Author Topic: Way to actually pay mortgage with credit card  (Read 44648 times)

sirdoug007

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Re: Way to actually pay mortgage with credit card
« Reply #100 on: April 10, 2015, 02:50:07 PM »
I'm also using a gift-card transfer scheme to get 5x miles by buying gift cards from certain retailers that accept their own gift cards to buy other cards.  I go to Staples.com, buy the gift cards, take them to the 'retailer', and buy $500 Visa Gift cards earning 5K miles/transaction.  I buy enough from there (and another retailer) to earn miles/points, then go to Target, load the card (under the daily & monthly limits) and finally use the Target REDcard pre-paid account's bill pay to pay the mortgage.

Can you give us a concrete example of how this works?

Such as:
1. Go to Staples.com and buy $500 Bestbuy gift card.
2. Go to BestBuy and buy $500 Visa gift card.
3. etc.

I'm not following where you use the credit card and how you exchange them for Visa gift cards without fees.  Thanks!

Mother Fussbudget

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Re: Way to actually pay mortgage with credit card
« Reply #101 on: April 10, 2015, 04:58:55 PM »
I left out the name of the 'store' on purpose.  There's always the chance when retail deals are verified, that the retailer stops accepting their own gift cards for other gift cards (UpgradeGC).  One could always be left stuck with gift cards for a store where you could only buy  (for example) "trains, planes and video games" if they stop doing gift card upgrades. 

My method:
1) From home, go to Staples.com and buy $500-$1000 of 'store' gift cards with e-mail delivery with Chase Ink Plus Visa card - 5x points at Office Supply stores.    (you receive 1 email per gift card.)
2) Follow each email to the online gift-card in your smart-phone browser.
4) Go to 'store' with your smartphone and buy 2x $500 Vanilla Visa Gift Cards. Scan each GC from the phone at the register + $4.95 fee.
5) Go to Target, and deposit Visa Gift cards into prepaid REDcard in $1000 increments (up to $2.5K daily / $5K monthly limits).
6) From home, use REDcard website bill-pay option to pay the mortgage. 
7) From home, use REDcard website bill-pay to send any excess to investment / savings account.

Complex... I know. 

I'm going trying a new method:  buy Sears cards via "Ultimate Rewards" portal (8x bonus), and use the Sears cards to buy Vanilla Visa Gift cards... but I haven't personally run that experiment.  I'm assured it will work.

To find retailers that accept their own gift cards to purchase other gift cards, see:  http://frequentmiler.boardingarea.com/laboratory/ and search "UpgradeGC SUCCESS"

Mother Fussbudget

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Re: Way to actually pay mortgage with credit card
« Reply #102 on: April 13, 2015, 10:12:23 AM »
Forgot the last step...
8) From home, go to chase.com to pay off the Chase Ink Plus card with the $$ for my mortgage.

Mother Fussbudget

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Re: Way to actually pay mortgage with credit card
« Reply #103 on: April 16, 2015, 09:55:23 AM »
Follow-up: the Sears gift-card upgrade experiment was a FAIL.  Sears no longer accepts their gift cards in exchange for other gift cards. FYI

nanu

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Re: Way to actually pay mortgage with credit card
« Reply #104 on: April 16, 2015, 12:16:13 PM »
What happens if you use the Sears GC to buy something (whatever it is), and then return it?
Is the money refunded to the GC or somewhere else that you might be able to use?

arebelspy

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Re: Way to actually pay mortgage with credit card
« Reply #105 on: April 16, 2015, 01:11:05 PM »
What happens if you use the Sears GC to buy something (whatever it is), and then return it?
Is the money refunded to the GC or somewhere else that you might be able to use?

Gift card.

That's pretty standard for every store.
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Researcher

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Re: Way to actually pay mortgage with credit card
« Reply #106 on: April 16, 2015, 01:34:52 PM »
So I got the permanent card in the mail, and it's activated.  Any reason to hold on to the card I got in the store?

No, that card is no longer active.

I've made a pretty good side business selling these online - it's been a game changer for sure.

Ricky

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Re: Way to actually pay mortgage with credit card
« Reply #107 on: April 16, 2015, 04:02:06 PM »
So I got the permanent card in the mail, and it's activated.  Any reason to hold on to the card I got in the store?

No, that card is no longer active.

I've made a pretty good side business selling these online - it's been a game changer for sure.

Why would anyone buy these if not to use them for manufactured spend? They can't do that unless they go into Target anyway.

arebelspy

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Re: Way to actually pay mortgage with credit card
« Reply #108 on: April 16, 2015, 04:31:29 PM »
So I got the permanent card in the mail, and it's activated.  Any reason to hold on to the card I got in the store?

No, that card is no longer active.

I've made a pretty good side business selling these online - it's been a game changer for sure.

Why would anyone buy these if not to use them for manufactured spend? They can't do that unless they go into Target anyway.

