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BWillie
09-06-2016, 12:03 PM
Is there anyway to pay for your mortgage with your credit card? I know it would have to be a third party service, and the fees would need to be below the rewards for your credit card to make sense.

I have the money, that isn't the problem, but it would be nice to get all of the rewards my credit card offers. These rewards being offered nowadays is pretty crazy, especially alot of cards that have yearly fee and offer ridiculous sign up bonuses.

I have a 2% cash back credit card...and actually looking to get some of the other cards that offer more of a % but just in the form of airline miles, travel rewards etc.

I was on an Indian reservation last week & charged $15,000 worth of poker tournament entrys on behalf of other players, as the native american casinos somehow can get around this issue. They paid me the entry fee in cash, I charged their tournament ticket. Easy way to make $300.

When I was a poor college student, I used to pay 15 credit hours of community college summer classes on my card, and then drop them after a week because I knew they would send a check & not a credit to my credit card bill.

I'm all about trying to get a free lunch.

The Franchise
09-06-2016, 12:05 PM
I'm with Wells Fargo and they won't let me pay it with anything but my checking account.

Lzen
09-06-2016, 12:06 PM
I don't think mortgage companies allow you to pay with a credit card.

Discuss Thrower
09-06-2016, 12:07 PM
Chase Sapphire preferred is the best rewards card that's accessible. There's a Barclay card that's up there but hard to get.

Beyond that, look for AmEx Blue Cash for everyday spending or the Citi Double Cash card.

If you have an airline of choice, look for credit cards that offer miles for spending like the Southwest Rapid Rewards card.

loochy
09-06-2016, 12:08 PM
lol, there's no way they would allow that.


Back in the day I was able to pay apartment rent with a cc. However, they finally wised up and started charging a 5% fee for it so I quit.

Rain Man
09-06-2016, 12:09 PM
My office landlord put in a new system last year that suddenly allowed us to pay our rent via credit card, and we jumped on that like it was barbecue. It took them about two months to stop it, and I couldn't believe that they didn't figure it out ahead of time.

I'm not sure of a way to pay a mortgage via credit card. I tried to do it myself back in the day and couldn't find a way.

Bewbies
09-06-2016, 12:10 PM
There's a way to do it, but it's like 5 steps. Involves using cc to buy gift cards, putting those in your PayPal account and using some 3rd party service to pay rent/mortgage via PayPal.

Not worth the effort.

BryanBusby
09-06-2016, 12:17 PM
I used Plastiq to make my payment when I was trying to spend 4k in 3 months for 55k free air miles.

Worked pretty well.

mikeyis4dcats.
09-06-2016, 12:21 PM
in a round about way, you can buy Visa GCs, use them to fund money orders, and pay via money order, but it's a long path and a lot of work, and many places won't allow you to use them to fund GCs. Manufactured spend is getting harder and harder.

Demonpenz
09-06-2016, 12:24 PM
Even if you could you would probably risk a payment not being posted or something silly and being on the phone with the cc company for hours on end getting it straightened out.

scho63
09-06-2016, 12:27 PM
Is there anyway to pay for your mortgage with your credit card? I know it would have to be a third party service, and the fees would need to be below the rewards for your credit card to make sense.

I have the money, that isn't the problem, but it would be nice to get all of the rewards my credit card offers. These rewards being offered nowadays is pretty crazy, especially alot of cards that have yearly fee and offer ridiculous sign up bonuses.

I have a 2% cash back credit card...and actually looking to get some of the other cards that offer more of a % but just in the form of airline miles, travel rewards etc.

I was on an Indian reservation last week & charged $15,000 worth of poker tournament entrys on behalf of other players, as the native american casinos somehow can get around this issue. They paid me the entry fee in cash, I charged their tournament ticket. Easy way to make $300.

When I was a poor college student, I used to pay 15 credit hours of community college summer classes on my card, and then drop them after a week because I knew they would send a check & not a credit to my credit card bill.

I'm all about trying to get a free lunch.

NO CREDIT CARDS for a variety of reasons.
-They would get stuck paying a fee EVERYTIME you pay them.
-Banks don't want to pass out rewards on their cards for paying debts
-Banks charge a fee for a "cash advance" as that is essentially what you are doing.

Stop thinking of ways to scam or hustle.....:shake:

Pawnmower
09-06-2016, 12:27 PM
Some CC companies will issue checks. I haven't tried paying mortgage with it but maybe worth a look

Bowser
09-06-2016, 12:28 PM
Can't imagine paying 18-24% on a mortgage payment in full would be a real fun way of doing business.

Jewish Rabbi
09-06-2016, 01:00 PM
In short, no, there isn't a way that is worth the effort and offsets the fees. Even going the gift card route you're paying essentially a 1% fee to get those cards, and it's getting harder to unload these. Not worth the risk and effort for a 1% gain.

