Getting Credit Card Points from Mortgage?

Non-investing personal finance issues including insurance, credit, real estate, taxes, employment and legal issues such as trusts and wills
Post Reply
Topic Author
Chlotron
Posts: 2
Joined: Sun Nov 17, 2019 2:01 pm

Getting Credit Card Points from Mortgage?

Post by Chlotron » Sun Nov 17, 2019 2:12 pm

Does anyone know a way to get credit card points by paying a mortgage where the rewards are greater than the fees? I have a 2% cash back Fidelity VISA and my mortgage is $4,000 per month.

User avatar
whodidntante
Posts: 6685
Joined: Thu Jan 21, 2016 11:11 pm
Location: outside the echo chamber

Re: Getting Credit Card Points from Mortgage?

Post by whodidntante » Sun Nov 17, 2019 3:04 pm

Visa does not allow mortgage payments other than by cash advance. However, you can do manufactured spending and use the cash generated to pay your mortgage. If this interests you, go read the flyer talk manufactured spending forum. You might want to pop a bowl of popcorn first.

I've been able to use Plastiq promos to earn either reduced rates that are less than the rewards rate, or earn fee-free dollars that make the total fee less than the rewards rate. I pay my car loan and my mortgage with Plastiq whenever it is profitable to do so. However, you must use a Mastercard or Discover card for that, because as I said already, Visa does not allow mortgage payments other than by cash advance. And neither does American Express.

User avatar
fortfun
Posts: 2458
Joined: Tue Apr 19, 2016 7:31 pm

Re: Getting Credit Card Points from Mortgage?

Post by fortfun » Sun Nov 17, 2019 4:07 pm

Chlotron wrote:
Sun Nov 17, 2019 2:12 pm
Does anyone know a way to get credit card points by paying a mortgage where the rewards are greater than the fees? I have a 2% cash back Fidelity VISA and my mortgage is $4,000 per month.
I don't waste much time on cash back. I find the sign up bonuses are much more lucrative.

Nummerkins
Posts: 358
Joined: Tue Jun 01, 2010 4:41 pm

Re: Getting Credit Card Points from Mortgage?

Post by Nummerkins » Sun Nov 17, 2019 5:28 pm

Depends how much cashback you get. When I was aggressively paying off my mortgage there was a Chase card paying a flat 5% cashback as well as a Citicard doing the same. I used a site that charged 2.3% I think for mortgage payments and dumped as much mortgage and regular spending as I could onto it. Between that and dollar coins from the Mint I was sometimes getting close to $1000 a month or more in cashback checks. Those were the days.

I don't think the site I used for mortgage payments exists anymore but there is Plastiq that charges 2.5%.

Post Reply