Comments on: Pay Mortgage with Credit Card For Free

By: Alex

Alex — Sun, 29 Aug 2010 14:27:40 +0000

I have been using this service as well for several years now. It offers convenience, flexibility and of course float. I can accumulate points in all of the other credit cards and then pay it all at once.

The service is being eliminated and I cant seem to find another company that does this without charging a fee, and this has me very frustrated. Apparently, bank of america bought FIA card services, the cards that have this ability.

Well its life I guess….

By: Rob

Rob — Sun, 01 Aug 2010 15:59:33 +0000

I’ve been using this set-up for awhile, paying my american express bill and auto-loan payments with my BoA MasterCard. I do this to avoid monitoring my checking account balance with each paid bill, I just check it once a month, when I pay my BoA MasterCard.

Unfortunately it appears BoA is eliminating that option this year. Earlier this week I received a letter from BoA saying “As of September 30, 2010, customers will no longer be able to use their Bank of America credit card to make or schedule payments to merchants through our online Bill Pay Service”

So I can continue to pay bills online, but I must pay those bills with my BoA checking account.

I tried calling them to find out why they made the change, but just got passed around from rep to rep and nobody really seemed to know why it was occurring.

Does anyone know any other credit card that offer this service?

By: TFB

TFB — Fri, 30 Jul 2010 15:49:47 +0000

Scott – I heard FIA (owned by B of A) does not allow paying bills owed to B of A from the card. Paying credit cards or mortgage from other banks is OK.

By: Scott

Scott — Fri, 30 Jul 2010 14:56:05 +0000

Just recently got my FIA Fidelity Amex and started using bill pay. I want to make my BofA mortgage payment using bill pay but I can’s find BofA under possible bill pay merchants. Help?

By: Wonderer

Wonderer — Tue, 08 Jun 2010 05:46:33 +0000

“If you have upgraded Bill Pay Choice to pay bills using your credit card, all payments funded with your credit card are Out-of-Network AND WILL NOT EARN POINTS. unless there is an In-Network logo In-Network next to the make a payment button.”

By: Deirdre

Deirdre — Sat, 05 Jun 2010 15:32:32 +0000

I think this is a great idea for those of us that have AMEX charge cards. You can’t get into trouble since the bill is due in full every month, but you get the benefit of the rewards points. I am sorry to say that my mortgage lender (SunTrust) is not set-up to take credit cards.

By: Liran

Liran — Wed, 05 May 2010 04:00:23 +0000

Here’s another thing Paul – think about it this way.

Let’s say you could pause all your payments by a month, interest free…just on inflation alone you’d be saving a tremendous amount because by the time you paid it all off the money would probably only be worth half, if that. This is a great deal – now if only there was a way to get some rewards out of this…

By: Tyler E

Tyler E — Mon, 03 May 2010 17:28:03 +0000

To Paul K-

Think outside of the box a little, man. If you get free float that means you can put that money into a CD or money market account where you can earn interest. Not everyone who would take advantage of this would use the money unwisely. If they do, then they should get what’s coming to them. However your comments are pretty narrow-minded.

By: Paul K

Paul K — Fri, 02 Apr 2010 13:17:24 +0000

“When every mortgage payment is deferred by a month, it’s equivalent to having one monthly payment in my pocket as an interest-free loan forever.”

Wow, all that creativity in your head and you are still hopelessly in debt!

If I set aside my lunch and wait until dinner-time to eat it – was it free? No.

People who buy into this debt juggling act really need help. Perhaps there will soon be a pill for the condition.

By: Lin

Lin — Mon, 29 Mar 2010 01:00:34 +0000

Sergey,

So….did it work for February?