Not AS awesome, granted. But you may find that not only is the fee tax deductable, you also earn points on the fee. Slightly more awesome.
Paying mortgage with credit card, can you?
- Thread starter Propagate
- Start date
There's legislative issues when paying credit with credit. You can't pay debt by getting into more debt consumer credit code doesn't allow it, under responsible lending.
just remember that everytime you use your credit card for anything, someone has to pay the up to 3% in fees,
people seem to forget or not understand this,
Cheap items, it doesnt really matter but if you were paying $500 per week in rent, thats up to $15 per week/$60 per month/$750 per year
im surprised anyone can pay rent by credit card,
imagine the frequent flyer miles, you;d be getting a free trip overseas every year courtesy of your land lord
people seem to forget or not understand this,
Cheap items, it doesnt really matter but if you were paying $500 per week in rent, thats up to $15 per week/$60 per month/$750 per year
im surprised anyone can pay rent by credit card,
imagine the frequent flyer miles, you;d be getting a free trip overseas every year courtesy of your land lord
agree, I think in todays irreponsbile consumers and the "its never my fault" society/generation, its a recipe for disaster, however, I am very surprised that the ATO would offer credit card payment
Hi,
I just searched for threads and found this old one regarding paying your mortgage(s) with a credit card to get points. I would pay off the full amount each month so no interest would be payable on the card.
I heard that Investec offers this service but they only offer products to accountants and doctors.
Has anyone found a way to pay the monthly mortgage with a credit card? It would be great to get a few Bunnings gift cards each year just for paying the mortgage!!
Many thanks
I just searched for threads and found this old one regarding paying your mortgage(s) with a credit card to get points. I would pay off the full amount each month so no interest would be payable on the card.
I heard that Investec offers this service but they only offer products to accountants and doctors.
Has anyone found a way to pay the monthly mortgage with a credit card? It would be great to get a few Bunnings gift cards each year just for paying the mortgage!!
Many thanks
This is news to me. Can you cite any legilsation?
It is common for debt to be paid for by borrowing. In fact there are some tax publications about it.
I forgot all about this thread, needless to say, when I checked further at the time I wasn't able to pay mortgage via the credit card.
However, last year we refinanced with Macquarie. The loan part of the package came with a deposit card for paying extra into the loan. I'm almost certain this card has BPay details on it. I'll check when I get home tonight.
I doubt they let me cancel the direct debit and manually pay the mortgage via Bpay every month, but I'm tipping I should be able to make any over-payments into it via my Qantas CC and BPay.
However, last year we refinanced with Macquarie. The loan part of the package came with a deposit card for paying extra into the loan. I'm almost certain this card has BPay details on it. I'll check when I get home tonight.
I doubt they let me cancel the direct debit and manually pay the mortgage via Bpay every month, but I'm tipping I should be able to make any over-payments into it via my Qantas CC and BPay.
Macquarie accounts do allow payments using BPay - however not from a credit card account. I tested it just to confirm.
The problem you are hitting up against is for it to work someone will need to be paying the credit card merchant fee. Your bank certainly doesn't want to be doing it.
Regards,
Jason
