Mortgage on Credit Card

andygreg81

Hi All, I have quick question.
Is it possible to pay your mortgage on a credit card?
Don't get me wrong, I am not in financial difficulty, but it occurred to me that my mortgage is my largest individual monthly outgoing and I figured i may be able to rack up a load of air miles or other points if i were to pay it on a credit card and then pay off the balance each month.

Also, could I do this with my other utility and phone bills?

Your comments on the topic would be much appreciated.

Cheers

[Deleted User]

Check with your lender. Some do, some don't.

JDC14

Items such as phone bills etc. in my experience, charge a fee for you paying by credit card.

thenudeone

Some utilities will accept them, especially in advance., eg: Scottish power will give a 5% discount off their standard rates if you pay for a year in advance on a card.

I doubt a mortgage provider would accept them, because of the merchant fees they would have to pay.
Shops don't like credit cards because of the fees, but usually accept them because if they didn't, customers would switch to another shop which accepts credit cards. You can't do that with a mortgage. You pay up in the way they want or you lose your house.

dobsoncrew

Would be nice if they did

lisyloo

On the whole they will only accept credit cards as a last resort from people who are in arrears.
Most utilities offer discounts for pying by direct debit, which may be the best discount available.
A few - like some councils, may accept credit cards, but on the whole they are not widely accepted.

The fees are normally the issue. Restaurants and shops accept them because they don't have much of a choice in a competitive sense.

malcolmffc

Bad idea. Even if the bank allowed you to use a CC, it would be treated as a cash advance on your account, which would mean you get charged interest instantly (no 56 day period) and no air miles.

lisyloo

Even if the bank allowed you to use a CC, it would be treated as a cash advance on your account

Do you havea source/link for this statement?
Where does it come from?
I'm not sure it's correct.
It's a payment for services not a cash advance.