Super Fitness Health BlogMay I Pay My Mortgage With A Credit Card?
The very first way is to utilize the ease checks that credit card companies send out from time to time. These checks work like those you’d write from the checking account, however they bring against your credit in the place of available bank funds. It is possible to signal, write and mail these off to mortgage organizations.
The second way is to use an online billpay element (such as the form offered by MBNA). This…
Yes you can. You can find two methods to produce a mortgage payment with your bank card.
The initial way is to utilize the benefit checks that credit card companies distribute every so often. These checks work like these you would write from a checking account, nevertheless they draw against your credit instead of available bank funds. You can write, indication and mail these off to mortgage organizations.
The second way is by using an on line billpay element (such as the type available at MBNA). This permits a certain amount to be paid by you to the particular organization. The quantity will soon be drawn out of one’s available credit and paid to the loan company much like a check.
The disadvantage to these two approaches?
You will not receive any cashback, miles, details and other credit card incentives for these transactions; which is the primary reason for spending with a credit card anyway.
So, will there be a method to pay with a credit card and still have the bonuses?
Yes there is. Well, there was.
There was an occasion whenever you might buy Charter One surprise cards using your charge card. These worked exactly like ATM/Debit cards and might be loaded with around $500 each.
Basically you simply had a need to take them to an ATM, acquire these present cards and pay the withdrawal cost (around $3) and pocket the $497 cash, while still receiving your bank card bonuses. You could then deposit enough income to pay your mortgage and write a check always to cover the cost.
Of course, this all required a lot of planning, but being able to get money from a bank card without spending huge cash-advance fees AND still having your advantage benefits is a huge plus.
Naturally, this program was abused in this way, and when they realized they werent planning to make much money from it, the program was cancelled.
Because the time is come up all by them, but be searching for another loophole similar to this!
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