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Make Mortgage Payments By Credit Card To Get Airmiles?
Derek_Hercules
Posts: 11 Forumite
Can I use a credit card to make my monthly mortgage repayments?
Just now my monthly payments go directly from my bank to Northern Rock. If I could pay using my Lloyds TSB Aimiles Duo credit card instead I figure I'd be able to collect lots of airmiles every year.
Is there a difference between the contractual monthly repayment and voluntary overpayments?
Note: this is not about me being unable to afford the repayments and looking for a (reckless) emergency solution. This is simply about seeking to maximise my airmiles - I would always pay off the credit card balance in full every month.
Just now my monthly payments go directly from my bank to Northern Rock. If I could pay using my Lloyds TSB Aimiles Duo credit card instead I figure I'd be able to collect lots of airmiles every year.
Is there a difference between the contractual monthly repayment and voluntary overpayments?
Note: this is not about me being unable to afford the repayments and looking for a (reckless) emergency solution. This is simply about seeking to maximise my airmiles - I would always pay off the credit card balance in full every month.
LTV50 Challenge: From Negative Equity To LTV Below 50% In Two Years
Mortgage At Start (30/09/09): £81,890.54 | Target Balance For 30/09/11: below £50,000 | Current Balance: [STRIKE]£81,338.16[/STRIKE] [STRIKE]£80,484.33[/STRIKE] £78,805.87
Mortgage At Start (30/09/09): £81,890.54 | Target Balance For 30/09/11: below £50,000 | Current Balance: [STRIKE]£81,338.16[/STRIKE] [STRIKE]£80,484.33[/STRIKE] £78,805.87
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Comments
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AFAIK you cannot do this. The only way would be to draw cash on the credit card and then pay over the counter into your mortgage account, but then you would obviously be shafting yourself with cash advances!
So basically no, would be rather good for me if you could as my amex is paying 5% cashback at the moment!
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You can pay your council tax with credit card tho.0
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Some lenders do allow this, I believe, but they may consider your request to pay by CC as indication you are having cash-flow problems. Additionally, the CC provider may consider this a cash advance, and charge a fee for this."You were only supposed to blow the bl**dy doors off!!"0
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