How millions are using credit cards to pay mortgages

Graham_Devon

Blacklight wrote: »

So what if they do? They're the ones who will ultimately end up owning their own home and not having to go out to work if they don't feel like it later in life.

People can scoff from their over priced rentals while their savings dwindle in value and they have to work until 75 if they like but it's always those that apply themselves and use whatever means they can to achieve their goal that end up on top.

Good luck to them. I hope it works out and they get to rest easy very soon.

Your posts get worse by the day. Firstly suggesting so what that people are using some of the highest cost credit to pay off the lowest cost credit, and secondly, suggesting that people don't have to work if they own a home.

zappahey

Sibley wrote: »

It's no worse choosing to pay your mortgage with a CC than going on holiday with one.

You might want to thank that through a little bit.

chucky

Graham_Devon wrote: »

Your posts get worse by the day. Firstly suggesting so what that people are using some of the highest cost credit to pay off the lowest cost credit, and secondly, suggesting that people don't have to work if they own a home.

you really can't read can you

Blacklight wrote: »

They're the ones who will ultimately end up owning their own home and not having to go out to work if they don't feel like it later in life.

"ultimately end up owning their own home" = no mortgage, paying for housing is not a factor.

renting = paying for housing = they do have to work to pay for your own housing.

it really isn't that hard to understand or is it???
well i guess it is in your case

RenovationMan

So from Shelter's figures, 134 people out of the 2234 questioned, had used credit card to pay mortgage or rent?

I wonder where these 2234 people live? I doubt if they were asking the question around Mayfair they would get the same response than from down the Old Kent Road (my knowledge of London comes from Monopoly).

I wonder how many of thse 2234 are ghosts made up by the researchers because real people kept rushing past them on the way to the train station, work, pub, etc?

I dont really believe any of these surveys, they are on just too small a sample and they are hardly carried out to scientific standards, yet they become FACT once quoted. You have to laugh really. All good fun.

Really2

RenovationMan wrote: »

So from Shelter's figures, 134 people out of the 2234 questioned, had used credit card to pay mortgage or rent?

I wonder where these 2234 people live? I doubt if they were asking the question around Mayfair they would get the same response than from down the Old Kent Road (my knowledge of London comes from Monopoly).

I wonder how many of thse 2234 are ghosts made up by the researchers because real people kept rushing past them on the way to the train station, work, pub, etc?

I dont really believe any of these surveys, they are on just too small a sample and they are hardly carried out to scientific standards, yet they become FACT once quoted. You have to laugh really. All good fun.

It was done by you gov and guess what, you get paid for doing the surveys.
So what kind of people would do on line surveys for money, I would guess skint ones.

What’s in it for me?
Every time you complete a paid survey you will receive at least 50p into your YouGov account, and when this account reaches £50 you will be sent a cheque, as well as chances to win other occasional cash prizes.

Kind of makes it far from proportionate of the UK population, it is like going to a pub and deducing the whole of the UK drink in pubs on a friday or saturday night.

In my opinion any poll that pays will not be representative on financial matters. It is obvious a higher proportion who do them need extra income.

michaels

A few of the forums I frrequent they have found which mortgage companies take credit card payments and are cashing in via cashback or stoozing. If only FD would take a CC payment I would pay down a couple of hundred k for 1% cashback and then obviously redraw to continue my profitable mortgage stooze and repeat every month....

nembot

I think paying the mortgage or rent on a CC, possibly shows trouble ahead.

ILW

THE_GHOULISH_PROPHECIES wrote: »

Using a credit card to pay a mortgage is simply another payment option families enjoy. Nothing to see hear.

Are single people not allowed to use this option?

nembot

It's not a problem, if the person pays their card in full every month.

If not, it's clearly is a major issue and further proof many are overstretched already.

Graham_Devon

It really isn't a problem.

They could use their credit card to pay their mortgage, and then consolidate the credit card loans into one big loan, secured on the house.

It's actually quite a genius plan.