Paying mortgage with credit card

superM
superM Posts: 329
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Hi, 

Wondering if anyone has tried making additional payment using a credit card Natwest Mortgage. Does it shows as a cash pyamnrt or a purchase transaction?
Thanks

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  • Thrugelmir
    Thrugelmir Posts: 89,546
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    Credit card payment will not be accepted for the mortgage. 
  • D3xt3r5L4b
    D3xt3r5L4b Posts: 1,852
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    A Curve card might allow it though 
  • superM
    superM Posts: 329
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    On my natwest online mortgage.  When I click on to make an additional payment. Its says debit and credit card accepted. 
  • D3xt3r5L4b
    D3xt3r5L4b Posts: 1,852
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    superM said:
    On my natwest online mortgage.  When I click on to make an additional payment. Its says debit and credit card accepted. 
    You’d need to ask the credit card company what merchant code the use for a mortgage payment. 
  • Cell
    Cell Posts: 580
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    Just bringing this one back to see if anyone has any further experience. Nat West certainly do offer the credit card option for overpayments, but I am reluctant to do so just to receive a few points from my affinity card. I just have the feeling that any answer from Nat West will be in vague terms.
    Any help appreciated.

  • MallyGirl
    MallyGirl Posts: 6,515
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    it might count as a cash transaction and therefore have no interest free period. 
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  • Cell
    Cell Posts: 580
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    Yes. I guess I will need to check with Nat West.
    I am also concerned that it might look like a distressed payment with it coming from credit despite being an overpayment!
    Thank you.
  • PRAISETHESUN
    PRAISETHESUN Posts: 3,642
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    They'll either not allow it, or it will probably be treated as a cash transaction. If you've got the savings to make an overpayment, I'd just use a debit card or do a bank transfer... much simpler
  • Cell
    Cell Posts: 580
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    Oh they definitely allow it. It's an option when you process the overpayment.
    I do do it by debit card but if I was doing so and missing out on credit card loyalty points in the process it would be silly not to use  the CC. As you say it might be treated as a cash transaction in which case that would have implications both in terms of fees but also the reporting to the CRCs/
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