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Valued Contributor
trumpet-205
Posts: 2,177
Registered: ‎11-11-2010

Re: Can we not pay SL's with CC's?

[ Edited ]

A little reality check,

 

* Do you ever heard of banks allowing you to use debit/credit card to pay mortgages?

* What about auto loan?

* What about student loan?

* What about credit card bill? (not as BT)

 

Banks don't do it because of the fee and/or the fact that you are using another loan to pay off an existing loan.

 

You could use sites like Chargesmart but it charges very high fee. It will cost you more to pay using Chargesmart (4~5% of fee vs 1~2% credit card rewards) than using a checking account.

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Valued Contributor
j_casteel
Posts: 1,691
Registered: ‎06-21-2012

Re: Can we not pay SL's with CC's?


trumpet-205 wrote:

A little reality check,

 

* Do you ever heard of banks allowing you to use debit/credit card to pay mortgages?

* What about auto loan?

* What about student loan?

* What about credit card bill? (not as BT)

 

Banks don't do it because of the fee and/or the fact that you are using another loan to pay off an existing loan.

 

You could use sites like Chargesmart but it charges very high fee. It will cost you more to pay using Chargesmart (4~5% of fee vs 1~2% credit card rewards) than using a checking account.


Thanks for the info....that's why I joined this forum and ask questions if I'm unsure.

 

I won't be using any site to pay with my card. If there are fee's involved then I'll just keep it setup with my checking account.

 

 

Thanks again to everyone,

 

John

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