With that being said today we are going to take a look at how to pay your mortgage with a credit card. The most common method of making mortgage payments is not my credit card.
In fact, many people did not know that they can use their credit cards to pay off their mortgages. Using a credit card to pay off your mortgage gives you so many advantages you will not get paying off your mortgage without a credit card.
Are you still having a mortgage you need to pay in order for you to finish buying your house? If your answer is yes then today I’m going to show you have to pay your mortgage with a credit card so that you can have extra benefits. In this article today I will show you everything you need to know to pay your mortgage with your credit card and also to access all the benefits.
Can You Pay Your Mortgage with a Credit Card?
If you are asking if it is possible to make payment for your mortgage with a credit card the answer is yes however it is not that easy. It is not possible to directly make payment for your mortgage using your credit card especially if it is a bank that gives you the mortgage. But with a series of work around it is very much possible for you to make payments for your mortgage using a credit card.
The only problem you will face is that after successfully using some of the ways I am going to be listing in this article today to pay your mortgage it might not look attractive anymore. However, if you are considering all the benefits that you will enjoy making payments using your credit card then you might want to stick around until the end of this article.
Should I Pay My Mortgage With a Credit Card?
As I mentioned above paying your mortgage with your credit card is not easy it requires several workarounds which is tedious and might make you decide not to do it again. But the question of whether should I pay my mortgage with a credit card is totally up to you because if you enjoy the benefits that you get afterward we should continue. And if you do not enjoy the benefits they will definitely stop.
Below are some of the benefits you will enjoy when you pay your mortgage with a credit card:
Earning Credit Card Rewards
When you constantly make payments with your credit card you will get rewards and bonuses for doing so this is the basic core of most credit cards. Which makes it one of the ideal reasons why you definitely need to pay your mortgage with your credit card. The main goal here is to take advantage of the payment benefits that you will be granted.
Earning a Sign-Up Bonus
The most credit card offers a signup bonus when you sign up for the first time for you spending a particular amount of money. One of the ways to spend this amount of money is to simply use your credit card to make mortgage payments so that you can receive your sign-up bonus. So if your sign-up bonus is what you are looking for then this is the way to go.
Avoiding a Late Payment
The best way to avoid late fees payment is to simply make use of your credit card to make your mortgage payment so that you are not going to pay on necessary interest. You can even use your credit card to get a short-term interest in him so that you can keep on paying your mortgage. However, it is not easy to make the credit card full payment and also the loan.
How Making mortgage Payments with your Credit Card Affect your Credit Score
One thing that is necessary for the calculation of your credit score is your credit utilization review. Your going to the legislation should be kept below 30% so that it does not impact negatively your credit score. When in use your credit card for mortgage payments you are taking on more credits so if you use or to your credit card limit it will affect your credit utilization ratio.
In this case, it will take a hit on your credit score so make sure not to go off to a 30% credit utilization ratio so that your credit score does not drop. If you discover that paying your mortgage with your credit card increases your credit utilization ratio it is definitely not worth it.
How to Pay Your Mortgage with a Credit Card
It is not that difficult at all for you to make payment for your mortgage using your credit card if you know this website called plastiq.com. it is one of the best websites that you can use in making payments from your credit card to various other services such as mortgages. Although it is very easy to make payments to order services using this website however you can only use specific cards to make mortgage payments with the website as well.
Some of the cards you can use in making mortgage payments includes Discover, some types of Mastercards, JCB International cards, and Diners Club International credit cards. Not that there is a 2.85 percent feeling that you are going to pay when using this website to make mortgage payments.
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