Can I pay my mortgage with a credit card?
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How to pay a mortgage with a credit card

Lenders don't typically accept mortgage payments by credit card because they would have to pay a credit card transaction fee, which can be as high as 3.5%. You'd also be paying a secured debt with an unsecured debt, possibly with a higher interest rate. There are ways to indirectly use your card to pay your mortgage, however. Third-party payment platform Some vendors will make a payment to a lender on your behalf. Plastiq, for example, charges a 2.9% fee and the funds can be sent via cash, check or bank transfer. Plastiq will only process mortgage payments for cards on the Mastercard and Discover network, however, not Visa or American Express. Check with your issuer about any additional restrictions and to see if transactions are processed as purchases or cash advances. Cash advance If your card has a cash advance option, you could use it to pay your mortgage. There is typically a service fee for a cash withdrawal, however, and most card issuers start charging interest as soon as the advance posts on your account, rather than at the end of the billing cycle. The annual percentage rate (APR) on cash advances is considerably higher than on regular purchases: The APR on regular purchases on a Capital One Venture Rewards Credit Card (see rates and fees), for example, is 19.99% to 29.99% variable (see rates and fees). The rate on cash advances, though, is 29.99% variable (see rates and fees).

Capital One Venture Rewards Credit Card Learn More Rewards 5 Miles per dollar on hotel and rental cars booked through Capital One Travel, 2X miles per dollar on every other purchase

Welcome bonus Earn 75,000 bonus miles once you spend $4,000 on purchases within 3 months from account opening

Annual fee $95

Intro APR N/A for purchases and balance transfers

Regular APR 19.99% - 29.99% variable

Balance transfer fee $0 at the Transfer APR, 4% of the amount of each transferred balance that posts to your account at a promotional APR that Capital One may offer to you

Foreign transaction fee None

Credit needed Excellent/Good See rates and fees, terms apply.

A cash advance on the Venture card also comes with a service fee of 3% or $10 (whichever is greater; see rates and fees) and cash advances are not generally included in 0% APR introductory periods or rewards programs. Balance transfer check Some card issuers provide account holders with paper checks linked to their account that can be used to buy items, get cash or pay someone for services. Fees for these checks can range from 2% to 5% and transfer checks typically have a higher interest rate than purchases. If you're approved for a Chase Freedom Flex℠, you may receive balance transfer checks that can be made out to your mortgage provider. The fee for a balance transfer made within 60 days of opening a Freedom Flex card is $5 or 3%, whichever is more. (After the intro period, it goes up to $5 or 5%, whichever is higher.) In addition, Freedom Flex cardholders may qualify for a 0% intro APR on purchases and balance transfers for the first 15 months from account opening. After that, the base APR ranges from 20.49% to 29.24% variable.

Chase Freedom Flex℠ Rewards 5% cash back on up to $1,500 in combined purchases in bonus categories each quarter you activate (then 1%), 5% cash back on travel booked through the Chase Ultimate Rewards®, 3% on drugstore purchases and on dining (including takeout and eligible delivery services), 1% cash back on all other purchases

Welcome bonus Earn a $200 bonus after you spend $500 on purchases in the first 3 months from account opening.

Annual fee $0

Intro APR 0% for the first 15 months from account opening on purchases and balance transfers

Regular APR 20.49% - 29.24% variable

Balance transfer fee Intro fee of either $5 or 3% of the amount of each transfer, whichever is greater, on transfers made within 60 days of account opening. After that, either $5 or 5% of the amount of each transfer, whichever is greater.

Foreign transaction fee 3%

Credit needed Excellent/Good

Member FDIC. Terms apply. Information about the Chase Freedom Flex℠ has been collected independently by Select and has not been reviewed or provided by the issuer of the card prior to publication. Read our Chase Freedom Flex℠ review.

Rocket Visa Signature Card You can't pay your monthly mortgage bill with a Rocket Visa Signature Card. But, if your home loan is with Rocket Mortgage, you can put the points you earn through purchases toward your principal. Cardholders earn 5 points for every dollar spent and points can also be redeemed as a statement credit or be put toward a down payment or closing costs on a future Rocket Mortgage loan.

Rocket Visa Signature Card Learn More On Rocket's secure site Rewards 5 points on all purchases

Welcome bonus $200 statement credit when you spend $3,000 in the first 90 days of being approved

Annual fee $95 (waived Rocket Mortgage serviced clients)

Intro APR None

Regular APR 20.99% to 30.99% variable

Balance transfer fee N/A

Foreign transaction fee None

Credit needed Not specified Terms apply.

Benefits of paying your mortgage with a credit card

There are upsides to using a card, though financial advisors suggest only doing it if you have the money to cover the payment on time and in full. Welcome bonus or rewards Since housing typically makes up the largest chunk of Americans' monthly expenses, charging your mortgage can help you get the most out of your card's rewards program. If you're hoping to take advantage of a welcome bonus, though, you'll have to get approved for a new card and use it within a limited window. The Capital One Quicksilver Cash Rewards Credit Card (see rates and fees) has a welcome bonus of $200 when you spend $500 within the first three months from account opening. If your mortgage payment is $1,500, you'd make more than $150 after paying Plastiq's 2.9% service fee.



You'd also get 1.5% cash back, or $22.50, as part of the card's rewards program.

