Question
I am now ready to pay off my house -- approx $38000 -- tax advisor says it is smarter for me to pay off the house instead of holding cash...
anyway...my motgage company will not accept credit cards...so I will not earn TY points...how can I go about and earn some pts for this tranction?
open to all suggestions....
Answer
Find some mom and pop convenience store that will allow you to pay for Money Orders by CC.
Answer
Definately not worth the 2.8% fee ,IMHO.
But I was not sure if you were aware of this option.
www.Payanythingonline.com
It's a fairly small outfit.
perhaps you can negociate a discount on a singular $38,000- transaction.
BTW, off topic more importantly I'd switch financial advisors if I were you.
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BTW, off topic more importantly I'd switch financial advisors if I were you.
fairly presumptuous, unless you know something about the OP that we don't. mortgage rate and structure? age? credit score and availability of credit? risk tolerance? other assets? wouldn't you say those factors might influence one's decision?
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fairly presumptuous, unless you know something about the OP that we don't. mortgage rate and structure? age? credit score and availability of credit? risk tolerance? other assets? wouldn't you say those factors might influence one's decision?
thank you...did not want to say much...
Answer
lets just say You have a Credit Card with that much avail
I would see if you could received point for a Balance transfer, if you do transfer the funds from the credit card to Checking acct and do it that way
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lets just say You have a Credit Card with that much avail
I would see if you could received point for a Balance transfer, if you do transfer the funds from the credit card to Checking acct and do it that way
My chairman card has a 32000 limit with unlimited spending...you have to undderstand how Citi does their unlimited line of credit...
no cannot transfer points from balance transferz/convenieince checks...
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I assume that the 2.8% does not appeal to you?
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First I'd call the mortgage broker directly and see if they will take CC, that would make it easy :D
Otherwise not sure what kind of other options are out there. That site is interesting, they take VISA/MC.
My mother is going to talk to the brokers of her new condo about paying with her AMEX (in full). I talked to AMEX (PLAT) account services, and they said you just have to wire the money first, and then can charge whatever you want on the card.
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When you're paying OFF a mortgage, they have little incentive to take the merchant processing fee hit on the transaction... so I'm guessing you won't find a cost-effective way to get points out of this.
I got nothing out of paying off my mortgage (other than being quite happy at how much my property had appreciated over 3 years in the Boston area! Certainly much better than a few points, in this case. :))
Very different than originating a loan where they know they're going to be gouging money out of you, and therefore much happier to lose a few dollars so you can get some points. :)
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I assume that the 2.8% does not appeal to you?
not really...since it would end up costing me 1098 in finanace charges...I will try to negotiate with these people, but I seriously doubt it....
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Hi All,
I've been spending some time on this site for a few weeks and learning a lot from all of you.
There was an article in the Wall Street Journal about 2-3 weeks ago about companies that accept credit card payments for a wide variety of service providers and they mentioned yodlee.com.
I havent used the service yet, but I am very interested since I'd like to pay my monthly mortgage payment via CC and will be checking into this option. I dont know if they will accept such a large amount but may be worth checking out
DB
Answer
Hi All,
I've been spending some time on this site for a few weeks and learning a lot from all of you.
There was an article in the Wall Street Journal about 2-3 weeks ago about companies that accept credit card payments for a wide variety of service providers and they mentioned yodlee.com.
I havent used the service yet, but I am very interested since I'd like to pay my monthly mortgage payment via CC and will be checking into this option. I dont know if they will accept such a large amount but may be worth checking out
DB
Welcome to FT !!!
This is for businesses and is not a c onsumer application...thanks for the help...
Answer
Thanks anaggie. I thought yodlee was open for consumers as well. I think you can use their services if you are a client of any of the companies listed here http://corporate.yodlee.com/customers/consumers.html but I havent had the time to try the one company that I am a client of.
My situation is simpler than yours - I just want to pay my mortgage via my credit card every month. Any suggestions?
Thanks,
DB
Welcome to FT !!!
This is for businesses and is not a c onsumer application...thanks for the help...
Answer
Thanks anaggie. I thought yodlee was open for consumers as well. I think you can use their services if you are a client of any of the companies listed here http://corporate.yodlee.com/customers/consumers.html but I havent had the time to try the one company that I am a client of.
My situation is simpler than yours - I just want to pay my mortgage via my credit card every month. Any suggestions?
Thanks,
DB
I asked my mortgage company (CitiMortgage) and they refused, even if it weren't a Citi credit card. Oh well, at least I'm earning a few hundred TY Points for holding a Citi Everything Counts Account.
Answer
A couple of months ago Bank Of America had a special on their US Airways card where there was no fee, and you got miles.
Maybe if you wait and keep an eye out for something similar.