Want to pay your mortgage with a credit card? It can be done; I’ve done so for years. Here’s how I make my monthly mortgage payment using my favorite credit card.
Why to Pay Mortgage with Credit Cards
You do not earn rewards. I still haven’t found one where you can earn cash rewards , although that would be fantastic!
However, you do get an extra month and a half of float to earn interest on your money. Even though interest rates  are pathetic right now, it’s still free money. And when you get that float month after month, year after year, it does add up.
Pay Mortgage with Online Bill Payment
Update 2: My preferred method to pay a mortgage with a credit card is now Plastiq. Here’s more on how to Use Plastiq to Pay Mortgage or Rent with a Credit Card .
Update: The FIA method described below is no longer available. However, you can use ChargeSmart  to pay your mortgage. Just make sure that your cash back will cover any fees that ChargeSmart charges. In addition, you can Use Bluebird to Pay your Mortgage with a Credit Card .
Old FIA Billpay Strategy:
FIA Card Services offers an online bill payment called “Bill Pay Choice.” It was a an option that was originally grandfathered in for old MBNA cardholders. I use my Schwab credit card  for the billpay.
If you don’t already have a card serviced by FIA, it appears that the Fidelity Credit Card  also will get you access to bill pay choice.
In addition, you can also mix a rewards card with online bill payment. It’s not like balance transfers where you have to keep new purchases separate; you can mix bill payments and new purchases without any fees or problems.
Set Up Automatic Payments
Using the bill pay, you can set up automatic payments. I’ve mentioned before that I pay all of our bills with FIA bill pay .
FIA pays my mortgage on the 25th of every month. My credit card cycle closes on the 15th of the following month, and my payment is due on the 12th of the third month. You could stretch it out even further, but I always try to build in a buffer in case something goes wrong. It all gets paid automatically so I don’t have to think about it.
So my August 25 mortgage payment will come out of my checking account on October 12. Until then, it’ll earn some extra money! Do this with all of your bills and you’ll start to see the float add up.
Do you pay your mortgage with a credit card?