Can you use your Disney Visa to pay your mortgage

Discussion in 'Budget Board' started by vicki845, Apr 5, 2011.

  1. vicki845

    vicki845 DIS Veteran

    Joined:
    Feb 20, 2007
    Messages:
    523
    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
     
  2. Avatar

    Google AdSense Guest Advertisement


    to hide this advert.
  3. leadfootlevi

    leadfootlevi DIS Veteran

    Joined:
    Oct 7, 2010
    Messages:
    606
    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"
     
  4. Marionnette

    Marionnette <font color=deeppink>Wishing On A Star<br><font co

    Joined:
    Sep 26, 2009
    Messages:
    7,725
    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...
     
  5. jackskellingtonsgirl

    jackskellingtonsgirl <marquee><font color=deeppink>Jello Shot Chick</ma

    Joined:
    Nov 14, 2004
    Messages:
    25,814
    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!!! :scared1: And that fee is for EVERY PAYMENT! Obviously we are NOT using the credit card to pay rent.
     
  6. LuvMickey36

    LuvMickey36 Mouseketeer

    Joined:
    Jan 25, 2007
    Messages:
    408
    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 :rotfl2:) 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!
     
  7. toomanycars

    toomanycars <a href="http://www.wdwinfo.com/dis-sponsor/" targ

    Joined:
    Mar 14, 2008
    Messages:
    652
    We pay our daycare $200 a week!
     
  8. marie1203

    marie1203 DIS Veteran

    Joined:
    Jun 16, 2009
    Messages:
    1,852
    Our mortgage company won't allow it. Just direct draft.
     
  9. Gr8t Fan

    Gr8t Fan DIS Veteran

    Joined:
    Jul 7, 2009
    Messages:
    1,529
    Neither will ours.
     
  10. SuzanneSLO

    SuzanneSLO DIS Veteran

    Joined:
    Sep 10, 1999
    Messages:
    3,295
    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
     
  11. Marionnette

    Marionnette <font color=deeppink>Wishing On A Star<br><font co

    Joined:
    Sep 26, 2009
    Messages:
    7,725
    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).
     
  12. Shanna-like-Banana

    Shanna-like-Banana DIS Veteran

    Joined:
    May 21, 2009
    Messages:
    1,241
    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.
     
  13. ancestry

    ancestry Trees Without Roots Fall Over

    Joined:
    Jan 27, 2009
    Messages:
    5,005
    Generally speaking you usually can not pay a credit bill (mortgage, car payments, credit card payments) with more credit.
     
  14. csmommy

    csmommy <font color=purple>DIS Veteran<br><font color=red>

    Joined:
    Jan 17, 2003
    Messages:
    1,798
    I have a Chase mortgage, please tell me where you signed up for this. :lovestruc
     
  15. princessnoelly

    princessnoelly Mouseketeer

    Joined:
    Jan 14, 2011
    Messages:
    240
    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.
     
  16. ICF

    ICF DIS Veteran

    Joined:
    Jan 2, 2004
    Messages:
    4,268
    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
     
  17. Ava

    Ava DIS Veteran

    Joined:
    Mar 13, 2006
    Messages:
    2,439
    I pay my cable & cell phone bills using my Disney Visa. My electric & gas companies both charge a fee to pay with a CC, which makes it not worth it. Other monthly bills don't allow CC payments.
     
  18. Sinderelly

    Sinderelly Princess

    Joined:
    Jan 27, 2009
    Messages:
    1,326
    We pay everything except mortgage and electric with our Disney Visa. We currently have 880 pints saved up for our October trip.:goodvibes I have bought a car on the card in the past but paid off the balance right away.
     
  19. princessnoelly

    princessnoelly Mouseketeer

    Joined:
    Jan 14, 2011
    Messages:
    240
    At the dealership I work at we have a cap of $1,500 due to the fact that it is an unsecured amount and in our state a lien must be issued. The $1,500 is also part of our flooring agreement with the bank that holds our dealership floor plan. If you pay for say 1/2 the vehicle on a credit card and 1/2 the vehicle with a finance company then you have two liens on the car.
    However, each dealership is different- as is each mortgage company.

    I have had people try to pay for a car that could NOT qualify for a loan on several different credit cards. I've also had people try to cover their down payment on several different cards and have them be denied. It's sad when you have someone trying to come up with $300 down and have to split it over 6 credit cards and a hold check for 15 days. :confused3 However, they have nicer shoes, purses and the most recent iPhone. What is wrong with society!
     
  20. rumrunnergirl

    rumrunnergirl DIS Veteran

    Joined:
    Apr 11, 2005
    Messages:
    1,108
  21. vicki845

    vicki845 DIS Veteran

    Joined:
    Feb 20, 2007
    Messages:
    523
    I use my disney visa for everything except paying bills. You guys gave me some great ideas! I am going to start paying my utilities with my cc too. So far we have 739 dd. Wooho :yay:
     

Share This Page