Paying Your Mortgage with a Rewards Credit Card

Posted by: Lisa N. | Dec 28,2007

If you have a rewards credit card you might be wondering if you can pay your mortgage using the card. The answer is, maybe. In the past if you had a rewards credit card and a mortgage you couldn’t use the card to pay for your home loan. However, as consumer demand rises, some credit card companies are allowing you to use a rewards credit card to pay for your home loan.

 

American Express allows customers to pay for their mortgage using their Amex- as long as you have a mortgage with their preferred lender. American Express started offering the service in spring, after conducting independent consumer research that showed (surprise, surprise) people want to use their rewards cards to pay their mortgage.

 

Using your American Express rewards credit card to pay for your Mortgage comes with a hefty one-time fee: you’ll have to pay the lender $395 to enroll in the mortgage rewards program at closing. Home loan payments are automatically charged to the credit card each month. Like a lot of rewards programs, the one designed for mortgages includes additional special offers including discounts at merchants like Brookstone and Linens ‘n’ Things and more. 

 

The mortgage rewards program is offered to all American Express cardholders with an eligible new mortgage or a home refinance loan with the credit card issuer’s preferred lender.

 

 

 

 

Sponsored Resources Ads by Google