Finder is committed to editorial independence. While we receive compensation when you click links to partners, they do not influence our content.
Using a credit card to pay a mortgage
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.
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
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 2021‘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.
More guides on Finder
If you’re looking for a broker comparable to Vanguard, check out these five contenders.
5 key TD Ameritrade competitors
Thinking of switching from TD Ameritrade? Here are 5 apps like TD Ameritrade that offer valuable benefits.
5 best overwater bungalows in Thailand
Our picks of the best overwater stays in the Land of Smiles from budget-friendly to luxurious.
How to buy Reserve Rights Token (RSR)
This guide will show you step-by-step instructions on how to buy the Reserve Rights (RSR) token as well as a list of exchanges you can trade it on.
How to buy Curve DAO Token (CRV)
This guide will show you step-by-step instructions on how to buy the Curve (CRV) token as well as a list of exchanges you can trade it on.
Apps like Acorns
Acorns alternatives offer lower fees and more investment options. Learn more.
These are the comfiest sweats I’ve worn — and they’re from a sustainable children’s brand
Hanna Andersson’s Organic Cotton Long John is comfortable and available in family sizes. Here’s what I thought of the fit, and details on sustainability.
Where to buy protective masks for wildfire smoke
Find in-stock face masks for wildires, smoke and dust, see our top picks and read tips for using respirator smoke masks.
Bitcoin price recovers but the bloodbath may not be over
The Chairman of Dubai’s IBC Group has pledged a whopping $4.8 billion into Bitcoin, as Microstrategy purchases another $1 billion of BTC.
How to buy Maker (MKR)
This guide will show you step-by-step instructions on how to buy the Maker (MKR) token as well as a list of exchanges you can trade it on.
Ask an Expert