Author Topic: Way to actually pay mortgage with credit card  (Read 44593 times)

Tami1982

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Re: Way to actually pay mortgage with credit card
« Reply #50 on: March 08, 2015, 11:02:42 AM »
I bought a red card off ebay (they don't have them in Washington yet either) and have already registered it.  Just waiting for my permanent card so I can try loading it and paying my mortgage with it.  I will post how it goes.

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Re: Way to actually pay mortgage with credit card
« Reply #51 on: March 08, 2015, 11:17:12 AM »
I got my permanent card last week.

I can confirm that you can load $2500 a day twice a month, and that you can pay any bill you like including mortgages with their bill pay application.

Hat tip to brad who runs The free "miles for Mustachians" travel hacking course with me Who graciously offered to pick up a Redbird card for me (and a bunch of our course takers) in Richmond Virginia.

It was very nice of him as he had to front $10 for each card he picked up.

Stache In Training

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Re: Way to actually pay mortgage with credit card
« Reply #52 on: March 08, 2015, 08:00:41 PM »
Thanks Secretly Saving, and everyone else who has chimed in here.  this is great!

surfhb

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Re: Way to actually pay mortgage with credit card
« Reply #53 on: March 10, 2015, 12:19:17 PM »
Purchased a Red Card with my friends help who lives in Bolder, co.    Can't wait to see how the bill pay option works in paying the rent with my AMEX :)

They're also readily available on eBay for about $20 for those you aren't able to pick one up.   

With all my expenses now going to the green card I'll be getting a flight to Europa every 1.5 to 2 years.  Nice!
« Last Edit: March 10, 2015, 12:25:25 PM by surfhb »

SantaFeSteve

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Re: Way to actually pay mortgage with credit card
« Reply #54 on: March 10, 2015, 12:45:30 PM »
I've been using my Redcard for a few weeks to hit my minimum spend on some reward cards and using the online bill pay to pay down my student loans.  Works great so far.

FWIW I have been loading $1,000 per transaction and doing 2 transactions at the same time. So loading $2,000 per trip to Target and I have loaded more than $6,000 in less than 1 month. 

MilesdividendMD, I am not sure where you are seeing the limit of $5,000 per month but I have not had an issue with loading more and did not see that limit anywhere on the website or in my agreement.

madage

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Re: Way to actually pay mortgage with credit card
« Reply #55 on: March 10, 2015, 02:26:20 PM »

missundecided

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Re: Way to actually pay mortgage with credit card
« Reply #56 on: March 11, 2015, 09:43:07 AM »
I have a Bluebird card. Before I get one from eBay (I'm in CA so not available in Targets here), do I transfer service, or do I wait until I get the temp card? Is there a way to test eBay validity?

I'm guessing, too, that the Redcard is better than the Bluebird?

SantaFeSteve

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Re: Way to actually pay mortgage with credit card
« Reply #57 on: March 11, 2015, 09:58:16 AM »
Limits are fairly obvious: https://amex.serve.com/prepaidredcard/faqs/?anchor=cash-1
indeed that is fairly obvious.  I read the cardmember agreement, again, and those limits are not in the agreement, but I did find them under additional legal disclosures on the website. 
I then went back to check and I did not in fact add $6,000 in a month.  I hit $5,000 and then it became March before I made my next deposit.

Anywho,  it does work nicely for the credit card minimum spend. 

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Re: Way to actually pay mortgage with credit card
« Reply #58 on: March 11, 2015, 10:01:05 PM »
I have a Bluebird card. Before I get one from eBay (I'm in CA so not available in Targets here), do I transfer service, or do I wait until I get the temp card? Is there a way to test eBay validity?

I'm guessing, too, that the Redcard is better than the Bluebird?

