Making overpayments of the mortgage by using credit card?

krippo

Hi there!


I have credit card which I don't use, but I was wondering (because I make overpayments of my mortgage every month) if I can make overpayments with my credit card and keep cash on regular saver account and pay it back after 52 days?



Or they gonna charge me like a cash withdraw so it has no economical sense?

BoGoF

First things first.......does your mortgage provider accept credit card payments?

Does the regular saver allow withdrawals?

Thrugelmir

Credit card payment isn't going to be acceptable due to the fee levied on the transaction.

foxy-stoat

Probably not worth the hassle - how much per day per is your current mortgage costing you and what sort of credit limit have you got?

If I over paid my current mortgage by £5500 I would save £26 over 2 months....I suspect the transfer fee would be more than that though.

dimbo61

It would be treated as a cash payment and the fees would be painful.
This comes up every couple of months.
Lenders will not accept paying debt with debt ( credit cards )
Nice try all the same