Many Targets can load them, but don't stock them.  So they buy them from someone in a state who has Targets selling them, get it shipped to them, then load it at their local Target.
We are two former teachers who accumulated a bunch of real estate, retired at 29, spent some time traveling the world full time and are now settled with three kids.
If you want to know more about us, or how we did that, or see lots of pictures, this Business Insider profile tells our story pretty well.
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purple monkey

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Re: Way to actually pay mortgage with credit card
« Reply #109 on: April 16, 2015, 05:51:52 PM »
New here.  Been lurking for over a year.

Please advise on the red card.

Is it a Target card or am I a newbie who is confused?

TIA

Ricky

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Re: Way to actually pay mortgage with credit card
« Reply #110 on: April 16, 2015, 06:35:08 PM »
So I got the permanent card in the mail, and it's activated.  Any reason to hold on to the card I got in the store?

No, that card is no longer active.

I've made a pretty good side business selling these online - it's been a game changer for sure.

Why would anyone buy these if not to use them for manufactured spend? They can't do that unless they go into Target anyway.

Many Targets can load them, but don't stock them.  So they buy them from someone in a state who has Targets selling them, get it shipped to them, then load it at their local Target.

Ahh makes sense!

arebelspy

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Re: Way to actually pay mortgage with credit card
« Reply #111 on: April 16, 2015, 06:42:03 PM »
New here.  Been lurking for over a year.

Please advise on the red card.

Is it a Target card or am I a newbie who is confused?

It is an American Express online bank account in partnership with Target, where you load it: https://amex.serve.com/prepaidredcard/

It is not a Target credit card, that is different: http://www.target.com/redcard/main

Welcome to the forums purple monkey dishwasher!  :)
We are two former teachers who accumulated a bunch of real estate, retired at 29, spent some time traveling the world full time and are now settled with three kids.
If you want to know more about us, or how we did that, or see lots of pictures, this Business Insider profile tells our story pretty well.
We (rarely) blog at AdventuringAlong.com. Check out our Now page to see what we're up to currently.

purple monkey

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Re: Way to actually pay mortgage with credit card
« Reply #112 on: April 16, 2015, 09:30:16 PM »
New here.  Been lurking for over a year.

Please advise on the red card.

Is it a Target card or am I a newbie who is confused?

It is an American Express online bank account in partnership with Target, where you load it: https://amex.serve.com/prepaidredcard/

It is not a Target credit card, that is different: http://www.target.com/redcard/main

Welcome to the forums purple monkey dishwasher!  :)

Thanks for the response and welcome!

I looked a little at your history.

Very, very impressive!!!

Schaefer Light

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Re: Way to actually pay mortgage with credit card
« Reply #113 on: April 17, 2015, 08:32:45 AM »
I just noticed that the cards cannot be re-loaded in NC or Arkansas.  That's a bummer.  Especially since the stores near me in NC do sell the cards.  It seems ridiculous that they would sell them but not re-load them.  I guess I've got the opposite problem of most people.
« Last Edit: April 17, 2015, 08:52:57 AM by Schaefer Light »

Indexer

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Re: Way to actually pay mortgage with credit card
« Reply #114 on: April 17, 2015, 04:27:17 PM »
I just noticed that the cards cannot be re-loaded in NC or Arkansas.  That's a bummer.  Especially since the stores near me in NC do sell the cards.  It seems ridiculous that they would sell them but not re-load them.  I guess I've got the opposite problem of most people.

Same problem here.  The manager at the nearest store said it has something to do with the POS terminals.  They haven't been updated.  I call about once a month to see if it has changed.

meadow lark

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Re: Way to actually pay mortgage with credit card
« Reply #115 on: May 24, 2015, 01:19:49 PM »
Read today you could no longer load the Red Card with a credit card.  Too bad.

milesdividendmd

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Re: Way to actually pay mortgage with credit card
« Reply #116 on: May 24, 2015, 02:51:03 PM »

Read today you could no longer load the Red Card with a credit card.  Too bad.

Meadow Lark,

That's true but there are countless other strategies that will allow you to pay all of your bills with credit cards, for 1% or less (sometimes even better than free. )

We cover many of these in our travel miles 101 course (which is free, at this point.)

Feel free to sign up!

AZ

SailAway

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Re: Way to actually pay mortgage with credit card
« Reply #117 on: May 24, 2015, 03:21:47 PM »

Read today you could no longer load the Red Card with a credit card.  Too bad.

Meadow Lark,

That's true but there are countless other strategies that will allow you to pay all of your bills with credit cards, for 1% or less (sometimes even better than free. )

We cover many of these in our travel miles 101 course (which is free, at this point.)

Feel free to sign up!

AZ
u
I just signed up. Thanks. :)

Stache In Training

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Re: Way to actually pay mortgage with credit card
« Reply #118 on: June 11, 2015, 10:02:30 PM »
Read today you could no longer load the Red Card with a credit card.  Too bad.

Yeah, I can confirm. I went to load it today with a credit card, and it got denied.