You need to close your Bluebird card before you can register your permanent red card.  I tried to register a RedCard and it errored out because I had the Serve card, I called and closed it and the red card registration went through in under 5 minutes.

surfhb

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Re: Way to actually pay mortgage with credit card
« Reply #59 on: March 16, 2015, 10:08:37 PM »
Just received my card today.   

Question:   What about running my monthly savings through my Red Card to gain the points on my AMEX?    Let say I'm sending off $500 to my ROTH.    Can I load the card with $500,  withdraw the cash,  paid my AMEX then send the $500 to my ROTH?   Make sense?

johnny847

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Re: Way to actually pay mortgage with credit card
« Reply #60 on: March 16, 2015, 10:13:51 PM »
Just received my card today.   

Question:   What about running my monthly savings through my Red Card to gain the points on my AMEX?    Let say I'm sending off $500 to my ROTH.    Can I load the card with $500,  withdraw the cash,  paid my AMEX then send the $500 to my ROTH?   Make sense?

This makes absolutely no sense. You incur a $500 charge on your Amex. Then, you withdraw the $500 cash, and you pay off your Amex. That $500 has now been used to pay off your Amex. Where does this other $500 for the Roth come from?

surfhb

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Re: Way to actually pay mortgage with credit card
« Reply #61 on: March 16, 2015, 10:33:51 PM »
Just received my card today.   

Question:   What about running my monthly savings through my Red Card to gain the points on my AMEX?    Let say I'm sending off $500 to my ROTH.    Can I load the card with $500,  withdraw the cash,  paid my AMEX then send the $500 to my ROTH?   Make sense?

This makes absolutely no sense. You incur a $500 charge on your Amex. Then, you withdraw the $500 cash, and you pay off your Amex. That $500 has now been used to pay off your Amex. Where does this other $500 for the Roth come from?

I already have the $500 ready to put into my ROTH.    If I load my card with $500 from my AMEX green card and withdrawl the cash......I  now have $1000.   500 goes to AMEX to pay off the reload and $500 goes to my ROTH.    I'm just funneling my savings through the Red Card to gain the points.   

Seems doable or maybe I'm being blonde :)

Can a AMEX to Red Card Reload be immediately turned into cash?
« Last Edit: March 16, 2015, 10:39:02 PM by surfhb »

johnny847

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Re: Way to actually pay mortgage with credit card
« Reply #62 on: March 16, 2015, 10:39:14 PM »
Just received my card today.   

Question:   What about running my monthly savings through my Red Card to gain the points on my AMEX?    Let say I'm sending off $500 to my ROTH.    Can I load the card with $500,  withdraw the cash,  paid my AMEX then send the $500 to my ROTH?   Make sense?

This makes absolutely no sense. You incur a $500 charge on your Amex. Then, you withdraw the $500 cash, and you pay off your Amex. That $500 has now been used to pay off your Amex. Where does this other $500 for the Roth come from?

I already have the $500 ready to put into my ROTH.    If I load my card with $500 from my AMEX green card and withdrawl the cash, I now have $1000.   500 goes to AMEX to pay off the reload and $500 goes to my ROTH.    I'm just funneling my savings through the Red Card to gain the points.   

Seems doable or maybe I'm being blonde :)

You don't need to have $500 ready before starting this cycle in order to use the REDcard:

1) You have $0 to start.
2). Go to Target, use your Amex to load $500 to your REDcard. Then withdraw $500 cash from your REDcard. You now have a $500 asset, cash, and a $500 liability, your Amex. Net amount of money: nothing. Net amount of points? 500 points on your Amex (or whatever multiplier is applicable if your Target is coded as a grocery store, which it almost certainly isn't for Amex).
3). Deposit $500 cash into your bank account.
4). Pay off your Amex. You now are back to $0. No liabilities, no assets.

surfhb

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Re: Way to actually pay mortgage with credit card
« Reply #63 on: March 16, 2015, 10:48:02 PM »
Right......so it's perfectly ok and legal to reload and repay my AMEX to gain the points?    Seems odd

arebelspy

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Re: Way to actually pay mortgage with credit card
« Reply #64 on: March 16, 2015, 10:49:17 PM »

Right......so it's perfectly ok and legal to reload and repay my AMEX to gain the points?    Seems odd

Yeah.

