Can you pay a mortgage with a credit card?

ZOZO93

As simple as that really!

Essentially I have a credit card which gives me a fair few nectar points each month. I was wondering as a way to maximise my point earning potential is it possible to make overpayments on a mortgage with a credit card?

JGB1955

Presumably it would be treated as a cash advance... so not very money saving.....

ZOZO93

JGB1955 said:

Presumably it would be treated as a cash advance... so not very money saving.....

Sorry if this is a really silly question but what do you mean by a cash advance?

JGB1955

The same as going to a 'hole in the wall', taking out cash on your credit card... then paying interest from the date of that transaction.  So, you're swapping 1.5%? for 19.9%?

amnblog

You will have smarter ideas.

georgehere

No you can't and you can't pay your council tax with a credit card either

edwink

georgehere said:

No you can't and you can't pay your council tax with a credit card either

Our council allows payments by credit card but I guess it might not be the same for all councils. 

MWT

edwink said:

georgehere said:

No you can't and you can't pay your council tax with a credit card either

Our council allows payments by credit card but I guess it might not be the same for all councils. 

Even if it is allowed you need to be careful these days as most card providers are getting much tighter on what they consider to be a cash advance rather than a purchase of goods and services. 

aoleks

The only time this makes sense is if you have a money transfer offer at 0% with no fees. But that takes you into stoozing and is not really related to your mortgage or other regular payments, though you can use the money for pretty much anything.

Thrugelmir

Your mortgage lender is unlikely to wish to incur the fees that will be charged. 

ACG

I used to work for RBS/Tesco/Mint credit cards back in the day. You used to have different interest rates for purchases, balance transfers, money transfers (which is what I think this would be) and cash advance (ie cash machine). 

I dont think you will get nectar points on the money transfers, it is usually limited to purchases only, maybe balance transfers. 

Can you do, probably. 
It will probably cost you and I dont think you will get the points. BUT, check with the credit card issuer, you never know. You would not believe some of the things we used to see. Argos store cards, there used to be a little hack you could earn free money but nobody knew about it, it was only discovered because some bloke made a mistake paying his partners credit card... But that was about 15 years ago now. That took about 3 weeks to get fixed.