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

Valued Contributor

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

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.

Message 11 of 12
Valued Contributor

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

Learning from my past and rebuilding..

BK discharged 1/10/17
scores: EQ 659 | TU 630 | EX 659

QS 3.8K | WF 500 | Cabela's 3k | ACU 500 |

Message 12 of 12