How to Pay Mortgage With Credit Card
Chances are your mortgage is your most costly payment of the month. Odds are budgeting would be a lot easier if you could use your credit card to pay this hefty expense. While mortgage companies don’t allow credit card payments, it’s possible to pay mortgage with credit card.
Steps to Paying Mortgage with Credit Card
Paying mortgage with a credit card is easy when you know where to perform this transaction. Plastiq provides the only way to pay mortgage with credit card. The process is straightforward, easy and convenient. The mortgage can be paid on a one-time basis or every month. Setting up credit card payments takes just minutes online.
Benefits of Paying Mortgage with Credit Card
In addition to being easy to set up, paying your mortgage with a credit card helps you better manage your budget. For instance, if you get paid mid-month and your mortgage is due at the beginning of the month, paying with a credit card allows you to pay on time so that you avoid a late charge.
Most late charges range from 4-5 percent of the mortgage payment. This is substantially more than the fees charged when you pay mortgage with credit card.
Paying your mortgage with a credit card also allows you to benefit from earning rewards points. This could mean that you earn cash back or rack up airline miles that allow you to go on a dream vacation.
How much will my mortgage payment be?
There is a fee to enjoy the convenience of paying your mortgage with a credit card. That fee is a result of the fact that Plastiq is charged transaction fees for every payment. The company negotiates industry-low rates for the service that are then passed on to you. Keep in mind that if you use a reward-based credit card, those perks generally offset the fee.
Is it possible to pay mortgage with American Express?
You may want to pay mortgage with American Express. Unfortunately, at this time mortgage payments aren’t permitted with this card issuer. It’s also not currently possible to pay mortgage with PayPal.
When you pay mortgage with credit card, you enjoy a variety of benefits. This seamless transaction allows you to quickly and easily pay in a way that keeps your budget on an even keel. You can also reap the added reward of earning points or mileage on your credit card.