Does a company taking payments from a Credit Card count as a purchase?

moneysavvy35

Hi Everyone

New to these forums, but regular viewer of the site.

Heres the background before I ask my question.......

I recently bought into a timeshare. Everything about it seems good!! I had to put a deposit down on my AMEX credit card, as thats the only one I had at the time. They will also use this card to continue to take monthly payments. Eventually I plan to pay off the timeshare on a credit card, then just be a Credit Card Tart until the whole things paid off. I just wanna make 2-3 payments first to make sure intially everything is set up as it should be.

Right now I'm looking to get a Credit Card that the company can take my montly payments from until I eventually pay the thing off in full, what I wanna know is will the payments they take from the (new) credit card count as purchases? Therfore not acrruing any interest on the payments that are taken from the card?

If theiers anyone out their that could answer I would be greatfull!!

Thanks in advance

P.S I need to change quickly as I'm not as money savvy as I thought, cause until I change I'll be getting charged by AMEX and the timeshare interest loan I took out!!!!

gfplux

You bought a timeshare.
Oh well you do say "you are not as money savvy as you thought"!!!!
Payments taken from your card sound like purchases, look like purchases, walk like purchases so must be purchases.
Good Luck