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Learning, Sharing, and Teaching => Ask a Mustachian => Topic started by: TheAnonOne on February 13, 2017, 07:47:05 PM

Title: Pay car loan(chase) with credit card? Fee? (For Churning)
Post by: TheAnonOne on February 13, 2017, 07:47:05 PM

Hello,

Trying to churn through a large amount of spend and the only debt I have is a car loan. I don't mind paying a small fee, but I could churn up a storm depending on the fee and terms.

Are there any services that do this that anyone has used here?

Title: Re: Pay car loan(chase) with credit card? Fee? (For Churning)
Post by: secondcor521 on February 13, 2017, 08:12:48 PM

I haven't used it personally, but I think plastiq.com will let you pay anything via credit card.  Fee is 2.5% of amount, paid by you.

With a car loan, you could just use the balance transfer aspect of your CC.  Usually a 2%-3% fee though, which may or may not sour the deal depending on your particular circumstances.

Title: Re: Pay car loan(chase) with credit card? Fee? (For Churning)
Post by: TheAnonOne on February 13, 2017, 09:11:55 PM

Quote from: secondcor521 on February 13, 2017, 08:12:48 PM

I haven't used it personally, but I think plastiq.com will let you pay anything via credit card.  Fee is 2.5% of amount, paid by you.

With a car loan, you could just use the balance transfer aspect of your CC.  Usually a 2%-3% fee though, which may or may not sour the deal depending on your particular circumstances.

IIRC "Balance Transfers" don't count as credit card spend.

Title: Re: Pay car loan(chase) with credit card? Fee? (For Churning)
Post by: TheAnonOne on February 13, 2017, 09:21:16 PM

I owe some tax, I think I can pay the IRS via CC...