The Roth has nothing to do with it.
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surfhb

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Re: Way to actually pay mortgage with credit card
« Reply #65 on: March 16, 2015, 10:53:41 PM »

Right......so it's perfectly ok and legal to reload and repay my AMEX to gain the points?    Seems odd

Yeah.

The Roth has nothing to do with it.

Hmmmm....Won't AMEX catch on to this?     How many points a year can one gain doing this?   

arebelspy

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Re: Way to actually pay mortgage with credit card
« Reply #66 on: March 16, 2015, 10:57:20 PM »


Right......so it's perfectly ok and legal to reload and repay my AMEX to gain the points?    Seems odd

Yeah.

The Roth has nothing to do with it.

Hmmmm....Won't AMEX catch on to this?     How many points a year can one gain doing this?   

Do you get points loading an Amex to red card?  I know you didn't with serve. Nevertheless, you can load a visa then pay it off with the serve account.

If you just load and pay, they could shut you down, they want you using the account. But yes, on the whole it's what most people do.
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Re: Way to actually pay mortgage with credit card
« Reply #67 on: March 17, 2015, 05:33:43 AM »
I have been using my Reloadable RedCard and it is incredibly flexible.  I have tried all kinds of things just to see if it works.

You can load $1500 to card with cc then immediately withdraw cash from ATM in store ($750 per day)

You can pay a friend or family member by check for free with no limits that I can see.  Just enter their address, name and contact.

Thus, even if your mortgage company is not on Bill Pay, just send a check to spouse or room mate, have them cash check, and use cash to pay mortgage.

You can transfer balances from one cc to another and earn points in the process.

It is kind of amazing but like others have said it will probably go away soon.

boarder42

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Re: Way to actually pay mortgage with credit card
« Reply #68 on: March 17, 2015, 05:50:18 AM »
Yeah redcard is legit a legit and awesome no fee way to churn money thru CC's

I'm currently looking for the best Grocery rewards credit card to maximize this as my Target posts as grocery. 

Anyone know what the best no limit grocery card is?  I already have the Amex Preferred i use for normal grocery purchases.  Is there anything else?

I have found the PenFed card gives you 3% at groceries but i'm not clear on how useful penfed points are.

johnny847

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Re: Way to actually pay mortgage with credit card
« Reply #69 on: March 17, 2015, 10:48:06 AM »
Yeah redcard is legit a legit and awesome no fee way to churn money thru CC's

I'm currently looking for the best Grocery rewards credit card to maximize this as my Target posts as grocery. 

Anyone know what the best no limit grocery card is?  I already have the Amex Preferred i use for normal grocery purchases.  Is there anything else?

I have found the PenFed card gives you 3% at groceries but i'm not clear on how useful penfed points are.

Note that every payment network sets its own merchant code for each merchant. It is very rare that Amex codes any Target as a grocery store, even if Mastercard and Visa code it as one.

boarder42

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Re: Way to actually pay mortgage with credit card
« Reply #70 on: March 17, 2015, 11:30:01 AM »
Yeah redcard is legit a legit and awesome no fee way to churn money thru CC's

I'm currently looking for the best Grocery rewards credit card to maximize this as my Target posts as grocery. 

Anyone know what the best no limit grocery card is?  I already have the Amex Preferred i use for normal grocery purchases.  Is there anything else?

I have found the PenFed card gives you 3% at groceries but i'm not clear on how useful penfed points are.

Note that every payment network sets its own merchant code for each merchant. It is very rare that Amex codes any Target as a grocery store, even if Mastercard and Visa code it as one.

