Using credit card to pay mortgage?

cajsa

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

opinions4u

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

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

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

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