Can I pay my Mortgage using my Credit Card

naijapower

In my case, i certainly wouldnt use my credit card if it would cost me more.

Even if your lender permits, i would recommend only those that are financially disciplined who won't get carried away and forget to pay the full amount.
If lender is happy and there is no extra charge, why not? It is all about money saving and earning ,more money.
Some people's mortgage amounts to 1K per month, which means in one year, you would have 12K worth of transactions from mortgage payments.
trust me, this can convert to useful airmiles for you annual break....so why not?
Obviously, all the issues have to be checked in advance especially that it wont be treated as cash advance and there is no extra charge.

Dan_1976

If the maths work and you are doing it for that and not to live then why not?

Some really harsh posts in here. Who cares if it means lenders incur more charges, after what they have done to us and will keep on doing it why not. Its a dog eat dog world!

I am pretty sure most lenders will be fine though. Dont use cheques though and make sure you check the card fees etc.

George, how can you use the word greed in the defence of any financial institution? Joke?

Clint_Bond

Just for info I have tried to get some straight answers from both lender and credit card company.

Credit card company has yes but when asked if it would be classed as a cash advance or a purchase they told me to ask the lender as its down to them.

Guess what when I asked the Lender they said no problem but its up to how your Credit card company classify it, whether its a cash advance or purchase.

I completely agree with what DAN_1976 they would do me over without a thought. Martin Lewis says loyalty costs you.
I'm looking after my own family first

stolt

interesting, i always thought you couldnt pay off credit with credit, well i heard that saying somewhere. I have a pretty good cashback card that i could use to pay my mortgage off and have a DD set up to pay the card off in full each month already! will look further into this one.

Clint_Bond

Called Credit card company again just now and asked to speak to a manager regarding this and finally got a straight answer!!!

If you pay your mortgage using your credit card "IT IS CLASSED AS CASH ADVANCE" so would be paying interest on that immediately and until you paid the balance of in full!!

Was only an idea to help pay for treats for the family so back to the drawing board.

Pay_ALARP

Before you bin that idea completely, arn't the vouchers you pick up worth more if you redeem them against holidays etc?

I'm not sure but if you were looking for "treat" value as oppossed to "cash" value, it still may be worth pursuing.