I'm not using the AMEX for this purpose it is for our normal groceries.  i was looking for other cards the Diners Club card looks awesome if it becomes available again.  I just need to see if mastercard codes Target as a grocery store.  if not it just adds to my expenses by going to CVS and loading serve at FD

johnny847

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Re: Way to actually pay mortgage with credit card
« Reply #71 on: March 17, 2015, 11:41:19 AM »
Yeah redcard is legit a legit and awesome no fee way to churn money thru CC's

I'm currently looking for the best Grocery rewards credit card to maximize this as my Target posts as grocery. 

Anyone know what the best no limit grocery card is?  I already have the Amex Preferred i use for normal grocery purchases.  Is there anything else?

I have found the PenFed card gives you 3% at groceries but i'm not clear on how useful penfed points are.

Note that every payment network sets its own merchant code for each merchant. It is very rare that Amex codes any Target as a grocery store, even if Mastercard and Visa code it as one.

I'm not using the AMEX for this purpose it is for our normal groceries.  i was looking for other cards the Diners Club card looks awesome if it becomes available again.  I just need to see if mastercard codes Target as a grocery store.  if not it just adds to my expenses by going to CVS and loading serve at FD

Oh oops. When you said "I'm currently looking for the best Grocery rewards credit card to maximize this as my Target posts as grocery" and then talked about your Amex, I didn't read closely and jumped to conclusions. My bad.

Off the top of my head I can't think of a no limit grocery store cc.

By the way, any advantage of FD vs Walmart? It's just closer to your house?

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Re: Way to actually pay mortgage with credit card
« Reply #72 on: March 17, 2015, 11:44:44 AM »
Citi card double counts target as grocery. This gets 2%.
Barclaycards sallie mae MasterCard counts target as grocery, but you only get 5% rewards up to a pretty low cap (250 or 350, I can't remember which).
I'd love to hear better suggestions.

boarder42

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Re: Way to actually pay mortgage with credit card
« Reply #73 on: March 17, 2015, 11:50:38 AM »
FD is on my way home and no hassles loading like at Walmart.  They welcome me with a smile and know me by name.  And the managers see it as 500 in sales so they like that. 

I think the best grocery card out there is the Diners club card.  just have to wait for it to go back live and i can get over 120K Starwood points for the measly price of 500 a year. 

For those that dont know that will get you 10 nights in a maui resort that costs over 400 a night.

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Re: Way to actually pay mortgage with credit card
« Reply #74 on: March 17, 2015, 11:51:07 AM »
Off the top of my head I can't think of a no limit grocery store cc.

/face palm. I actually have one. The Amex Premier Rewards Gold - 2x points at groceries, no limit. Annual fee of $175 (but will rise to $195 starting June), waived the first year. Earns Amex Membership Rewards points, transferrable to 17 different airlines (sadly the only major US carrier is Delta, but you can also transfer to British Airways to book flights on AA (and US, but they'll be merged soon)).

boarder42

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Re: Way to actually pay mortgage with credit card
« Reply #75 on: March 17, 2015, 12:04:28 PM »
with 2x points i'll probably just go with the barclay arrival card as they get 2.2x points when used to offset travel.  At least for now.  doesnt matter the store i use.  plus can be churned every 6-7 months apparently. 

boarder42

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Re: Way to actually pay mortgage with credit card
« Reply #76 on: March 17, 2015, 02:19:41 PM »
Thanks neo but you misunderstand the purpose of my initial question that the was a response too... this is the manufacture spend thru target on a card to maximize value of travel/cash back points. 

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Re: Way to actually pay mortgage with credit card
« Reply #77 on: March 17, 2015, 02:29:19 PM »
If this post is out of line, please mods feel free to delete.

Anyone with local access to the RedCard please PM me. I would gladly pay you for your troubles to send one, we do not have them in NY I found out today.

johnny847

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Re: Way to actually pay mortgage with credit card
« Reply #78 on: March 17, 2015, 02:56:20 PM »
with 2x points i'll probably just go with the barclay arrival card as they get 2.2x points when used to offset travel.  At least for now.  doesnt matter the store i use.  plus can be churned every 6-7 months apparently.

