Any advice on how to do this with resorting to reloads or BB.
My mortgage company is Franklin American and is not listed as a payee on Charge Smart. This is for rewards and to meet spending reqs, not to cover a payment I am short on.
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snork615
Senior Member
posted: Jan. 29, 2013 @ 12:36p
Get a zero percent cash advance on credit card check special offer. Pay 3-5% transaction charge to card company. Postpone the day of reckoning by paying debt with more debt and hope that something will turn up.
snork615 said: Get a zero percent cash advance on credit card check special offer. Pay 3-5% transaction charge to card company. Postpone the day of reckoning by paying debt with more debt and hope that something will turn up.
"This is for rewards and to meet spending reqs, not to cover a payment I am short on."
Well kind of a moot point since I can't use Chargesmart anyway, but honestly I think using prepaids and bluebird is a temporary solution since there seems to be a lot of push back on it recently. Was hoping there might be another way altogether, or another service like chargesmart that has a wider variety of payees.
tjguitar85
Senior Member
posted: Jan. 29, 2013 @ 1:18p
How could it ever be worth the fees?
gruntwork
Ancient Member
posted: Jan. 29, 2013 @ 1:27p
I have successfully paid using Williampaid once. Haven't tried after that, it took 10 business days to post. I think they mail a check unlike Chargesmart which is electronic. Not sure what recourse you might have if the check gets lost in the mail.
MilleniumBuc
Silly Member
posted: Jan. 29, 2013 @ 1:56p
Has anyone ever tried the Wel Far Go Bill Pay? When I pay my bills from my checking account, it always shows the credit card as an option for funding the payment.
dbond79
Senior Member
posted: Jan. 29, 2013 @ 3:26p
wvtalbot said: ...but honestly I think using prepaids and bluebird is a temporary solution since there seems to be a lot of push back on it recently. Why not enjoy it while it lasts? Every spend requirement met, while paying bills you had to pay anyway, is a win.
EugeneV
Ancient Member
posted: Jan. 29, 2013 @ 4:07p
Some HOAs and mortgage lenders accept credit and/or debit cards directly, although it is not common. It is an industry approved for PINless debit, and a small number of debit cards offer rewards for such transactions (PerkStreet does NOT).
dbond79 said: wvtalbot said: ...but honestly I think using prepaids and bluebird is a temporary solution since there seems to be a lot of push back on it recently. Why not enjoy it while it lasts? Every spend requirement met, while paying bills you had to pay anyway, is a win.
I will enjoy it while it lasts but I really would like to be proactive in this department instead of being reactive when the other foot drops.
dougtaylor1
Ancient Member
posted: Jan. 31, 2013 @ 4:05p
MilleniumBuc said: Has anyone ever tried the Wel Far Go Bill Pay? When I pay my bills from my checking account, it always shows the credit card as an option for funding the payment.
Credit card does not show up as an option on my WF Bill Pay.
dougtaylor1
Ancient Member
posted: Jan. 31, 2013 @ 4:06p
MilleniumBuc said: Has anyone ever tried the Wel Far Go Bill Pay? When I pay my bills from my checking account, it always shows the credit card as an option for funding the payment.
Sorry, did not know it was posted, and preview posts it again.
bbmak
Member
posted: Jan. 31, 2013 @ 4:12p
I never know you can pay mortgage directly with a CC, but I know company that do that, but they charge a fee for it.
yOyOYoo
Senior Member
posted: Jan. 31, 2013 @ 6:37p
SUCKISSTAPLES said: Bluebird or other prepaid card bill pay
This is your best option.
nsdp
Dismembered Member
posted: Jan. 31, 2013 @ 7:58p
You do this and get rewards you fall outside the IRS guidance on what is nontaxable perks from your credit card. Cash Back or points on a tax deductable transaction are a reduction in the amount of interest you paid. Good way to attract an audit.
Glacierwolf
Dismembered Member
posted: Jan. 31, 2013 @ 8:12p
MilleniumBuc said: Has anyone ever tried the Wel Far Go Bill Pay? When I pay my bills from my checking account, it always shows the credit card as an option for funding the payment.
When we first converted to WF and they sent out the info on Bill Pay, it said that online bill payments using a CC were treated as cash advance transactions and subject to the CA interest rates effective from the moment the payment goes through. It's possible it's changed but I haven't seen a recent TOS from them.
glxpass
Senior Member - 5K
posted: Jan. 31, 2013 @ 9:32p
nsdp said: You do this and get rewards you fall outside the IRS guidance on what is nontaxable perks from your credit card. Cash Back or points on a tax deductable transaction are a reduction in the amount of interest you paid. Good way to attract an audit. Before blindly accepting the above opinion, do your own due diligence. Consult with a trusted tax advisor if necessary. Review this Private Letter Ruling:
While not legal precedent, most tax professionals agree that PLR's are an indication of how the IRS will treat similar situations. Note that this doesn't constitute legal or tax advice.
MilleniumBuc
Silly Member
posted: Feb. 1, 2013 @ 9:43a
Glacierwolf said: MilleniumBuc said: Has anyone ever tried the Wel Far Go Bill Pay? When I pay my bills from my checking account, it always shows the credit card as an option for funding the payment.
When we first converted to WF and they sent out the info on Bill Pay, it said that online bill payments using a CC were treated as cash advance transactions and subject to the CA interest rates effective from the moment the payment goes through. It's possible it's changed but I haven't seen a recent TOS from them.
Thanks. I never thought about using it to pay something until I saw this thread. Thanks for posting the original (and most likely current) TOS.
MilleniumBuc
Silly Member
posted: Feb. 1, 2013 @ 9:43a
Lets say the APR is 29% for cash advances and charged on the same day, at 1500 for a mortgage payment, you would get charged about 1.20 per day. You can then pay Wells Fargo CC directly from checking and it usually posts within 1 day. You would get 15 for 1% for a fee of 1.20 to 2.40 depending on float. Is there any other fee WF would charge?
makinbutter
Nerdy Member
posted: Feb. 1, 2013 @ 9:52a
MilleniumBuc said: Lets say the APR is 29% for cash advances and charged on the same day, at 1500 for a mortgage payment, you would get charged about 1.20 per day. You can then pay Wells Fargo CC directly from checking and it usually posts within 1 day. You would get 15 for 1% for a fee of 1.20 to 2.40 depending on float. Is there any other fee WF would charge?
are cash advances reward eligible?
MilleniumBuc
Silly Member
posted: Feb. 1, 2013 @ 9:57a
hebron1427 said: MilleniumBuc said: Lets say the APR is 29% for cash advances and charged on the same day, at 1500 for a mortgage payment, you would get charged about 1.20 per day. You can then pay Wells Fargo CC directly from checking and it usually posts within 1 day. You would get 15 for 1% for a fee of 1.20 to 2.40 depending on float. Is there any other fee WF would charge?
are cash advances reward eligible?
Don't know. I'm guessing it probably is not eligible. Never tried one.
Oh well. So much for that theory.
EugeneV
Ancient Member
posted: Feb. 1, 2013 @ 1:48p
Of course they are not. Good old Citi Dividend used to give 5 reward dollars per cash advance, but with 3-4%, besides daily interest, you are looking at $45-$60 for $1500 payment. Still wanna try that?
CowbellMaster
Senior Member
posted: Feb. 1, 2013 @ 1:57p
Am I the only one that got a chubby from the title of this thread?
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