Pay your mortgage with a credit card

Looks a little shady. I just don't understand. Where are the loops I am supposed to jump through?

My lender accepted the payment! It worked great, plus I got frequent flier miles. There is a small fee, but totally worth it for me since I got to leverage my cash.

and why dont you tell us HOW MUCH exactly is the "small fee" you mention??

OP doesn't pay his taxes. Considering he breaks the law, this is probably a scam.

Thats $20 more than officialpayments.com

You can charge stuff, like property taxes, and it will be cheaper than using this to pay the mortgage....

oh wait you dont pay taxes

I actually asked about officialpayments.com, and they have the official business method patent on property taxes, and CardIt has the business method patent on revolving mortgage debts and auto craft revolving debt.

It's a scam, why else would they hide their processing fees

notanormalgent said: Actually, you're right, the fee was 2.49% + $20 transaction. I used it on Friday, and it went through today.

Doesn't sound like a wise decision to me. Let's say your mortgage payment was $1000. You paid $20 + $24.90 (total $44.90 in fees) just to get 1000 miles (maybe 2000 if they are doubled) and you can leverage your $1000 for one month - are you going to make back the $44.90 in one month off of that $1000? I doubt it.

As far as the miles go, let's say you do this for 12 months at double miles, then you'll have 24,000 miles - just 1,000 miles short of getting a domestic ticket. But you've just paid $538.80 ($44.90 x 12) to get those miles. Probably could buy a ticket for less.

I'm not buying into this scheme. And I'll be waiting for your message on what to do when your CC goes into collections because you charged your mortgage payments to your CC card. Good luck with that.

But wait!! I see a great plan here. I'll just charge my entire mortgage using this service. I owe about $65k. So that's about $1640 in fees. Then I will do an AOR to transfer this to 0% credit cards. I may have to do this in stages because I don't have a CC with a $65K limit. I will call this my MOR-AOR. Plus I will have enough miles to get a business class international ticket so I can leave the country and bail on the whole thing after I sell the house and pocket the cash. Oh, this is brilliant!! I have to get moving on this right away. Not!

Sounds like this is your company and you're trying to get some free promo on FW.

Could you imagine if banks let people pay their mortgage on a credit card?

Busted!!

Hi FatWallet Members,

One of our customers alerted us to this thread and we felt it worthwhile to respond. Our reputation as a new financial service is of utmost importance to us. I am co-founder of the business and neither I nor anyone employed by us have previously been a member of this forum prior to my joining. We do however plan to actively participate in blogs and forums as demonstrated by the existance of one of our employee's profile on ActiveRain. I spoke with him and he has not posted on this site.

Our website launched last week and I am happy someone on FatWallet has found our service useful. I understand that the price structure may seem expensive to many of you although we feel we've done the appropriate market research to address the value of what we provide.

Our service is backed by industry leading partners and Cardit.com holds a website identity assurance warranty of $10,000 through Comodo. This means that you are insured for up to $10,000 when relying on the information provided by Comodo's IdAuthority on our site.

http://www.comodo.com/products/search_ida.asp

There are also no hidden processing fees. We clearly explain the fee structure for users making a payment with our service before any transactions are completed.

I encourage anyone with concerns over the legitimacy of our business to contact us directly; our information is below.

Regards,

Philip Mikal
CardIt, LLC
support (at) cardit (dot) com

pmikal said: Hi FatWallet Members,

One of our customers alerted us to this thread and we felt it worthwhile to respond. Our reputation as a new financial service is of utmost importance to us. I am co-founder of the business and neither I nor anyone employed by us have previously been a member of this forum prior to my joining. We do however plan to actively participate in blogs and forums as demonstrated by the existance of one of our employee's profile on ActiveRain. I spoke with him and he has not posted on this site.

Our website launched last week and I am happy someone on FatWallet has found our service useful. I understand that the price structure may seem expensive to many of you although we feel we've done the appropriate market research to address the value of what we provide.

Our service is backed by industry leading partners and Cardit.com holds a website identity assurance warranty of $10,000 through Comodo. This means that you are insured for up to $10,000 when relying on the information provided by Comodo's IdAuthority on our site.

http://www.comodo.com/products/search_ida.asp

There are also no hidden processing fees. We clearly explain the fee structure for users making a payment with our service before any transactions are completed.

I encourage anyone with concerns over the legitimacy of our business to contact us directly; our information is below.

Regards,

Philip Mikal
CardIt, LLC
support (at) cardit (dot) com

Wow, what a free advertisement here and in any other forum...

Anyway, majority of people here in this forum will not benefit from your services due to the fee structure.

*holding breath*

ScootyPuffSr said: I tried obtaining the fees or even getting more information. There were only four tabs or so and I kept finding myself back at the page requesting my personal information.

Please post a link that shows all of the fees associated with this product without having to give you all my personal information.

I agree. I understand that the hardest part in putting the website is to ensure that the eCommerce part works. But to attract customers, you need to put more information regarding the services you provide, fees, FAQs, etc. It makes you look a little bit more legitimate rather than a week-old company.

notanormalgent said: Glitch99 said: My business has a credit card processing account. I have my business send a check to my mortgage company, then put through a charge to my credit card to collect that same amount. PM me your mortage payment address and credit card info, and I'll do the same for you!

Talking like that without a license, seems like YOU'RE breaking some FEDERAL LAWS! You better be careful because the FBI might be knocking on your door soon!
lydiachang said: I pay for my mortgage on a credit card - it's called Bank of America (MBNA) online billpay and it's free! Yipee!I guess BofA is going to go to jail too...... Atleast I'll have company.

Well I'm gonna green the OP, since my current offer is 5% back on every spend the 2.50% fee is a net 2.5% positive. If you have a Citi Driver's Edge or Citi Premier Pass Elite and earn a total of 2 Thank You points per dollar spent, and can make those worth 1.5 cents each in travel rewards (still pretty easy to do) then you're still coming out a shade ahead (0.5%). For some of you with giant mortgages, 1/2% per month isn't neglibile.

anthonyu said: ScootyPuffSr said: I tried obtaining the fees or even getting more information. There were only four tabs or so and I kept finding myself back at the page requesting my personal information.

Please post a link that shows all of the fees associated with this product without having to give you all my personal information.

I agree. I understand that the hardest part in putting the website is to ensure that the eCommerce part works. But to attract customers, you need to put more information regarding the services you provide, fees, FAQs, etc. It makes you look a little bit more legitimate rather than a week-old company.

The website was registered in 1998. Not the kind of website I would give that much personal info to.

Looks like the cofounder's post was deleted. Maybe his free advertisement did not go over well.