You're comparing apples and oranges. A Barclay Arrival+ point can at most only ever be worth 1.111111 cents. An Amex MR point, however, can be transferred to many airline partners at a 1:1 ratio. The most lucrative use of such points is transferring during a bonus period (the most recent one was 1.4 British Airways Avios miles for 1 Amex MR point). Then, redeem them for short flights. This example (obviously, I cherry picked this one) shows a value of 8.5 cents per Avios. http://thepointsguy.com/2012/12/travel-tuesday-top-10-most-valuable-ways-to-redeem-british-airways-avios/.
When you add in that 40% transfer bonus, that's 11.9 cents per Amex MR. And 2x points at grocery stores means an astounding 23.8% cash back.

But like I said, I cherry pikced that example. You should do your own research to see what kind of points valuation you can get using Amex MR points. Typically you can get a valuation of at least 1.5 cents a mile, but it really varies on your itinerary and particularly your home airport.

boarder42

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Re: Way to actually pay mortgage with credit card
« Reply #79 on: March 18, 2015, 05:47:09 AM »
with 2x points i'll probably just go with the barclay arrival card as they get 2.2x points when used to offset travel.  At least for now.  doesnt matter the store i use.  plus can be churned every 6-7 months apparently.

You're comparing apples and oranges. A Barclay Arrival+ point can at most only ever be worth 1.111111 cents. An Amex MR point, however, can be transferred to many airline partners at a 1:1 ratio. The most lucrative use of such points is transferring during a bonus period (the most recent one was 1.4 British Airways Avios miles for 1 Amex MR point). Then, redeem them for short flights. This example (obviously, I cherry picked this one) shows a value of 8.5 cents per Avios. http://thepointsguy.com/2012/12/travel-tuesday-top-10-most-valuable-ways-to-redeem-british-airways-avios/.
When you add in that 40% transfer bonus, that's 11.9 cents per Amex MR. And 2x points at grocery stores means an astounding 23.8% cash back.

But like I said, I cherry pikced that example. You should do your own research to see what kind of points valuation you can get using Amex MR points. Typically you can get a valuation of at least 1.5 cents a mile, but it really varies on your itinerary and particularly your home airport.

and with barclay arrival plus points i can search around and find a baller deal on some hotel or condo that registers as a travel expense on the card.  I can then book that travel with that card and get more value out of it... its no different than the extreme example you just showed. only it has more flexibility.  Say a rental car company is running 6 dollar a day rentals.  Can i get that price with MR no can i with barclay yes... so there is a big difference between the flexibility of the 2 cards and one could argue an extreme example could be found either way.

I dont need airline miles i have 200k AA miles and 310k SW miles.  so finding some crazy weird conversion from MR with avios that would require me to jump closer to my destination to begin with using SW points doesnt really interest me.  AA miles are so easy to pick up with the citi cards it just doesnt make any sense to me to try to maximize that value with avios waiting for the 40% bump from AMEX and then finding some stupid crazy business class flight.  its not about maximizing that point as much as it is about maximizing the value of the dollar i'm spending for my purposes.  and AMEX doesnt do that for me currently.


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Re: Way to actually pay mortgage with credit card
« Reply #80 on: March 18, 2015, 06:49:03 AM »
If this post is out of line, please mods feel free to delete.

Anyone with local access to the RedCard please PM me. I would gladly pay you for your troubles to send one, we do not have them in NY I found out today.
I haven't bought one myself, but I've seen them go for about $30 on ebay.
Not ideal, but possibly better than nothing if you can't find another way to get one

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Re: Way to actually pay mortgage with credit card
« Reply #81 on: March 18, 2015, 11:55:01 AM »
with 2x points i'll probably just go with the barclay arrival card as they get 2.2x points when used to offset travel.  At least for now.  doesnt matter the store i use.  plus can be churned every 6-7 months apparently.

