Comments on: How Can I Pay My Mortgage With A Credit Card?

By: Spain mortgages

Spain mortgages — Sun, 10 Jan 2010 03:04:29 +0000

Call up your mortgage company’s automated line. There’s always an option for making payments over the phone, and I bet they take credit cards. They may charge a fee though.

By: Kerrie M

Kerrie M — Sat, 09 Jan 2010 22:36:53 +0000

I belive all you have to do is talk with your bank and ask them to sign up for online banking my mom did and she has been doing her morgage payment online for years so ya try that.

By: Marc X

Marc X — Sat, 09 Jan 2010 16:43:03 +0000

It’s not a matter of the credit card issuer allowing it, but whether your mortgage company would accept it. A business that takes credit card payments typically pays around 1.7% – 2.5% to a company which processes the transactions. If your mortgage payment is $1,000 a month, the mortgage company is going to pay something like $20 just for your credit card payment alone and they would pass that expense on to you. (Effectively negating and even making your rewards program more costly to you. Why would you pay an extra $20 just to get an additional $2 in rewards?)
Most people don’t want the added expense and so most mortgage companies don’t accept it. Mine does take credit cards, but again, I can’t see paying the added expense.
As long as we’re on the subject, this is also the reason why stores don’t accept credit cards for lottery purchases. Nothing illegal or prohibited about it. Just that a merchant paying 2% for taking a credit card, and only getting 1% from the state for lottery sales means that the merchant loses money.

By: Barkley Hound

Barkley Hound — Sat, 09 Jan 2010 13:15:29 +0000

No mortgage company is going to take a credit card. They would have to pay too much in fees. Most credit cards will give you free cash advance checks that you can write as a regular check with a big cash advance fee.
*

By: steve0st

steve0st — Sat, 09 Jan 2010 07:31:10 +0000

That all depends on both you credit card and you morgage company. Some morgage comapnies will not let you put the monthly payment on a credit card so you first need to call them. Once you have done that you will need to speak with you credit card company some will only allow you to do this if you contact them first.

By: David J

David J — Sat, 09 Jan 2010 04:55:34 +0000

STOP!!!!!!
Make SURE that the 0% interest rate includes NEW PURCHASES or CASH WITHDRAWALS!!! If it doesn’t, then you’ll be in for a huge surprise.
Most 0% interest offers relate to balance transfers ONLY.

By: StephenW

StephenW — Fri, 08 Jan 2010 22:52:26 +0000

Rewards are usually only applicable to purchases. A mortgage payment might be considered a balance transfer or a cash advance. Check whether the 0% is for balance transfers, cash advances, or purchases. It may not be for all three, and it may not apply to mortgage payments.

By: §?p¡£n†

§?p¡£n† — Fri, 08 Jan 2010 22:18:08 +0000

Of course you can, as long as it doesn’t exceed your limit.

By: julvrug

julvrug — Fri, 08 Jan 2010 18:17:56 +0000

double check to see if that 0% is on cash withdrawals, if not think of a better way to make your payment. most mortage companies will not accept payment directly from a credit card.

By: Wordpress Autoblogging Plugin

Wordpress Autoblogging Plugin — Fri, 08 Jan 2010 12:16:51 +0000

My mortgage company wont let me pay my monthly payment with a credit card. Thats weird. I would love to pay it with my visa debit card so I could earn rewards with out the interest. But I cant.

By: DJG INC

DJG INC — Fri, 08 Jan 2010 06:56:31 +0000

Why would you? The interest on the card is probally 3x that of your mortgage. Be careful.

By: kissyber

kissyber — Fri, 08 Jan 2010 03:38:42 +0000

if you pay online or automated you can pay with a credit or debit.