Can I pay some of my mortgage via a credit card

dc2447

I have 10k in a savings account.

I have several credit cards that give 1% cashback

I have no early repayment fees on my mortgage

Can I pay lumps of my Nationwide mortgage using credit cards then pay the credit cards right away but retain the cashback

kingkano

Not directly no.

You could establish what you want to overpay, then spend this amount from your day to day outgoings on the cashback card. Use the money you would have used for the outgoings for the mortgage. Then clear the credit card with your savings as you say.

You cant do a balance transfer kind of arrangement either - cashback isnt applicable on those or cash advances.

dc2447

but it isn't a cash advance or a balance transfer

danm

some lenders will not take payment via credit card. I understand this is because the FSA don;t look favourably on paying debt (i.e mortgage) with debt (i.e credit card)

kingkano

Im suprised you same 'some' I assumed none would take it directly.

To be quite honest, if you have a flexible mortgage and they accept credit card to pay it, this is a license to print some money!!! Pay the 10k from credit card to mortgage. Pay the credit card off and in the meantime borrow back the 10k out of your mortgage. repeat and rinse until you have reached the maximum cashback allowed on the c/c. get a new c/c with cashback and carry on till mortgage is paid off! surely!