You're comparing apples and oranges. A Barclay Arrival+ point can at most only ever be worth 1.111111 cents. An Amex MR point, however, can be transferred to many airline partners at a 1:1 ratio. The most lucrative use of such points is transferring during a bonus period (the most recent one was 1.4 British Airways Avios miles for 1 Amex MR point). Then, redeem them for short flights. This example (obviously, I cherry picked this one) shows a value of 8.5 cents per Avios. http://thepointsguy.com/2012/12/travel-tuesday-top-10-most-valuable-ways-to-redeem-british-airways-avios/.
When you add in that 40% transfer bonus, that's 11.9 cents per Amex MR. And 2x points at grocery stores means an astounding 23.8% cash back.

But like I said, I cherry pikced that example. You should do your own research to see what kind of points valuation you can get using Amex MR points. Typically you can get a valuation of at least 1.5 cents a mile, but it really varies on your itinerary and particularly your home airport.

and with barclay arrival plus points i can search around and find a baller deal on some hotel or condo that registers as a travel expense on the card.  I can then book that travel with that card and get more value out of it... its no different than the extreme example you just showed. only it has more flexibility.  Say a rental car company is running 6 dollar a day rentals.  Can i get that price with MR no can i with barclay yes... so there is a big difference between the flexibility of the 2 cards and one could argue an extreme example could be found either way.

I dont need airline miles i have 200k AA miles and 310k SW miles.  so finding some crazy weird conversion from MR with avios that would require me to jump closer to my destination to begin with using SW points doesnt really interest me.  AA miles are so easy to pick up with the citi cards it just doesnt make any sense to me to try to maximize that value with avios waiting for the 40% bump from AMEX and then finding some stupid crazy business class flight.  its not about maximizing that point as much as it is about maximizing the value of the dollar i'm spending for my purposes.  and AMEX doesnt do that for me currently.

While my post was in response to your comment, I posted that as general information for the sake of other people on this forum. You were comparing points that have different values, and to the uninformed reader, it may seem like they are actually worth the same.

And secondly, you can certainly find baller deals on lodging. But it's far more difficult to find baller deals on flights, which is what I talked about.
That's great you have so many airline miles. Some people don't, and I'm sure some of them would appreciate knowing how Amex MR points are different from Barclaycard's Arrival+ miles.

boarder42

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Re: Way to actually pay mortgage with credit card
« Reply #82 on: March 18, 2015, 01:24:00 PM »
Johnny there is an answer to my question and its the old blue card from AMEX

http://www.flyertalk.com/forum/manufactured-spending/1535970-old-amex-blue-2013-2014-a.html

5% CB up to 50k a year after 6500 in purchases.  SOOO... even if i have to use a pharmacy and pay the 1% fee for the cards to load serve.  i still make 2k a year on this card cash money. if target counts as a grocery store with amex i will make 2500 a year on this bad boy. 

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Re: Way to actually pay mortgage with credit card
« Reply #83 on: March 18, 2015, 02:08:17 PM »
Johnny there is an answer to my question and its the old blue card from AMEX

http://www.flyertalk.com/forum/manufactured-spending/1535970-old-amex-blue-2013-2014-a.html

5% CB up to 50k a year after 6500 in purchases.  SOOO... even if i have to use a pharmacy and pay the 1% fee for the cards to load serve.  i still make 2k a year on this card cash money. if target counts as a grocery store with amex i will make 2500 a year on this bad boy.

