Pay Your Mortgage with the Disney Visa??

[mm6mm6]

I was talking with a fried at work about how the Disney Visa card pays you back 1% of your purchases. We are putting our trip on the card and that $2187 will get us the minimum $20 back. He said that he used to go to a currency exchange and pay for a cashiers check or money order with his Visa in the amount of his mortgage. It only cost him $1 he said. Then when he got the Visa bill, he would pay it by check as if it was the regular mortgage. Now I'm thinking that if this works, I can pay three bills at $1500 each at a cost of $3 before we go to WDW in August and that will net me another $45 on top of the $20 for a total of $65 Disney dollars. Hmmmmmmm! Anyone else ever hear of doing this? If it works, I'll be sorry I didn't do it sooner to save up more money. I know the post office will not issue a money order unless it is paid for in cash....

 

[DisneyCrazy123]

I would double check if Visa treats this as a cash advance and you would have to pay interest from the day the advance is made.

 

[Poohnatic]

I don't know about doing that (I purposely only have a debit Visa), but I do know a friend charged her daughter's orthodontia on the Disney Visa. She was going to pay it off, anyway, why not earn the 1% on it?

Suzanne

 

[dansyr]

I pay all my bills that accept credit cards with the Visa, Then I just pay the Visa off online. It will take the money right out of your checking account.

 

[tinaluis]

Most credit cards would treat the purchase of a money order as a cash advance. I found this out the hard way when I used Western Union's BidPay to pay for an eBay auction. I called to complain about the charge when I saw how much they charged in cash advance fees and told them I'd never taken a cash advance. They said sending a MO through BidPay was considered a cash advance. Never again for me! Be sure to check with your CC company before you do something like this - especially for a purchase/advance as large as a mortgage payment.

 

[mickey4ver]

Seems like an awful lot of trouble to earn a few extra $$ on a rewards program, plus it also sounds a little risky if it is considered a cash advance. You could take that $1 each month that paid for the money order and go buy a Disney Dollar

 

[mad4themouse]

Although we have not tried to pay the mortgage with a credit card, we have used rewards credit cards to pay for a number of things that you normally would write a check for or else pay for in cash.

• Groceries
• Gasoline
• Prescriptions
• Doctor and Dentist
• Orthodontist
• Heating Oil
• Electric and Phone Bills
• Insurance
• Newspaper Delivery
• Landscaper and other contractors

None of these are considered cash advances. The nice thing is that we now write only one check for all those things and we also have a better idea of where all the money goes every mnth because it's printed out in one statement!

 

[mm6mm6]

Okay, let me start by saying I called Disney Visa and DO NOT even think about attempting what I was asking about. They said it is a cash advance and they WILL charge their highest interest rate starting right when you walk out the door (not a month later when the bill comes).
I saved a ton when my old Ford Citibank card gave 5% back on a new Ford...five times what the Disney Card pays back. If this would have worked and a person could have paid their mortgage over 12 or more months, this could have been hundreds of dollars. It is pretty tought that you have spend $2000 just to reach the minimum of $20. But we put our trip on the card so that's $20 we didn't have before. And the Ford card is no longer....
So anyway, DON'T TRY IT!!!!!!! Thanks for all the input everyone!

 

[Minnie's Mate]

My wife was looking into doing something similar only doing it on-line as a credit card charge. I don't know if she ever persued it to find out whether it could be done or not.