Do I need 20 credit cards or will one do the job.

[Mia.Colpa]

Most banks (if not all) will not allow you to use credit as a deposit on a mortgage. The same way you can't pay off a credit card by using another credit card. (there are ways around that for people who use cash advances or debt transfer promos on new cards, but for example, if you have a store credit card, you can't make a payment at that store using your visa).

I didn't say use a credit cad as a deposit on a mortgage, I said they use their credit facility attached to the credit card and write a cheque as a downpayment on the property, not the mortgage.

I get all these mailings to get a new card and they say to transfer any balances from my other cards over and pay the reduced rate, so that is paying off a credit card by using another credit card.