How to Legally Pay a Mortgage With a Credit Card

Pay your mortgage on time to prevent foreclosure.
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While paying your mortgage with your credit card can ease financial strain, it can be a risky pattern to fall into. The payment to the credit card company won’t be due until the next month, but there is a chance of getting caught in a financial cycle in which an ongoing shortage of cash forces you to use your credit card to pay your mortgage every month. If using a credit card to pay your mortgage works in your favor, however, there are several legal ways to go about it.

Step 1

Secure a cash advance from your credit card. Deposit the cash into your bank account and pay your mortgage with a personal check or cashier’s check. Cash advances can usually be obtained at an ATM machine or through the financial institution that issued the card. These types of advances often have fees attached to them. Inquire with your financial institution regarding any processing charges.

Step 2

Pay your mortgage through your credit card company’s online bill pay system. Many cards allow you to set up a payment system through their websites, with the cost of the bill being charged to your card. The systems are usually simple to set up and use, and they allow you to quickly pay one specific bill or all of your bills, including your mortgage, at the same time. Check with your financial institution on the specifics of its system.

Step 3

Write a convenience check to your mortgage company. Convenience checks are similar to checks from your checking account, but the charge is billed to your credit card. They offer a convenient way to pay creditors that do not accept credit cards, such as your mortgage lender. Verify the terms with your particular financial institution. These checks may come with additional fees. Also, be aware that it is easy to lose track of your spending when using convenience checks regularly.

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