Using a credit card to pay a mortgage | finder.com
Using a credit card to pay a mortgage

Using a credit card to pay a mortgage

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To pay your mortgage with your credit card, look into third-party bill pay.

When it comes to paying your mortgage, using a credit card can sound like a good option.

With big mortgage payments, for example, you could collect a lot of rewards points. And instead of having to spend money on your mortgage immediately, you could instead shell out the dough when your card bill arrives.

Unfortunately, most mortgage servicers don’t allow credit card payments. Furthermore, you’ll usually have to pay processing fees if you use your card.

But you do have a way to get around any restrictions: using a third-party bill pay service.

How to pay your mortgage with a credit card

To pay your mortgage with your credit card, consider two third-party bill pay services: Tio and Amex Bluebird.

Tio

Through Tio (formerly ChargeSmart), you can pay your mortgage with a few dozen servicers. Wells Fargo, Quicken Loans, Sallie Mae, Farmers Insurance, Bank of America Home Loans and Chase Home Finance are just a few options.

To pay by credit card, through, Tio charges a processing fee equal to about 2.8% of your transaction.

American Express Bluebird

Amex Bluebird is a checking alternative through which you can pay your bills. Unfortunately, it’s not the most convenient option if you want to pay your mortgage with plastic.

The key reason is because you can’t load your Bluebird account directly with a credit card — instead, you’re limited to options like your checking account, savings account and debit card.

You can add money to Bluebird through credit card, albeit indirectly. A common method is to use plastic to purchase pin-activated Visa gift cards that work like debit cards. They cost around $5 apiece, and you can use them to load your Bluebird account and subsequently pay your mortgage.

Though you’ll have to pay for the Visa gift cards, you won’t have to pay anything to open a Bluebird account online. Paying bills through Bluebird is free too.

