Using a Credit Card to pay mortgage to get points?

[wedge421]

I only have one credit card and I pay it off every month. Its a Chase Amazon card that really I only use to get the points. Im trying to find out if is worth using that card to pay my mortgage and then just pay the CC bill and get the points? Does anyone else pay bills with their CC to get the points? Any help would be appreciated

[kork13]

I use my 2% cash back credit card for pretty much any purchase I can. However, not everywhere will let you use a credit card without also charging you a processing fee (normally 3-4%). Also, particularly with the mortgage, some banks won't even allow you to pay a mortgage by credit card.

That said, if you are able to pay your mortgage by credit card without the extra fee, I would say you should absolutely do it. It's basically free points on your card.

[disneysteve]

I agree with kork. If you can charge your mortgage payments with no fee, go for it. I wish I could do that but it isn't an option.

I do pay many other bills by credit card: land line and cell phones, internet, alarm company, cable TV, auto insurance, etc.

[MonkeyMama]

I totally would if I could!

[dawnwes]

I have only heard of one cc company that USED to allow that.....I believe it was Chase.....but that stopped long ago.

If you find one that allows it with no penalty or fees, please let us know!

Dawn

[disneysteve]

If you find one that allows it with no penalty or fees, please let us know!

Of course, it would only help you if you were going to refi to that company which probably wouldn't be worth the trouble.

[dawnwes]

Right, but if there were such a company, I would still like to know who it is.

Dawn

Of course, it would only help you if you were going to refi to that company which probably wouldn't be worth the trouble.

[esb3357]

I have a rule. If there is no processing fee it GOES on the credit card and is paid off in FULL every month.

[wedge421]

ok so..

I checked into it further and I am not able to use a CC to pay the mortgage. Bank accounts only according to everything im reading at the website of my mortgage company. Oh well at least now I know to cover other bills with it!

[naomibatac]

Using a credit card to pay mortgage to get points?

Yes, at least now we know that credit cards can't pay mortgage. But, you can still use it for other purchases to get the points.

[Slug]

Wells Fargo used to have a 1% cashback card that they would let you use on a Well mortgage I think, but it's long gone. Be careful trying this. I tried with US Bank who holds my mortgage and has a 1% card, and failed miserably.

Paying a US Bank Mortgage by Credit Card (FAIL) | Sunk Costs Are Irrelevant