BWillie
09-06-2016, 01:04 PM
In short, no, there isn't a way that is worth the effort and offsets the fees. Even going the gift card route you're paying essentially a 1% fee to get those cards, and it's getting harder to unload these. Not worth the risk and effort for a 1% gain.

Where is the service that can do it for 1%? I'd be all about that. I only have a 2% Double Cash right now. I pay way more to my mortgage a month so I can get it out of the way, so if I could use the card to pay the service, and they in turn pay my credit card and I still came 1% a head, that would be almost $500 a year free money.

BWillie
09-06-2016, 01:08 PM
I used Plastiq to make my payment when I was trying to spend 4k in 3 months for 55k free air miles.

Worked pretty well.

This looks promising. It says 1% - 2.5% fee. Anything much above a 1% fee and it starts to not make that much sense. Who dictates the fee? What is the fee based on?

BWillie
09-06-2016, 01:10 PM
NO CREDIT CARDS for a variety of reasons.
-They would get stuck paying a fee EVERYTIME you pay them.
-Banks don't want to pass out rewards on their cards for paying debts
-Banks charge a fee for a "cash advance" as that is essentially what you are doing.

Stop thinking of ways to scam or hustle.....:shake:

https://cdn.meme.am/instances/24328381.jpg

ThaVirus
09-06-2016, 01:16 PM
lol, there's no way they would allow that.


Back in the day I was able to pay apartment rent with a cc. However, they finally wised up and started charging a 5% fee for it so I quit.


I was able to pay my rent on my old apartment but it ended up being something like a $13 fee and the rewards I'd accrue only amounted to something like $16 or $18.

I did put all of my utilities and other bills on my card, though. If you're going to pay it you may as well make some money off of it if you can.

Pointer19
09-06-2016, 01:24 PM
I've been curious about CC Rewards. I've been using a Capital One 2% and a Discover 1-5% card for nearly all purchases over the last year and must've accrued over $100 in cashback. Since I only purchase what I can afford, I never pay interest: $100 for free.

I haven't thought of a good way to do the math, but is an airline miles card a better deal than cashback if I fly back and forth from school to home a few times a year?

DaFace
09-06-2016, 01:35 PM
Unless your mortgage company is insane, the answer is no (aside from the crazy hoops you could go through as others have described). Big, ongoing payments like that would cost your mortgage company a ton of money over time.

DaFace
09-06-2016, 01:38 PM
I've been curious about CC Rewards. I've been using a Capital One 2% and a Discover 1-5% card for nearly all purchases over the last year and must've accrued over $100 in cashback. Since I only purchase what I can afford, I never pay interest: $100 for free.

I haven't thought of a good way to do the math, but is an airline miles card a better deal than cashback if I fly back and forth from school to home a few times a year?

It really just depends on your own priorities. If you are already pretty loyal to a particular airline, you can combine your rewards points with their existing frequent flyer program and come out on top. However, if you like to price shop airlines every time and don't travel enough to build up any miles aside from the credit card, you may be better off with a cash back card.

Of course, there are also other options in the middle ground that aren't airline specific but still get you your best value in the form of travel credit. That's largely what I do.

This is a pretty good resource to look over options:
https://www.nerdwallet.com/credit-cards

Oh, and if you're comparing an airline's credit card to cash value, just google it. You'll find people who have done the math to give you a general idea of what the cash equivalent would be.

BryanBusby
09-06-2016, 02:20 PM
This looks promising. It says 1% - 2.5% fee. Anything much above a 1% fee and it starts to not make that much sense. Who dictates the fee? What is the fee based on?
I'm not sure. I paid 2.5%, but the 30'ish fee was worth it seeing that it helped unlock 650 in reward points.

For basic cash back? Not going to be worth it, probably. Sometimes cards have very nice holiday promos so keep that in mind come November.

SAUTO
09-06-2016, 05:48 PM
Chase Sapphire preferred is the best rewards card that's accessible. There's a Barclay card that's up there but hard to get.

Beyond that, look for AmEx Blue Cash for everyday spending or the Citi Double Cash card.

If you have an airline of choice, look for credit cards that offer miles for spending like the Southwest Rapid Rewards card.
Doesn't the chase sapphire have like a 450 dollar annual fee?

Discuss Thrower
09-06-2016, 06:20 PM
Doesn't the chase sapphire have like a 450 dollar annual fee?

$95.

mikeyis4dcats.
09-06-2016, 08:12 PM
Doesn't the chase sapphire have like a 450 dollar annual fee?

The Reserve is 450, but if you get it now you get 150 in travel credited this year and next, plus reimbursement for Precheck.