Compare credit cards

Updated August 15th, 2018
Name Product APR for Purchases (Purchase Rate) Intro APR for Balance Transfer Annual Fee
14.74%, 18.74% or 24.74% variable
0% for the first 15 months (then 14.74%, 18.74% or 24.74% variable)
$0
Earn unlimited 1.5% cash rewards on purchases. See Rates and Fees
12.74%, 16.74% or 20.74% variable
0% for the first 18 months from account opening (then 12.74%, 16.74% or 20.74% variable)
$0
An 18-month 0% Intro APR period on both purchases and balance transfers, plus zero foreign transaction fees, makes this is a strong well-rounded card. See Rates and Fees
16.74% variable
0% for the first 15 billing cycles (then 16.74% variable)
$495
Mastercard Black Card members receive an annual $100 air travel credit toward flight-related purchases including airline tickets, baggage fees, upgrades and more.
16.74% variable
0% for the first 15 billing cycles (then 16.74% variable)
$195
Enjoy unique excursions, privileged access to exclusive events and insider opportunities.
16.74% variable
0% for the first 15 billing cycles (then 16.74% variable)
$995
Earn points every time you spend. Luxury Card enhances your purchasing power by providing you with one (1) point for every one dollar ($1) you spend. Every purchase gets you closer to the rewards you want.
24.74% variable
$39
Designed to help build credit history with no deposit required and access to benefits.
23.9% variable
$75 annual fee for the first year ($99 thereafter)
With this card you get a 23.9% Variable APR.
19.74% to 25.74% variable
$0 to $99
Get 1% cash back rewards on eligible purchases including gas, groceries, and services such as mobile phone, internet, cable and satellite TV, terms apply.
14.74% to 25.74% variable
0% for the first 15 months (then 14.74% to 25.74% variable)
$0
Earn 10,000 Membership Rewards® Points after you use your new Card to make $1,000 in purchases in your first 3 months.
14.99% to 24.99% variable
0% for the first 12 statement closing dates (then 14.99% to 24.99% variable)
$0
Earn more cash back for the things you buy most.
14.74% to 25.74% variable
0% for the first 15 months (then 14.74% to 25.74% variable)
$0
Earn $200 back after you spend $1,000 in purchases on your new Card in your first 3 months. You will receive the $200 back in the form of a statement credit.
17.74% to 24.74% variable
$0 annual fee for the first year ($95 thereafter)
Earn 50,000 points when you spend $4,000 on purchases within the first 3 months of your account opening, and an additional 30,000 points when you spend a total of $30,000 on purchases within the first year of your account opening.
17.74% to 24.74% variable
$450
Earn 50,000 BONUS POINTS after spending $4,000 on purchases in the first 3 months from account opening* — that's $750 toward travel when you redeem through Chase Ultimate Rewards®.
14.74% to 24.74% variable
0% for the first 12 months (then 14.74% to 24.74% variable)
$95
15,000 Membership Rewards points after you spend $1,000 in the first 3 Months of opening your account
16.74% to 25.49% variable
0% for the first 15 months (then 16.74% to 25.49% variable)
$0
Earn unlimited 1.5% cash back on every purchase - it's automatic. No minimum to redeem for cash back.
17.74% to 24.74% variable
$95
Earn unlimited 2 points for every $1 spent on travel and dining purchases and 1.5 points for every $1 spent on all other purchases.
14.74%, 20.74% or 24.74% variable
0% for the first 15 months (then 14.74%, 20.74% or 24.74% variable)
$0
Earn unlimited 1.5% cash back on every purchase, every day
16.74% to 25.49% variable
0% for the first 15 months (then 16.74% to 25.49% variable)
$0
Earn 5% Cash back in bonus categories up to $1,500 every quarter. Earn 1% Cash back on all other purchases.
16.74% to 24.74% variable
$0
20,000 online bonus points offer. Ditch the restrictions of typical airline rewards cards. Any airline, any hotel, anytime. No blackout dates.
16.74% to 25.49% variable
0% for the first 15 months (then 16.74% to 25.49% variable)
$0
Jumpstart your financial fitness! 60 day introductory balance transfer offer, save on interest, and get your free monthly credit score.
14.74%, 21.24% or 24.74% variable
$0 annual fee for the first year ($95 thereafter)
Earn 50,000 bonus miles after spending $3,000 on purchases within the first 3 months from account opening.

Compare up to 4 providers

Why you should — and shouldn’t — use a credit card to pay your mortgage

If you’re able to use your credit card to pay your mortgage, you might pay processing fees of 2% to 3%. And such high fees could erase any rewards you’ll earn from credit card rewards.

That said, you’ll find situations where using your card could save you money or time.

Consider paying your mortgage with a credit card if you want to:

  • Reach a minimum spend for a signup bonus.
    Signup bonuses typically require spending a few thousand dollars. You can reach yours more easily by paying your mortgage with your credit card. Just make sure that processing fees don’t erase what you’d gain from your bonus.
  • Defer your mortgage payment.
    You can take advantage of your credit card’s grace period, during which your balance won’t accrue interest. Instead, you can use the funds for something else before your card bill is due.

Which credit card is the best for rewards?

There’s no “best” credit card — but that’s part of the fun. It means you can compare the pros and cons of many cards to find the best one for you. To get started, take a look at our list of 2017’s best credit cards.

Consider not paying your mortgage with a credit card if:

  • You’re having trouble making your mortgage payments.
    Putting mortgage payments on your card can lead to a mountain of debt due to snowballing interest. If you’re in a financial difficulty, your mortgage servicer may be willing to work with you to avoid foreclosure.
  • You just want a convenient payment option.
    Instead of paying a processing fee to use your credit card, pay your mortgage for free through your bank account. Many mortgage servicers even offer autopay.

Kevin Joey Chen

Kevin Chen is a world-travelin', copy-writin', Game of Thrones-watchin' credit cards writer for finder.com. When he's not crunching the numbers on bonus points and comparing APRs, you can find him flying around the world in search of the perfect beer.

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