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.

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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 October 20th, 2018
Name Product Credit Score Min. Annual Fee Intro Balance Transfer APR Reward Value per Dollar Secured or Unsecured Annual Fee APR for Purchases (Purchase Rate) Intro APR for Balance Transfer
680
95
0%
1
Unsecured
$95
14.99% to 25.99% variable
0% for the first 12 months (then 14.99% to 25.99% variable)
Earn $200 bonus cash back after you spend $1,000 on purchases in the first 3 months. Rates & Fees
680
0%
1
Unsecured
$0
14.99% to 25.99% variable
0% for the first 15 months (then 14.99% to 25.99% variable)
Earn a $150 bonus statement credit after you spend $1,000 on purchases in the first 3 months. Rates & Fees
680
550
1
Unsecured
$550
None (Charge Card)
Get 5X Membership Rewards® points on flights booked directly with airlines or with American Express Travel and 5X points on eligible hotels booked on amextravel.com. Rates & Fees
680
0%
1.5
Unsecured
$0
14.99% to 25.99% variable
0% for the first 15 months (then 14.99% to 25.99% variable)
Earn up to $250 back. Earn $150 back after you spend $1,000 or more in purchases with your new Card within the first 3 months of Card Membership. Plus, earn an additional $100 back after you spend an additional $6,500 in purchases within your first 12 months. You will receive the cash back in the form of a statement credit. Rates & Fees
720
0%
Unsecured
$0
13.99% variable
0% for the first 15 months (then to variable)
A low, variable APR on purchases, balance transfers and cash advances.
680
1
Unsecured
$0
17.74% to 26.74% variable
Earn 10,000 Bonus Miles after spending $500 in purchases on your new Card in your first 3 months of Card Membership. Rates & Fees
680
95
1
Unsecured
$0 annual fee for the first year ($95 thereafter)
17.74% to 26.74% variable
30,000 bonus miles after you use your new card to make $1,000 on purchases within the first 3 months. Rates & Fees
680
95
2
Unsecured
$0 annual fee for the first year ($95 thereafter)
17.74% to 26.74% variable
Enjoy a $0 annual fee on the first year and earn up to 2 Starpoints® for every dollar of eligible purchases. Rates & Fees
680
95
3
Unsecured
$95
17.74% to 26.74% variable
Earn 125,000 Hilton Honors™ Bonus Points after you spend $2,000 or more in purchases with your new Card within the first 3 months of Card Membership. Rates & Fees
680
3
Unsecured
$0
17.74% to 26.74% variable
Earn 75,000 Hilton Honors™ Bonus Points after you spend $1,000 in purchases on the Card within your first 3 months of Card Membership. Rates & Fees
715
495
0%
1
Unsecured
$495
16.99% variable
0% for the first 15 billing cycles (then to variable)
Mastercard Black Card members receive an annual $100 air travel credit toward flight-related purchases including airline tickets, baggage fees, upgrades and more.
195
0%
1
Unsecured
$195
16.99% variable
0% for the first 15 billing cycles (then to variable)
Enjoy unique excursions, privileged access to exclusive events and insider opportunities.
715
995
0%
2
Unsecured
$995
16.99% variable
0% for the first 15 billing cycles (then 16.99% variable)
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.
620
39
Unsecured
$39
24.99% variable
Designed to help build credit history with no deposit required and access to benefits.
620
99
Unsecured
$75 annual fee for the first year ($99 thereafter)
23.9% variable
With this card you get a 23.9% Variable APR.
300
48
0%
Unsecured
$75 annual fee for the first year ($48 thereafter)
29.99% variable
The First Access Card is a true VISA® credit card that does not require perfect credit for approval.
300
Unsecured
Up to
19.74% to 25.74% variable
Get 1% cash back rewards on eligible purchases including gas, groceries, and services such as mobile phone, internet, cable and satellite TV, terms apply.
720
0%
1
Unsecured
$0
15.24% to 25.24% variable
0% for the first 12 statement closing dates (then 15.24% to 25.24% variable)
Earn more cash back for the things you buy most.
720
95
1
Unsecured
$0 annual fee for the first year ($95 thereafter)
17.74% to 24.74% variable
Earn 50,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $625 toward travel when you redeem through Chase Ultimate Rewards®
720
450
1
Unsecured
$450
17.74% to 24.74% variable
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®.
690
0%
1.5
Unsecured
$0
16.74% to 25.49% variable
0% for the first 15 months (then 16.74% to 25.49% variable)
Earn unlimited 1.5% cash back on every purchase - it's automatic. No minimum to redeem for cash back.
680
95
1.5
Unsecured
$95
17.74% to 24.74% variable
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.
690
0%
1.5
Unsecured
$0
14.74%, 20.74% or 24.74% variable
0% for the first 15 months (then 14.74%, 20.74% or 24.74% variable)
Earn unlimited 1.5% cash back on every purchase, every day
690
0%
1
Unsecured
$0
16.74% to 25.49% variable
0% for the first 15 months (then 16.74% to 25.49% variable)
Earn 5% Cash back in bonus categories up to $1,500 every quarter. Earn 1% Cash back on all other purchases.
680
1.5
Unsecured
$0
16.99% to 24.99% variable
for the first 12 months (then 16.99% to 24.99% variable)
An intro offer rewards cardholders with a $250 value (25,000 online bonus points) after spending $1,000 within the first 90 days of account opening
680
0%
Unsecured
$0
16.74% to 25.49% variable
0% for the first 15 months (then 16.74% to 25.49% variable)
Jumpstart your financial fitness! 60 day introductory balance transfer offer, save on interest, and get your free monthly credit score.
750
95
2
Unsecured
$0 annual fee for the first year ($95 thereafter)
14.74%, 21.24% or 24.74% variable

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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