Well strictly speaking it's not an answer to your question because there is a limit of $50k ;) Close enough though, I'd be hard pressed to MS anywhere close to $50k.

boarder42

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Re: Way to actually pay mortgage with credit card
« Reply #84 on: March 18, 2015, 02:26:52 PM »
Johnny there is an answer to my question and its the old blue card from AMEX

http://www.flyertalk.com/forum/manufactured-spending/1535970-old-amex-blue-2013-2014-a.html

5% CB up to 50k a year after 6500 in purchases.  SOOO... even if i have to use a pharmacy and pay the 1% fee for the cards to load serve.  i still make 2k a year on this card cash money. if target counts as a grocery store with amex i will make 2500 a year on this bad boy.

Well strictly speaking it's not an answer to your question because there is a limit of $50k ;) Close enough though, I'd be hard pressed to MS anywhere close to $50k.

Yeah it will take me about 5 months to do all that spend Redcard and serve to the rescue assuming my target codes as a Grocery store otherwise it will take 10 months using just serve.

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Re: Way to actually pay mortgage with credit card
« Reply #85 on: March 18, 2015, 04:01:54 PM »
Just an update.  I loaded my permanent redcard (the cashier did it very quickly, knew exactly what it was, took maybe a minute.)  Used the bill pay to pay my mortgage, car payment, and student loan.  All went through electronically two days later.  I checked all the websites and the payments posted.  WOOT.  Worked great:)

Lyngi

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Re: Way to actually pay mortgage with credit card
« Reply #86 on: March 18, 2015, 08:17:49 PM »
I bought a redcard off Ebay, too.  Took about a week to get the actual card, loaded it up at Target-easy.  I made a small payment to my mortgage to make sure.  It looks like it will take 4 days to get there.  One thing I noticed is that the Redcard website doesn't get along with Chrome browser.  It works fine with my android phone browser, and does fine with Internet Explorer. 

SantaFeSteve

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Re: Way to actually pay mortgage with credit card
« Reply #87 on: March 19, 2015, 07:25:37 AM »
I bought a redcard off Ebay, too.  Took about a week to get the actual card, loaded it up at Target-easy.  I made a small payment to my mortgage to make sure.  It looks like it will take 4 days to get there.  One thing I noticed is that the Redcard website doesn't get along with Chrome browser.  It works fine with my android phone browser, and does fine with Internet Explorer.

FWIW, I use Chrome and have not had an issue with the Redcard website.

Secretly Saving

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Re: Way to actually pay mortgage with credit card
« Reply #88 on: March 19, 2015, 07:27:15 AM »
I haven't either.  I only use Chrome.

boarder42

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Re: Way to actually pay mortgage with credit card
« Reply #89 on: March 19, 2015, 09:20:53 AM »
works fine on my chrome browser also just so you know your android phone browser is chrome

fishie230

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Re: Way to actually pay mortgage with credit card
« Reply #90 on: March 19, 2015, 09:28:51 AM »
Does anyone know if there's a way to find out if your bank is on the redcard billpay list?

SomedayStache

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Re: Way to actually pay mortgage with credit card
« Reply #91 on: March 19, 2015, 09:41:49 AM »
Do you have a red card yet? I'm guessing not because then this would be a silly question.
But it doesn't matter, you can enter your bank's address and your loan number and they will mail a check.
My smallish bank is on their list, but I kept getting an error that my account number was the wrong format and so was unable to use their prefilled info.

I just manually entered the info and have paid my mortgage twice with no issues.

fishie230

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Re: Way to actually pay mortgage with credit card
« Reply #92 on: March 19, 2015, 09:46:55 AM »
Do you have a red card yet? I'm guessing not because then this would be a silly question.
But it doesn't matter, you can enter your bank's address and your loan number and they will mail a check.
My smallish bank is on their list, but I kept getting an error that my account number was the wrong format and so was unable to use their prefilled info.

I just manually entered the info and have paid my mortgage twice with no issues.

Thanks for the reply!  You're right, we don't have one yet and didn't want to bother with the long drive if we weren't actually going to be able to use it for our mortgage.  As long as we can just enter it manually, it sounds like it's worth the drive.