Capital One Quicksilver Cash Rewards Credit Card Learn More Rewards Enjoy up to 6 months of complimentary Uber One membership statement credits through 11/14/2024, 1.5% cash back on every purchase

Welcome bonus Earn a one-time $200 cash bonus after you spend $500 on purchases within 3 months from account opening

Annual fee $0

Intro APR 0% intro APR for 15 months on purchases and balance transfers

Regular APR 29.99% variable

Balance transfer fee 3% for the first 15 months; 4% at a promotional APR that Capital One may offer you at any other time

Foreign transaction fee None

Credit needed Excellent/Good

See rates and fees. Terms apply. Read our Capital One Quicksilver Cash Rewards Credit Card review.

0% introductory APR With the Discover it® Miles card, you can earn an unlimited 1.5x miles per dollar on every purchase. It's one of the most flexible travel cards on the market, allowing users to book flights on any airline or stay at any hotel. As a welcome bonus for new members, Discover will match all the miles you earn at the end of your first year. If your mortgage payment is $1,500 a month ($18,000 a year), you'd earn 54,000 miles, worth about $540.

Discover it® Miles Learn More On Discover's secure site Rewards Automatically earn unlimited 1.5x Miles on every dollar of every purchase.

Welcome bonus Discover will match all the Miles earned for all new cardmembers at the end of your first year.

Annual fee $0

Intro APR 0% Intro APR for 15 months on purchases.

Regular APR 17.24% to 28.24% Variable

Balance transfer fee 3% intro balance transfer fee, up to 5% fee on future balance transfers (see terms)*

Foreign transaction fee None

Credit needed Good / Excellent

*See rates and fees, terms apply. Read our Discover it® Miles review.

The fee from Plastiq would be about $522, so you'd net a modest $18. But the card also comes with a 0% intro APR for 15 months on purchases (17.24% to 28.24% variable APR afterward). That could give you some flexibility with making payments. Just be sure to pay off the total before the intro period expires or you'll be paying a much higher interest rate than your mortgage has.

Risks of using a credit card to pay your mortgage

There are fees associated with using a card to cover your mortgage payment, especially if you don't pay the balance in full by the end of the billing cycle. Interest and transaction fees If you carry a balance, the interest could wipe out any gain from your card's rewards program. Even if you pay in full before the end of the billing cycle, there's still the service fee from Plastiq. The Capital One Savor Cash Rewards Credit Card comes with a $300 welcome bonus if you spend $3,000 within three months of account opening. The fee for a $1,000 mortgage payment on Plastiq would be $29 (2.9% of $1,000), leaving you with a tidy sum of $271.

Capital One Savor Cash Rewards Credit Card Learn More Information about the Capital One Savor Cash Rewards Credit Card has been collected independently by Select and has not been reviewed or provided by the issuer of the card prior to publication. Rewards 4% cash back on dining and entertainment, 4% on eligible streaming services, 3% at grocery stores and 1% on all other purchases

Welcome bonus Earn a one-time $300 cash bonus once you spend $3,000 on purchases within the first three months from account opening

Annual fee $95

Intro APR None

Regular APR 19.99% - 29.99% variable

Balance transfer fee 4% for promotional APR offers; none for balances transferred at regular APR

Foreign transaction fee None

Credit needed Excellent/Good Terms apply.

The APR on purchases for the Capital One Savor card starts at 19.99%, though, so if you don't make a full payment right away you'll wind up in the red pretty quickly. In addition, the payment to Plastiq isn't eligible for Savor's top cash-back categories — which include 5% cash back on hotels booked through Capital One Travel, 4% cash back on dining and 3% cash back on groceries. Impact on credit score and credit utilization ratio On-time payments are the largest factor in determining your FICO credit score. So you could seriously damage your credit if you don't pay the credit card bill by the due date. Even if you do pay it on time, your credit utilization ratio could take a temporary hit. Because issuers can be slow to report to the credit bureaus, there tends to be a lag between your current card balance and the balance on your credit report, according to Experian.

FAQ Can I use a credit card to pay my mortgage? While most mortgage lenders don't accept credit card payments, you may be able to charge the amount to a third-party company like Plastiq, which will send it in the form of cash, check or bank transfer for a fee. Can I earn points by paying my mortgage with a credit card? You can accrue points and other rewards by charging your monthly home payment to a third-party payment platform. Be sure, however, that the cash value of any benefits outweighs the fees and interest you could pay. Cash advances and balance transfers don't earn rewards. Can I get Bilt Rewards on my mortgage? Currently, the Bilt Mastercard (see rates and fees) can only be used to pay rent. The company indicated in January 2024 that it is looking into adding mortgage payments to its offerings.

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Bottom line

Since lenders typically don't accept credit cards, you can usually only make a mortgage payment on your card via a third-party platform. Paying one debt by adding to another is a risky maneuver, however, and you should only consider it if you can afford to cover the payment in full. Even then, be sure the cash value of any credit card rewards outweighs the fees and interest you might accrue.

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For rates and fees of the Discover it® Miles, click here.

Editorial Note: Opinions, analyses, reviews or recommendations expressed in this article are those of the Select editorial staff’s alone, and have not been reviewed, approved or otherwise endorsed by any third party.