How to Pay the Mortgage with a Credit Card for Free and Make Money Doing It Colin Robertson August 7, 2015 28 Comments. Thank you so much for the quick responses. Interesting to hear that a pool may devalue the house if thats been taken into account already, Ive seen at least two. Lets get right to it We will pay you to write things for us even if you have never written anything for anybody before. How Much Is the Obamacare Penalty What Youll Pay for Not Having Health Insurance How Much Is the Obamacare Penalty What Youll Pay for Not Having Health Insurance. How Much Money Does Cracked Com Pay' title='How Much Money Does Cracked Com Pay' />Credit Advice MarketWatch offers travel advice as well as news and articles on the latest workplace issues. That page is our onestop shop for signing up to write for Cracked. I clicked it six years ago and joined the Cracked Writers Workshop, along with a ton of other. Updated Weekly with Exclusive Videos Videos Stream on any Mobile Device All Videos are Available for Download with no DRM Sort by Model or Category and Mark your. How to Pay the Mortgage with a Credit Card for Free and Make Money Doing It. Back during the housing boom aka meltdown there were services that allowed homeowners to make their mortgage payments with a credit card. These services charged fees for the convenience, and looking back, they were probably only offered because people couldnt keep up with their mortgage payments. Unsurprisingly, these services seemed to disappear as quickly as they surfaced, but there are still options to pay the mortgage with a credit card each month free of charge. The difference today is that this methodidea is more about earning credit card points or cash back for paying your hefty mortgage payment, and not so much about simply paying it. How Much Money Does Cracked Com Pay' title='How Much Money Does Cracked Com Pay' />Let me preface this by saying it makes no sense to pay your mortgage with a credit card if you cant afford to pay it otherwise. The only purpose of this method is to earn points andor cash back as you would on other purchases made with a rewards credit card. Using Plastiq to Pay the Mortgage with a Credit Card. There are some other companies that allow you to pay rent or the mortgage with a credit card in exchange for a small transaction fee. By small fee, I mean something in the range of 2 3. Recently, a company called Plastiq had a special where they charged just 1. They normally charge 2. Unfortunately, most credit cards dont earn cash back or points at levels this high unless its in a bonus category. And these companies often arent in any bonus category whatsoever. The one exception is the old AT T Access More credit card, which earns 3. X per dollar on all online purchases. That seems to include services like Plastiq. This allows you to come out ahead. Even if you cant come out ahead dollar for dollar, it might be worth it for some people looking to meet a minimum spending requirement to earn an opening bonus, or just to buy some time on that monthly payment not recommended. For example, if you need to spend 5,0. And its only 1. Plastiq for the entire amount. Some other credit cards do earn 2 on all spending, either initially as a bonus or all the time, so its possible to come out slightly ahead or just slightly behind. Aside from making money doing this, some folks are happy just to earn lots of credit card points and miles by charging the pricey mortgage. Important note Plastiq currently only accepts Master. Card and Discover. They recently stopped allowing mortgage payments to be paid with a Visa card and American Express cards. That means youre limited to the other two major issuers, which still isnt bad. Apparently Visa told Plastiq they had to comply with a new directive that banned mortgage payments via Visa credit cards. Theyre basically closing a loophole because otherwise Visa would just allow it themselves. Its unclear if the others will follow, but its always a risk. For some reason, the ability to pay the mortgage with a credit card never seems to stick long term, and perhaps for good reason. If you do use Plastiq to pay the mortgage, youll need to enter the business name as it appears on your mortgage statement, along with the mailing address they list for mailed payments. Assuming they have an electronic option ACH available in their system, payment will be sent electronically. If not, theyll send a paper check on your behalf. If thats the case, be sure to give it a week or two to arrive. In terms of limits, the only payment limits are those associated with the credit card you use for payment. So if your card has a 5,0. Open Xml Format Sdk 2.0 more. This means even those with a large mortgage payment will likely be able to use this service, assuming they have decent credit limits. Ive yet to use Plastiq, but I may in the future if I need to meet a spending requirement to earn a bonus. Key Install Win 8 Pro X64 Key. Ive heard of people successfully paying a Wells Fargo mortgage and a Chase mortgage with this service. Use Tio to Pay the Mortgage with Discover, Master. Card, or Visa. Theres a similar service called Tio formerly Charge. Smart now owned by Pay. Pal that lets you make a mortgage payment with a credit card in a matter of seconds. You dont even need to sign up. All you have to do is select a mortgage company from the handy list on their website pictured