Tami1982

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Re: Way to actually pay mortgage with credit card
« Reply #93 on: March 19, 2015, 10:04:53 AM »
I bought a redcard off Ebay, too.  Took about a week to get the actual card, loaded it up at Target-easy.  I made a small payment to my mortgage to make sure.  It looks like it will take 4 days to get there.  One thing I noticed is that the Redcard website doesn't get along with Chrome browser.  It works fine with my android phone browser, and does fine with Internet Explorer.

I also only use Chrome and did fine, but I do want to share something.  Please check your red card profile.  Mine had phone numbers that were not mine listed, and phone numbers can be used to transfer money.  They  may have had to put phone numbers in when the purchased the card from Target, I don't know.  But I also bought mine on ebay. 

milesdividendmd

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Re: Way to actually pay mortgage with credit card
« Reply #94 on: March 23, 2015, 09:23:49 PM »

Just received my card today.   

Question:   What about running my monthly savings through my Red Card to gain the points on my AMEX?    Let say I'm sending off $500 to my ROTH.    Can I load the card with $500,  withdraw the cash,  paid my AMEX then send the $500 to my ROTH?   Make sense?

Sure you can!

There's nothing magical about actually paying a bill from your red card. You can simply load up your redcard in then use it to pay off the very credit cards that you charged to load it in the first place.

Alternatively you could load up your red card and then withdraw all of your money to a linked bank account and get on with your life.  All that really matters is that you're meeting meaningful goals with your manufactured spending, that you're not doing anything that you feel to be unethical, and that you don't get shut down by the credit card company orThe prepaid card company (i.e. Redbird)

secondcor521

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Re: Way to actually pay mortgage with credit card
« Reply #95 on: March 23, 2015, 10:10:44 PM »
With all my expenses now going to the green card I'll be getting a flight to Europa every 1.5 to 2 years.  Nice!

Seems like that would cost you about 390 million miles:

https://www.google.com/search?q=distance+from+Earth+to+Europa&oq=distance+from+Earth+to+Europa&aqs=chrome..69i57.7685j0j7&sourceid=chrome&es_sm=93&ie=UTF-8

:-P

Stache In Training

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Re: Way to actually pay mortgage with credit card
« Reply #96 on: April 09, 2015, 09:20:00 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?

milesdividendmd

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Re: Way to actually pay mortgage with credit card
« Reply #97 on: April 10, 2015, 10:30:39 AM »

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?

Nope, unless it has sentimental value!

Mother Fussbudget

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Re: Way to actually pay mortgage with credit card
« Reply #98 on: April 10, 2015, 01:30:59 PM »
OP:  I did exactly this with my Target prepaid REDcard for the first time this month.  There are no fees, and the 'bill-pay' option is the thing you use to pay your mortgage.... or send a check to yourself to be deposited into your checking account.

I've been following the "REDbird / REDcard" discussion on FrequentMiler.com, and have had lots of success.  Best of luck!

You were able to do this in the PNW? I noticed the RedCard isn't offered at Target in WA...does that mean you do it all online (apply for the RedCard and later load it with another CC), and never go into a store? That would be cool.

Yes, in the PNW.  Bought my prepaid REDCard at a Target while travelling.  You could also reach out to a friend or family member who lives near a participating Target, and  have them get one for you.  I *was* loading my card at my local Target (Factoria) but now have to drag all the way to Redmond to load the card.  Can not re-load from a credit card on-line.  But there's no fee to load from Visa or MC. 

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.

milesdividendmd

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Re: Way to actually pay mortgage with credit card
« Reply #99 on: April 10, 2015, 02:01:12 PM »
I actually got my prepaid Red card from Brad Barret who runs the travel miles 101 travel course with me.

I believe he has picked up dozens of these for course takers in areas that do not have access to the red card.

I can confirm that it is a very powerful miles and points earning tool.