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Using credit card to pay mortgage?

Hi, i have a Amex credit card that gives me cashback - is it possible to pay my mortgage using the card without incurring any transaction charges? - i have looked on the amex site to see if i can set up a direct debit with no joy - i am assuming this is seen as paying credit with credit - thoughts/ideas? - note my mortgage lender is Santander

Comments

  • opinions4u
    opinions4u Posts: 19,411 Forumite
    The general answer is: Not a chance!

    Some lenders may accept credit card payments for arrears payments. Whether or not this would incur a fee from either the lender or the card company I really don't know.
  • cajsa
    cajsa Posts: 86 Forumite
    opinions4u wrote: »
    The general answer is: Not a chance!

    Some lenders may accept credit card payments for arrears payments. Whether or not this would incur a fee from either the lender or the card company I really don't know.

    thanks - thought that would be the case but worth asking anyway:T
  • Joe_Bloggs
    Joe_Bloggs Posts: 4,535 Forumite
    edited 20 November 2010 at 11:28PM
    There are costs involved with receiving payments whatever the payment
    http://en.wikipedia.org/wiki/Credit_card#Costs_to_merchants
    Your mortgage company would need to pay costs for the transaction and they would want get the money back from you somehow.

    This scheme sounds like robbing 'Peter to pay Paul'. You can decide on who Peter and Paul is.

    It looks bad for all parties if you are using lines of credit to pay your mortgage.

    I was able to pay my council tax with a rebate credit card but the council chose to add a surcharge for this method that more than compensated for their losses and this outweighed any benefit I could have made.

    J_B.

    Edit:- my link to wikipedia did not work but now it does.
  • dimbo61
    dimbo61 Posts: 13,727 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    The credit card payment if they allowed it would be treated as a cash advance !!!! with all the costs that involves so nice try and this has been thoughtof before
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