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Paying monthly bills (mortgage, car, etc) w/ credit card for rewards -- is it possible?

Posted on 6/5/18 at 7:10 pm
Posted by GhostReb
MS
Member since Aug 2012
61 posts
Posted on 6/5/18 at 7:10 pm
I'm sure this question has been answered before but I haven't been able to find anything. I have a credit card with a high limit ($8,500 - for me that's high) and I am curious if I can use said card to pay monthly bills and pay the balance in full every statement to maximize rewards on the card. I feel like I've seen people posting here that said they do that every month, but I have no idea how. Any help is appreciated. Thank you.
Posted by uptowntiger84
uptown
Member since Jul 2011
3882 posts
Posted on 6/5/18 at 7:18 pm to
Not all companies accept payments with credit cards.
Posted by LSUSUPERSTAR
TX
Member since Jan 2005
16303 posts
Posted on 6/5/18 at 7:23 pm to
Generally no one is going to let you use credit to pay a debt.
Posted by Fat Bastard
coach, investor, gambler
Member since Mar 2009
72460 posts
Posted on 6/5/18 at 7:35 pm to
some u can pay some u cannot. i pay as much as i can with my CC for rewards
Posted by foshizzle
Washington DC metro
Member since Mar 2008
40599 posts
Posted on 6/5/18 at 7:48 pm to
Credit card issuers charge a "swipe fee" to merchants. Because merchants have to give up money to accept a card, for the most part the only ones who will do it are those who think it is worthwhile to encourage payment.

I've personally been able to pay my utility and phone bills with a rewards credit card. Basically anything that can be considered very short-term debt can work out, most vendors selling monthly services will take a small haircut to ensure timely payment.

But installment loans are usually a different matter because you're contracted to owe the money anyway. So mortgages and car notes will generally accept cards but you have to pay a "convenience fee" to offset the swipe that the card charges the merchant.

For similar reasons, some local governments will accept a property tax payment charged to your card, provided you're willing to pay the extra fee.
Posted by jimbeam
University of LSU
Member since Oct 2011
75703 posts
Posted on 6/5/18 at 7:57 pm to
Everything but rent on my card
Posted by Powerman
Member since Jan 2004
162190 posts
Posted on 6/5/18 at 8:47 pm to
I've never heard of someone using a credit card to pay their mortgage but I won't tell you it's impossible

Even if you could do it, it might not be a rewards earning purchase. You'd have to look into the rewards program for that.
Posted by Tiger Prawn
Member since Dec 2016
21853 posts
Posted on 6/5/18 at 11:43 pm to
Typically most loans won’t accept credit card payments...and the few that will are likely tacking on a processing fee thats going to be higher than the cash back you’d be earning by using a credit card.

I do use credit cards for every bill or expense that I can though as long as there isnt a convenience fee. Gas bill, cable/internet, cell phone, car insurance...all on credir card automatic payments to build up cash back rewards.

I don’t have the option for credit cards on my mortgage, truck note, or water bill. Electric bill would charge me a convenience fee for using card instead of checking account. Those are only bills I pay without using card
Posted by Jp1LSU
Fiji
Member since Oct 2005
2542 posts
Posted on 6/6/18 at 7:32 am to
This is a weekly question around here. I do this for the most part. My water company charges extra for for CC payments so I don’t. I do pay car insurance 2x per year, electric, Netflix, amazon prime, all gas and groceries, and entertainment on CC.
Only thing I don’t use the CC for is mortgages, water, life Insurance’s, pool guy, and a few others.
Posted by kywildcatfanone
Wildcat Country!
Member since Oct 2012
118893 posts
Posted on 6/6/18 at 7:50 am to
I pay as many of my bills as possible with CC, but not everyone takes them.
Posted by GhostReb
MS
Member since Aug 2012
61 posts
Posted on 6/6/18 at 8:12 am to
Thanks for the help again, everyone! Forgive me for the redundancy of my question, but I was unable to find anything! Y'all have a great day!
Posted by brian_wilson
Member since Oct 2016
3581 posts
Posted on 6/6/18 at 11:33 am to
quote:

I've never heard of someone using a credit card to pay their mortgage but I won't tell you it's impossible


when I worked with a bank, people would use balance transfer to pay mortgages. I am not sure if they got rewards for it or not. Nor do I recall what sort of fees they paid to do it.

My mother bought a car with her Chevy credit card once. It took a bit of effort but it worked.
Posted by Displaced
Member since Dec 2011
32701 posts
Posted on 6/6/18 at 1:10 pm to
I pay all my bills on a cc except mortgage and water because they charge a bullshite $6 "convenience fee" for paying with cc.
Posted by tigersnipen
Member since Dec 2006
2085 posts
Posted on 6/6/18 at 6:14 pm to
If rewards is the main thing you are looking for and do not mind a surcharge then

https://www.plastiq.com can work for you. I use this sometimes for high spending bonuses i'll pay my mortgage on it for one month to make sure i hit it.
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