above, then enter your loan number and payment amount. From there, simply click on the credit card icons and enter your credit card information. It will then display the fee, which tends to range between 2. Interestingly, they seem to charge varying fees based on payment amount and based on the mortgage company you select. It appears to be more expensive for smaller payments, such as 3 for 1,0. If youre okay with everything, you simply hit pay this bill and Tio will deliver your payment within 2 3 business days they say. The upside is that Tio is super fast, the downside is it can be more expensive than Plastiq, and they dont accept American Express for mortgage payments. However, they seem to still accept Visa. At first glance, I like Tio more than Plastiq, at least when it comes to paying the mortgage, because they have tons of mortgage companies already listed and ready to go. I dont like the idea of manually entering the wrong company or address when sending a very important payment. Plus, they list tons of major mortgage companies like Chase, Citi, Ditech, Nationstar, Ocwen, PNC, Quicken, Wells Fargo, and many more. Update Tio has also suspended service while its parent company Pay. Pal investigates some so called security vulnerabilities. So this method may or may not be available in the future once they sort it out. You Might Be Able to Pay Your Mortgage with American Express Serve. Perhaps the easiest method that used to work involved American Express Serve, which is referred to as a reloadable prepaid account. In reality, it basically works like an online bank account in that you can transferload money to it and then pay everyday bills or make purchases with the associated prepaid card. Lets focus on that paying bills part. Your mortgage is a bill and it must be paid each month until maturity, just like other recurring bills. But loan servicers dont give homeowners the option to pay with a credit card for good reason unlike most other bills. The Serve method entails loading the account with a credit card, and then using the funds to pay your mortgage. I suppose you can use a debit card as well if it earns rewards. The purpose of this is to get rewards on that large amount of money spent, so if the creditdebit card doesnt earn rewards, theres no point in doing this. And you need to pay off your credit card in full each month to avoid any interest or fees to offset the benefit of doing it to begin with. A couple warningsissues with this method You need to make sure your credit card issuer doesnt charge fees to load Serve American Express warns of this possibility on the website The max you can load with a credit or debit card each month is 1,0. The limit increases to 1,5. Serve with Softcard, formerly known as Isis Wallet You actually need to pay off the credit card charges to avoid interestfees. As noted above, you can load your Serve account with a credit card, but even American Express warns that you could be charged fees by your card issuer for doing so. Ive used a Chase credit card and there was no fee or issue. It just showed up as a standard purchase. How Does Debt Affect People This is a common question for anyone who is thinking about borrowing money. The reason for this is that debt can have a major impact on a the life of a person. It can determine whether or not someone succeeds in life or struggles all the way through it. Debt is the amount of money any person owes. They go into debt when they borrow money in the present while promising to pay it off in the future. There are a couple of different variations of debt, and they affect people in different ways. Having no debt can be just as bad as having too much. When people never create any debt in their lives, they may have a hard time getting approved for any loans. Banks do not like to loan out money when they can not see how well that person pays back their debt. When someone wants to borrow money from the bank and does not have any credit, they will most likely need a cosigner. If the person getting the loan can not pay off the loan, then the cosigner must take over the payments. There is also good debt. When someone borrows money that they are able to pay back within a reasonable amount of time, this reflects very well on their credit score. Banks and creditors will see that they have a good history of repaying their debt and will be much more likely to give them a loan. It will be easier for them to buy a house, cars, and many other things that they want in their lives. The most commonly thought of debt is bad debt. This occurs when a person borrows money that they can not, or do not, pay back. While many people may struggle trying to repay what they owe, sometimes it proves too much for the income they have. When this occurs, they may have no choice but to file for bankruptcy. This will erase their debt, but the bankruptcy will stay on their credit report for up to ten years. Many might also get help through credit counseling agencies, but even though this will help reduce the amount of debt they pay each month, using credit counseling will reflect negatively on your credit report. Debt is a big part of the lives of many people. It affects a person in a lot ways and often determines how they will be able to live their lives. Too little or too much debt can make it hard to get by. The best thing for anyone to do is always borrow money they are sure they can repay.