the risk). They require payment by BTC only, which would require me to buy the BTC with the Credit Card. All the credit card companies I've talked to so far don't allow the purchase of BTC with their cards.

Question: can anyone recommend a Credit Card company that 1) is offering a 0% promo of at least 12 months and 2) permits the purchase of BTC.

Thanks in advance....

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[DaveF]

Going with the assumption that you are US based check out some cards that have 0% balance transfer options when opening the cards instead of 0% purchase options.
The big players (Citibank, BoA, Chase) will ACH $ into your bank account which you can then use to buy whatever you want.
This probably goes against their ToS but it's probably the easiest way without getting killed with high fees and them knowing what you are buying.

Once again assuming you are in the US, citibank seems to allow purchase of crypto.
I know people who have used the citi simplicity card to buy at:

https://buy.coingate.com/
https://www.coinomi.com/en/buy/simplex/
https://www.binance.com/en/buy-Bitcoin

But there are limits and there are also people who have been denied. So there is that risk that you get the card and you can't buy BTC
Does not seem to be any reason just Alice can buy, Bob cannot and Dave can buy a limited amount random generator.

-Dave

[amishmanish]

What kind of turnkey facilities are you talking about OP?

I had someone PM me on the forum about something like this back in 2018. They had this plan of crowd-funding for mining facilities by buying miners on behalf of people. They would run on their facility and they would take a service fee from the earned BTC. The rest of the BTC was supposed to be transferred back to you. The idea never materialized for the people.

The scenario has indeed changed a lot since then and it wouldn't be surprising if mining companies have such offerings. Hope you can get that 0% credit and share the experience if this indeed happens.

[BitMaxz]

Question: can anyone recommend a Credit Card company that 1) is offering a 0% promo of at least 12 months and 2) permits the purchase of BTC.

Thanks in advance....

It depends on where you live if you can give us info if where you live then maybe we can search a bit to find those banks that offer 0% promo for a year that allows you to buy BTC.

But actually here in my country, there is no such bank that allows me to use a credit card to buy BTC except for gadgets and cars.
Maybe in your country, there is a bank that would allow you to buy BTC.

[MascharonoM]

For me, I prefer to buy face to face. This is even better and secure as well.

[OldScout]

Going with the assumption that you are US based check out some cards that have 0% balance transfer options when opening the cards instead of 0% purchase options.
The big players (Citibank, BoA, Chase) will ACH $ into your bank account which you can then use to buy whatever you want.

Dave - thanks for this. Yes - I am in the U.S. Not quite sure if I follow you. It's been my understanding that "Balance Transfer" is a "Card-to-Card" transaction and is a cashless transaction. Just the transferring of debt from one card to another, and cash never enters the picture. Tell me more.

Also, I've already checked with the 3 companies you mentioned directly (Citibank, BoA, Chase; customer service over the phone), and all 3 were adamant that they don't allow the purchase of BTC with their Credit Cards. Thanks....

[DaveF]

Going with the assumption that you are US based check out some cards that have 0% balance transfer options when opening the cards instead of 0% purchase options.
The big players (Citibank, BoA, Chase) will ACH $ into your bank account which you can then use to buy whatever you want.

Dave - thanks for this. Yes - I am in the U.S. Not quite sure if I follow you. It's been my understanding that "Balance Transfer" is a "Card-to-Card" transaction and is a cashless transaction. Just the transferring of debt from one card to another, and cash never enters the picture. Tell me more.

Also, I've already checked with the 3 companies you mentioned directly (Citibank, BoA, Chase; customer service over the phone), and all 3 were adamant that they don't allow the purchase of BTC with their Credit Cards. Thanks....

Nope they just hope you borrow money, can't pay it back and then wind up paying stupid high interest rates.
From my citibank CC, here is one heavily redacted screenshot. Most of the time you can do transfers anyway you want.



As for buying BTC from the card, when you call that is their standard response to the question.
But, I know people who have done it many times with no issues. And others who have never been able to do it once.

-Dave