Browse Forums Home Finance 1 Jun 02, 2009 11:19 am Im wondering if anyone knows of a bank that allows you to pay your repayments with your credit card? Just thinking of all those award points..... I know this is probably a silly question! Re: Silly Ques? -Can u make mortgage repayments w/ credit card? 2Jun 02, 2009 1:02 pm Unsure - my bank only allows me to direct deposit the money as far as I am aware. Any award points you would earn would be far outweighed by paying interest on your credit card (unless of course you paid it off in your interest free period) - but I'm sure you are aware of that! Regardless I'd stay well clear of that whole idea you've had, cause yeah, it is a little silly ..... Renovating a post-war house in Brisbane | On the first rung of the property ladder Re: Silly Ques? -Can u make mortgage repayments w/ credit card? 3Jun 02, 2009 2:00 pm I have no idea If thats possible or not!!! Its seems like a good idea to gain points as long as you already have the cash to put straight back on the card. Surely, the banks would have thought that a clever cookie like you would think up that scam!!! Living in Caloundra Thread****** Lovin my house all finished!!! Now tackling the HUGE task of the Garden- viewtopic.php?f=31&t=14782 Re: Silly Ques? -Can u make mortgage repayments w/ credit card? 4Jun 02, 2009 2:03 pm More then likely it wouldn't be able to happen as the transfer would be classified as a cash advance. Very few banks / CU have the facility to swipe a card as a purchase - any swiping goes through as a cash advance. Cash advances do not normally accrue reward points. If you use the Bank's money in the advance then you get charged interest from day 1 - if however your card is actually in credit and you use your money then you don't get charged interest. You also could be charged a cash advance fee. Some things are worth waiting for. Re: Silly Ques? -Can u make mortgage repayments w/ credit card? 5Jun 02, 2009 4:20 pm As kyton says, you can't repay credit with credit. Nice try! Re: Silly Ques? -Can u make mortgage repayments w/ credit card? 6Jun 02, 2009 8:16 pm I know But it was worth the thought hey? Re: Silly Ques? -Can u make mortgage repayments w/ credit card? 7Jun 03, 2009 1:16 am Over here in Singapore they have an investment house that lets you purchase unit trusts with credit cards. Strangest thing I've heard of. You can also pay most bills here with credit card. In fact the card companies fight for the privilege by offering discounts. And what's more, here they PAY you to apply for a credit card. Typically around $20-$30, or some other gimmick like pizza vouchers. And they don't charge an annual fee. I'm going to miss this country when I head back to Australia. Metricon Riva 33 - http://herlihy-riva.blogspot.com Site start 15/03/2010 - Handover 23/12/2010 9 months and 8 days (284 calendar days) from site start to handover I posted the floorplan on Houzz.com forum and got some really good ideas and advice from people there. Then we reached out to a couple of renovation companies and one… 5 10093 Not sure who you're building with, but I moved in recently to a 11month scheduled, 8 month actual build on the South coast/Illawarra NSW 3 5911 at most it will have a short lintel which could be moved up just below the ceiling or even above. Above means you need to patch the cornice and might need to deal with… 2 61370 |