paying a mortage w/ a c/c disney visa

[supergoofy]

i have got a bank one visa card thats gives me 1% back and i plan on buying food and fuel on it also my cell phone bill and cable/internet can be paid with it. now my wife and i are looking to refinance our house we live in ca and housing is crazy here so since we plan on a refi anyway thought i would ask if anybody has one that they pay with their c/c. thanks for any help

 

[mad4themouse]

You might find that difficult to do. It will depend upon your mortgage companiy and the way Bank One handles the payment. They may treat it as a cash advance (no rewards dollars for that) and charge you interest from the very first day (no grace period). And that would only be if the mortgage company accepts credit card payments.

I'm not saying that it can't be done, just check everything out before you do it. It maight actually cost you money in the long run.

 

[maggiew]

Our mortgage company won't accept credit cards. I have tried to do this too. I guess they feel that if you need to pay off your mortgage with a credit card that you may be in some kind of financial trouble!! Dont' they understand about us reward card junkies ????? It seems to me that if they see that you pay it off every month that they should let you charge it.

Maggie

 

[MomlovesDad]

Could you use your cc to purchase a money order to pay your mortgage? I really don't use cc's very much - only for medical and online purchases. Just wondering.
MomlovesDad

 

[supergoofy]

Originally posted by MomlovesDad
Could you use your cc to purchase a money order to pay your mortgage? I really don't use cc's very much - only for medical and online purchases. Just wondering.
MomlovesDad

thats an idea but with the time involved and the cost of the money order i'd be money behind.

 

[sugermouse]

LOL-I have never heard of a mortgage company that accepts credit cards! Creative thought..

 

[crisi]

There is also a merchant charge to accept credit cards. IIRC, its some percentage of the total sale. So it isn't "free" to your mortgage company to accept them.

Same with a cashier's check. The bank isn't "selling" you anything, so they will loose money "selling" you a cashier's check on your credit card.

 

[Lewisc]

Originally posted by MomlovesDad
Could you use your cc to purchase a money order to pay your mortgage? I really don't use cc's very much - only for medical and online purchases. Just wondering.
MomlovesDad

But it would probably be treated as a cash advance. No FF credits and interest is charged from the date of the advance (no grace period).