DaFace
09-06-2016, 08:16 PM
Doesn't the chase sapphire have like a 450 dollar annual fee?

The Sapphire Reserve does, but even then it's really only a $150 annual fee if you travel since it comes with a $300 per year travel credit, not to mention that the sign-up bonus is worth around $1500.

It sounds like a lot, but if you travel a lot, it has a lot of benefits and isn't near as insane as it sounds.

https://creditcards.chase.com/a1/sapphire/reserve

Rain Man
09-06-2016, 08:32 PM
The Sapphire Reserve does, but even then it's really only a $150 annual fee if you travel since it comes with a $300 per year travel credit, not to mention that the sign-up bonus is worth around $1500.

It sounds like a lot, but if you travel a lot, it has a lot of benefits and isn't near as insane as it sounds.

https://creditcards.chase.com/a1/sapphire/reserve

Our coworker has just about talked me into signing up for this one. It might actually be a good deal.

SAUTO
09-06-2016, 08:40 PM
And if you have gotten a certain number of cards lately They don't approve you lol

KChiefs1
09-06-2016, 08:41 PM
Pay your mortgage with a credit card? LMAO


Sent from my iPhone using Tapatalk

Discuss Thrower
09-06-2016, 09:11 PM
And if you have gotten a certain number of cards lately They don't approve you lol

Yup. I made a mistake applying for the BarclayCard World Plus or whatever. Recipient of a nice 30 point knock on my credit score and didn't get the card.

DaFace
09-06-2016, 09:35 PM
Our coworker has just about talked me into signing up for this one. It might actually be a good deal.

Yeah, if you fly a lot, it can pay off in a hurry. I'm more of a "2% on everything and not think about it" kind of guy myself, but it's definitely worth it if you want to figure out how to make it work for you.

Jewish Rabbi
09-06-2016, 09:43 PM
The Sapphire Reserve does, but even then it's really only a $150 annual fee if you travel since it comes with a $300 per year travel credit, not to mention that the sign-up bonus is worth around $1500.

It sounds like a lot, but if you travel a lot, it has a lot of benefits and isn't near as insane as it sounds.

https://creditcards.chase.com/a1/sapphire/reserve

So pissed I'm over 5/24. I'm actually at like 10/6 lol.

Jewish Rabbi
09-06-2016, 09:44 PM
Where is the service that can do it for 1%? I'd be all about that. I only have a 2% Double Cash right now. I pay way more to my mortgage a month so I can get it out of the way, so if I could use the card to pay the service, and they in turn pay my credit card and I still came 1% a head, that would be almost $500 a year free money.

Buy variable load $500 gift cards for a $4.95 purchase fee. You then need to liquidate these, typically by purchasing money orders from the grocery store and deposit these to your bank.

To each their own, but the time invested in this doesn't make the juice worth the squeeze for me.

DaFace
09-06-2016, 09:52 PM
So pissed I'm over 5/24. I'm actually at like 10/6 lol.

Huh?

CaliforniaChief
09-06-2016, 09:52 PM
I don't know of anyone who is wealthy and credits it to credit card rewards.

Paying debt with debt (even if paid in full) doesn't make sense to me. :shrug:

Discuss Thrower
09-06-2016, 09:59 PM
I've used my Discover almost exclusively for daily transactions since I never carry cash and I've racked up $14 in interest charges because I didn't pay the balance off in time one month over the last year.

In that time, I got $230 in rewards that were doubled.

Rain Man
09-06-2016, 10:01 PM
I don't know of anyone who is wealthy and credits it to credit card rewards.

Paying debt with debt (even if paid in full) doesn't make sense to me. :shrug:

You're not going to get rich off of it, but it's a really nice return on your time and effort. You're essentially getting a payment in return for putting off paying your bills for 20 days. I've used those payments to cover a lot of vacation airfares over the years.

DaFace
09-06-2016, 10:08 PM
You're not going to get rich off of it, but it's a really nice return on your time and effort. You're essentially getting a payment in return for putting off paying your bills for 20 days. I've used those payments to cover a lot of vacation airfares over the years.

Yeah, to some extent credit card rewards are a free-ish form of saving for vacations. I just flew the wife and I to San Antonio to see her best friend who recently moved down there and didn't pay a penny for the flight, and I've got enough rewards still sitting in my account to do it again if I wanted to.

Could I save for that stuff anyway? Of course (and I do for bigger trips). But it's sure nice to be able to just do that stuff with no impact on any month's usual cash flow.

Jewish Rabbi
09-06-2016, 10:13 PM
Huh?

Chase will only approve you for their cards if you have less than 5 new accounts in 24 months (5/24 rule) to kill off churners.

DaFace
09-06-2016, 10:31 PM
Chase will only approve you for their cards if you have less than 5 new accounts in 24 months (5/24 rule) to kill off churners.

