Paying for a big-ticket item such as a mortgage can get you to that bonus a lot quicker than buying lunch every day can.īut most mortgage lenders won’t accept credit cards for a few reasons - they could lead to more defaults on mortgages by borrowers, and lenders don’t want to incur the 1-2 percent credit card fees for processing the payments, says Jonathan Duong, a certified financial planner and president of Wealth Engineers. The credit card company may require you to spend $3,000 within the first three months to get the bonus points. While spending $1 can earn you one or two rewards points with most credit cards, enrolling as a new customer can earn you 35,000 to 50,000 bonus points at one time if you spend a certain amount of money within the first few months of having the card. And despite the When to use a credit cardĪ sign-up bonus may be the best time to use a credit card to make a mortgage payment. Getting your lender to take your credit card, however, isn’t that easy.
If you have a rewards credit card, then charging your monthly mortgage payments to a credit card can be a big enough expense to help you quickly earn enough points and miles to travel for free. ICB Solutions | NMLS #491986 ( Close Modal Mortgage products are not offered directly on the website and if you are connected to a lender through, specific terms and conditions from that lender will apply.
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