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Getbig Main Boards => Gossip & Opinions => Topic started by: Slapper on October 04, 2016, 07:35:53 PM

Title: Collecting points by paying mortgage with credit card
Post by: Slapper on October 04, 2016, 07:35:53 PM

Are any of you actively doing this? If so, how?

Title: Re: Collecting points by paying mortgage with credit card
Post by: Iceman1981 on October 04, 2016, 08:26:15 PM

I do this all the time. My credit card company offers me low interest rates (0.00 to 0.99 %) for a year on balance transfers. I transfer the funds then write a cheque and pay my mortgage. In the meantime, I'm not paying any interest on the credit card while I put down a good chunk of money on the mortgage. Make sure you can afford to pay off the credit card when the time comes.

Here is a thread speaking about this: http://www.delphifaq.com/faq/personal_finances/f1093.shtml

Title: Re: Collecting points by paying mortgage with credit card
Post by: NaturalWonder83 on October 05, 2016, 06:02:50 AM

Quote from: Iceman1981 on October 04, 2016, 08:26:15 PM

I do this all the time. My credit card company offers me low interest rates (0.00 to 0.99 %) for a year on balance transfers. I transfer the funds then write a cheque and pay my mortgage. In the meantime, I'm not paying any interest on the credit card while I put down a good chunk of money on the mortgage. Make sure you can afford to pay off the credit card when the time comes.

Here is a thread speaking about this: http://www.delphifaq.com/faq/personal_finances/f1093.shtml

How do u pay your mortgage with cc? I tried one time and they didn't allow me-they told me I couldn't pay a debt by creating debt?

Title: Re: Collecting points by paying mortgage with credit card
Post by: Grape Ape on October 05, 2016, 06:04:04 AM

There are  third party companies that facilitate this.   You just have to weigh if the fee they charge is worth the points.

But, he just said he transfers the $ and cuts a check.

Title: Re: Collecting points by paying mortgage with credit card
Post by: loco on October 05, 2016, 06:21:53 AM

In the USA, I don't believe you are allowed to pay monthly mortgage payments with a credit card, or even buy a new or used vehicle from a dealer with a credit card.  It is known.

Title: Re: Collecting points by paying mortgage with credit card
Post by: Simple Simon on October 05, 2016, 07:55:03 AM

Quote from: NaturalWonder83 on October 05, 2016, 06:02:50 AM

How do u pay your mortgage with cc? I tried one time and they didn't allow me-they told me I couldn't pay a debt by creating debt?

isnt it odd its called a credit card when all it does is create a debt.

Title: Re: Collecting points by paying mortgage with credit card
Post by: Iceman1981 on October 05, 2016, 08:28:41 AM

Quote from: NaturalWonder83 on October 05, 2016, 06:02:50 AM

How do u pay your mortgage with cc? I tried one time and they didn't allow me-they told me I couldn't pay a debt by creating debt?

Read this: http://www.delphifaq.com/faq/personal_finances/f1093.shtml

Google it and you will find more info.