@Skymogul wrote:
@Anonymous wrote:I'm actually surprised more mortgage providers don't accept credit cards. I get it that there are fees associated with these transactions, but if they pass the fees on to the account holder what's the big deal?
It's a sign you're in a debt spiral. If you need to make a mortgage payment on a credit card, you've already shifted all possible household expenses to credit just in order to make your debt payments. If you "need" to do this, you are in over your head.
LOL..well I'm in some serious trouble.
I use it to boost my CC usage and put some spending traffic through my CC's. It has really helped with CLI's IMO. Plus I don't have to spend out of my budget in order to show usage.
@Anonymous wrote:
Thanks for all the replies. It looks like the process will involve far too much. I wanted to just be able to use autopay but it's not an option.
I don't need to use my CC to pay my mortgage, but I would have loved to have the additional $1000 a year in cash back it would have given me 😀
You pay $66,000 in mortgage payments in a year?
If you paid your mortgage through a website, you are looking at about $1,320 in fees for the year. But hey, it's $1,000 cash back, right? 
Full disclosure I have paid at least half a dozen mortgage payments with credit cards, so I do not discourage anyone from doing so, just be clear how much you will pay in fees to do so, and make the conscious choice that it is OK to pay the fees.
@Anonymous wrote:
Closer to $51,000 when I include insurance & HOA dues. However, as I stated in my previous post, it would be too much of a hassle even before considering any fees that might be assessed if I paid with a CC.
My house is paid off, but I assume like many others that there will be fees that go over what you would get back in rewards. I could put my taxes on my CC but I would lose $4 on my CDC by doing so.
But what I notice that many do not do is pay their insurance via CC and roll it into their payments. (Easier to deal with.) I am with Amica and I get a break by autopay each month, which I gladly pay with my CDC. I will take my free $30/year in cash back for a bill I have to pay anyway.
Not sure if your bank would even let you without boosting your interest rate, but worth checking into.
@Gmood1 wrote:
@Skymogul wrote:
@Anonymous wrote:I'm actually surprised more mortgage providers don't accept credit cards. I get it that there are fees associated with these transactions, but if they pass the fees on to the account holder what's the big deal?
It's a sign you're in a debt spiral. If you need to make a mortgage payment on a credit card, you've already shifted all possible household expenses to credit just in order to make your debt payments. If you "need" to do this, you are in over your head.
LOL..well I'm in some serious trouble.
I use it to boost my CC usage and put some spending traffic through my CC's. It has really helped with CLI's IMO. Plus I don't have to spend out of my budget in order to show usage.
+100
@CreditInspired wrote:
@Gmood1 wrote:
@Skymogul wrote:
@Anonymous wrote:I'm actually surprised more mortgage providers don't accept credit cards. I get it that there are fees associated with these transactions, but if they pass the fees on to the account holder what's the big deal?
It's a sign you're in a debt spiral. If you need to make a mortgage payment on a credit card, you've already shifted all possible household expenses to credit just in order to make your debt payments. If you "need" to do this, you are in over your head.
LOL..well I'm in some serious trouble.
I use it to boost my CC usage and put some spending traffic through my CC's. It has really helped with CLI's IMO. Plus I don't have to spend out of my budget in order to show usage.
+100
Except that you are spending outside your budget. A mortgage payment should be expected to be a cash payment directly from a checking or savings account, with cash on hand, with no extra fees involved. That is ( should be ) your basis for your budget.
By using a credit card, you introduce a non-necessary fee to complete that transaction, that fee is spending outside your budget.
Now, on a decent rewards card, it usually works out to a wash; the rewards compensate for some of, may be almost equal to, the fee for paying the mortgage. So it looks like one is building rewards, but to be honest it's just pre-paying the rewards you get back later.
Again, my point is not to say "do not ever pay a mortgage with a credit card" since I have done it numerous times. The point is to be clear about the fees involved and understand that you are paying extra for this service.
I have no extra cost incurred while paying with a CC. The service cost me 1.75% and I use a 2% cash back card( Citi DC) for the transaction. It doesn't cost me a dime to do it. So it's not outside of my budget.
Some folks were using the Citi AT&T for 3x or the Chase C$R. Both have been recoded not to give 3x points. For some reason they were processing as travel expenses. I'm not sure if Visa works with the service anymore.