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Old 04-05-2011, 09:38 AM   #1
vicki845
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Can you use your Disney Visa to pay your mortgage

I was thinking of how many rewards dollars I could get if I pay my mortgage with my disney visa. We are planning a trip to wdw in august. I'm trying to get as many disney rewards dollars as possible to help pay off our trip. I would of course pay off the whole balance when the bill comes in. tia
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Old 04-05-2011, 09:47 AM   #2
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There are service out there that will use your CC to pay your mortgage but they charge you a fee. You'll have to do the math to determine if it's worth your while. Google "pay my mortgage with my credit card"
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Old 04-05-2011, 09:47 AM   #3
Marionnette
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Quote:
Originally Posted by vicki845 View Post
I was thinking of how many rewards dollars I could get if I pay my mortgage with my disney visa. We are planning a trip to wdw in august. I'm trying to get as many disney rewards dollars as possible to help pay off our trip. I would of course pay off the whole balance when the bill comes in. tia
Most mortgage companies will not allow you to pay with a credit card. It would be a very rare one that does.

Try using the card to pay for these:
  • insurances
  • car registrations
  • taxes
  • cellphones
  • utilities
  • vet bills and pet meds
  • tuitions
I've had some luck with most of those. Can't pay my electric bill without also paying a 3% surcharge but I can pay my oul bill. My sister in law pays her Catholic school tuition with a CC but my kids' colleges don't take them. My car insurance takes CCs but not my health insurance. And so on...
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Old 04-05-2011, 09:56 AM   #4
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Our leasing company recently introduced a service where we can pay our rent online with a credit card. I thought that would be a great way to accumulate some reward dollars, until I read the agreement. The surcharge is $45!!! And that fee is for EVERY PAYMENT! Obviously we are NOT using the credit card to pay rent.
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Old 04-05-2011, 10:11 AM   #5
LuvMickey36
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I have chase for my mortgage and I am able to pay with a cc with no fee. I did have to sign up on the website, but I didn't mind. I am able to track my payments/when they are due (like I don't already know that ) that sort of thing. I can set up a bill pay with them or pay by cc/check for no fee. *That I am aware of anyway, never had to use the service, but I looked it over when I signed up and pretty sure it said no fee* good luck on earning your reward points!
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Old 04-05-2011, 10:11 AM   #6
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Quote:
Originally Posted by Marionnette View Post
Most mortgage companies will not allow you to pay with a credit card. It would be a very rare one that does.

Try using the card to pay for these:
  • insurances
  • car registrations
  • taxes
  • cellphones
  • utilities
  • vet bills and pet meds
  • tuitions
I've had some luck with most of those. Can't pay my electric bill without also paying a 3% surcharge but I can pay my oul bill. My sister in law pays her Catholic school tuition with a CC but my kids' colleges don't take them. My car insurance takes CCs but not my health insurance. And so on...
We pay our daycare $200 a week!
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Old 04-05-2011, 10:16 AM   #7
marie1203
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Our mortgage company won't allow it. Just direct draft.
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Old 04-05-2011, 10:17 AM   #8
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Our mortgage company won't allow it. Just direct draft.
Neither will ours.
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Old 04-05-2011, 12:16 PM   #9
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If you are able to pay your mortgage in person with cash, one alternative is to buy $1 coins from the US Mint with a credit card and use those coins to pay the mortgage. It helps if your mortgage is small and your back is strong. I have paid a portion of my mortgage one month using this method. I do think the Mint has imposed some overall limts on how many coins you can buy per year. -- Suzanne
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Old 04-05-2011, 12:23 PM   #10
Marionnette
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Quote:
Originally Posted by LuvMickey36 View Post
I have chase for my mortgage and I am able to pay with a cc with no fee. I did have to sign up on the website, but I didn't mind. I am able to track my payments/when they are due (like I don't already know that ) that sort of thing. I can set up a bill pay with them or pay by cc/check for no fee. *That I am aware of anyway, never had to use the service, but I looked it over when I signed up and pretty sure it said no fee* good luck on earning your reward points!
I'm pretty sure that Chase is not going to let you pay a mortgage held by them with a card that is issued by them. If the card you're going to use is issued by another bank, make sure that a mortgage payment isn't treated like a cash advance. You end up paying interest on it from the day that the cash advance is made (and usually at a higher rate than a credit transaction).
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Old 04-05-2011, 12:24 PM   #11
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omgosh, why didn't I think of this before ?

I mean i use mine for "in person " purchases, but didn't even think about using it to pay water/cable/elec, etc.

I think you could even do it at the same time, pay all your bills to your cc, then log onto you cc and make a payment right away.

now you made me feel silly, lol.
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Old 04-05-2011, 12:35 PM   #12
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Generally speaking you usually can not pay a credit bill (mortgage, car payments, credit card payments) with more credit.
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Old 04-05-2011, 12:44 PM   #13
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Quote:
Originally Posted by LuvMickey36 View Post
I have chase for my mortgage and I am able to pay with a cc with no fee. I did have to sign up on the website, but I didn't mind. I am able to track my payments/when they are due (like I don't already know that ) that sort of thing. I can set up a bill pay with them or pay by cc/check for no fee. *That I am aware of anyway, never had to use the service, but I looked it over when I signed up and pretty sure it said no fee* good luck on earning your reward points!
I have a Chase mortgage, please tell me where you signed up for this.
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Old 04-05-2011, 12:48 PM   #14
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Quote:
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Generally speaking you usually can not pay a credit bill (mortgage, car payments, credit card payments) with more credit.
You can't pay for an item that has lien on it with an unsecured loan. Buying a car with a credit card, paying a mortgage, etc. Credit card are unsecured loans.

What would stop people who are about to declare BK from paying off the mortgage with a credit card, taking down the credit card and then owning the home free and clear.
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Old 04-05-2011, 01:11 PM   #15
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You can't pay for an item that has lien on it with an unsecured loan. Buying a car with a credit card, paying a mortgage, etc. Credit card are unsecured loans.

What would stop people who are about to declare BK from paying off the mortgage with a credit card, taking down the credit card and then owning the home free and clear.
You can use CC's to pay for cars, or at least a nice portion of it....depending on the Car / dealer.

I've paid as much as $3500 on my Disney Visa when I've purchased my last car. It was car that I would have only had to finance about $13K on after trade / rebates so it was roughly 25% of the purchase price.

I also got a email from AMEX last week that states....At participating dealerships, now you can use your American Express Card for any amount—even the full purchase price of the car you want to buy. And when you use an eligible, enrolled Card, you can earn rewards that can help take you farther—from points or miles toward a vacation to cash back that you can use to fill up your tank
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