- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
Why can't I pay for my mortgage with a credit card?
Posted on 8/29/15 at 9:34 pm
Posted on 8/29/15 at 9:34 pm
I would have sooo many free flights.
Also, why can't I use credit to pay for my truck and student loan payments?
I always pay my entire credit card balance.
I have outstanding credit
What gives?
Also, why can't I use credit to pay for my truck and student loan payments?
I always pay my entire credit card balance.
I have outstanding credit
What gives?
18
Posted on 8/29/15 at 9:34 pm to LSULyle00690
Have you tried?
Posted on 8/29/15 at 9:35 pm to LSULyle00690
Well - that's pretty much what brought about the recession a few years ago
Posted on 8/29/15 at 9:36 pm to kywildcatfanone
Yea, I called all 3. They only take checks or they will withdraw the money from a checking account
Posted on 8/29/15 at 9:37 pm to SFCATiger
quote:
Well - that's pretty much what brought about the recession a few years ago
No.
Posted on 8/29/15 at 9:37 pm to LSULyle00690
The payee doesn't want to incur a 2% transaction charge on the balance when they can take your electronic transfer for the full amount.
Posted on 8/29/15 at 9:37 pm to LSULyle00690
"The issue lenders have with paying the mortgage with a credit card is that it is setting the borrower up to increase debt load and compounding interest," says Chad Jampedro, chief operating officer of Brookfield, Wis.-based GSF Mortgage.
Mortgage debt has a structured repayment schedule, but credit card debt does not.
And that spells trouble.
You could make the minimum payment on the credit card, max it out, then find yourself with no way to pay the mortgage -- or your massive credit card debt.
Mortgage debt has a structured repayment schedule, but credit card debt does not.
And that spells trouble.
You could make the minimum payment on the credit card, max it out, then find yourself with no way to pay the mortgage -- or your massive credit card debt.
Posted on 8/29/15 at 9:37 pm to LSULyle00690
Transaction costs would be through the roof
Posted on 8/29/15 at 9:37 pm to LSULyle00690
I wish I could too. I pay everything besides my mortgage and car loan with a cc. I think I get 50-100 back a month.
If I could add my house more and car it would be another 20 or so a month.
I got some backwoods mortgage company when my builder sold it off. They charge five fricking dollars to pay online. So I mail it every damn month.
If I could add my house more and car it would be another 20 or so a month.
I got some backwoods mortgage company when my builder sold it off. They charge five fricking dollars to pay online. So I mail it every damn month.
This post was edited on 8/29/15 at 9:41 pm
Posted on 8/29/15 at 9:37 pm to LSULyle00690
You're the exception, not the rule.
Allowing people to put everything on credit is dangerous because most people are fricking stupid.
Allowing people to put everything on credit is dangerous because most people are fricking stupid.
Posted on 8/29/15 at 9:38 pm to LSULyle00690
Well, they owe the credit card company 3-5% when you use that thing... So there's that
Posted on 8/29/15 at 9:38 pm to LSULyle00690
They don't want to pay the fee. Why would they?
Posted on 8/29/15 at 9:39 pm to SFCATiger
quote:
Well - that's pretty much what brought about the recession a few years ago
Huh?
Posted on 8/29/15 at 9:39 pm to LSULyle00690
quote:
Why can't I pay for my mortgage with a credit card?
You can.
Posted on 8/29/15 at 9:39 pm to auisssa
Well I see your point, but I would never do that. My balance is always paid off, I should get these rewards
Posted on 8/29/15 at 9:39 pm to LSULyle00690
I remember the first time that I learned how credit cards work
Posted on 8/29/15 at 9:40 pm to stout
quote:
Huh?
Yea, that's not true.
Posted on 8/29/15 at 9:41 pm to LSULyle00690
quote:
LSULyle00690
Yeah, I've tried this as well. I would throw everything on my AMEX if I could.
I remember a "scam" a few years ago that involved people buying like $25,000 worth of stuff from the Franklin Mint, I think, and then they would return it. But, for some reason, I think the purchase remained on the card (not sure how the return was given out), and people were racking-up crazy amounts of points.
At some point, AMEX found out and put a stop to it, but I think a few people got a shite-ton of points out of it.
Posted on 8/29/15 at 9:42 pm to RummelTiger
I tried to buy a truck on AMEX to get double manufacturer warranty
They said, "hell naw, baw"
They said, "hell naw, baw"
This post was edited on 8/29/15 at 9:43 pm
Posted on 8/29/15 at 9:43 pm to LSULyle00690
What if you paid with those checks the credit card companies give you?
Page 1 of 3
Popular
Back to top
Follow TigerDroppings for LSU Football News