Ah, gotcha. I've never been into that and had no idea.

cosmo20002
09-06-2016, 11:48 PM
I recall the US Mint had a deal a few years ago...they were trying to encourage use of and get more of the $1 Presidential coins into circulation. So you could order $100, $500, or whatever, on your credit card, free shipping. People ordered 1000s and 1000s of dollars worth...then instead of spending them as was the goal of the program, they just took them straight to the bank to cash them in.

loochy
09-07-2016, 04:56 AM
I don't know of anyone who is wealthy and credits it to credit card rewards.

Paying debt with debt (even if paid in full) doesn't make sense to me. :shrug:

It's free money for doing pretty much nothing. The CC companies hope that you are undisciplined or dumb (and many people are). It's very easy to take advantage of the rewards. You wont get rich, but like rain man said, you essentially get paid to delay your bills for 20 days.

That's why it makes sense.

Infidel Goat
09-07-2016, 07:32 AM
Yeah, if you fly a lot, it can pay off in a hurry. I'm more of a "2% on everything and not think about it" kind of guy myself, but it's definitely worth it if you want to figure out how to make it work for you.


American Express Blue Card Preferred:
- 6% at the Grocery Store (a little over 4% after I pay the card fee)

Costco Citi Visa:
- 4% on gasoline
- 3% on travel and restaurants
- 2% at Coscto

Amazon Chase Visa:
- 3% on Amazon
- 2% at Drug Stores

Cash is for suckers. I think I've missed one payment in 25+ years.

mikeyis4dcats.
09-07-2016, 07:54 AM
Yup. I made a mistake applying for the BarclayCard World Plus or whatever. Recipient of a nice 30 point knock on my credit score and didn't get the card.

you have to have opened 5 major credit cards in the last 24 months to be denied for the 5/24 rule.

Iczer
09-07-2016, 09:01 AM
I just recently started doing this. I got a Capital One Venture card, 2 miles per $1 spent. If you spend $3,000 in the first 3 months you get 40k miles.

Why not make some cash back on my daily transactions to pay for a vacation?

Discuss Thrower
09-07-2016, 09:02 AM
you have to have opened 5 major credit cards in the last 24 months to be denied for the 5/24 rule.

I get that.

Barclays said "No dice" largely because I didn't have any accounts with them.

mikeyis4dcats.
09-07-2016, 10:55 AM
I get that.

Barclays said "No dice" largely because I didn't have any accounts with them.

oh, you got rejected by Barclays, not Chase. What is your credit score?

Discuss Thrower
09-07-2016, 11:04 AM
oh, you got rejected by Barclays, not Chase. What is your credit score?

Hovering around 740. I've only had a proper credit card since June of last year and that was another prohibitive factor in not getting the World Arrival card even though Experian had me at 769 at that point.

mikeyis4dcats.
09-07-2016, 11:24 AM
Hovering around 740. I've only had a proper credit card since June of last year and that was another prohibitive factor in not getting the World Arrival card even though Experian had me at 769 at that point.
ah, so it's lack of credit history that is hurting you.

I didn't think Barclays was so picky.

Try for a Capitol One card, they are loose. Put everything you can on it for a while (and pay it off every month) and build up credit history.

Don't close your other card.

Discuss Thrower
09-07-2016, 11:43 AM
ah, so it's lack of credit history that is hurting you.

I didn't think Barclays was so picky.

Try for a Capitol One card, they are loose. Put everything you can on it for a while (and pay it off every month) and build up credit history.

Don't close your other card.

Over the last two months I've gone from getting spammed for pre-approved offers for the basic Capital One card to AmEx Gold, Citi Double Cash and Chase Freedom / Slate. In the interim, Commerce has been blowing me up with pre-approved cards with them as well since I've had a checking account with them for 10+ years.

Jewish Rabbi
09-07-2016, 11:59 AM
Over the last two months I've gone from getting spammed for pre-approved offers for the basic Capital One card to AmEx Gold, Citi Double Cash and Chase Freedom / Slate. In the interim, Commerce has been blowing me up with pre-approved cards with them as well since I've had a checking account with them for 10+ years.

Commerce isn't going to give you anything worth a hard pull. Don't waste your time on those.

Jewish Rabbi
09-07-2016, 12:07 PM
You're not going to get rich off of it, but it's a really nice return on your time and effort. You're essentially getting a payment in return for putting off paying your bills for 20 days. I've used those payments to cover a lot of vacation airfares over the years.

You could get rich off it, depending how much time you have to spend. I look at manufactured spend and credit card rewards as a hobby and have cleared just under $5000 in cash back so far this year, but there are people who are more dedicated than I who clear 6 figures easily every year.