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What’s your largest monthly expense? For many, it’s a home mortgage payment. As a result, you might try to pay your mortgage with a credit card to earn extra rewards. After all, this can be an easy way for several decades to earn bonus points. However, you must first verify that your mortgage servicer accepts credit card payments.

pay your mortgage with a credit card
Pay your mortgage with a credit card is one way to quickly earn a credit card signup bonus. Credit: Pexels

Terms apply to American Express benefits and offers. Visit americanexpress.com to learn more.

Editor’s Note: Some of the offers below may have expired or are no longer available on our site. 

Why Pay Your Mortgage With a Credit Card?

Credit card mortgage payments are an easy way to earn the best credit card signup bonuses.

Your mortgage lender might let you make credit card payments directly to your mortgage. Wells Fargo, for example, doesn’t accept credit card payments. However, few banks accept credit card payments these days.

One workaround is to use a third-party payment app like Plastiq. With any credit card mortgage payment, plan on paying a processing fee. This fee is typically around 2.5% of the payment total.

However, your purchase rewards will need to be worth more than the processing fees to make paying by credit card worth it. If this may be something of interest to you, these are some of the cards you should consider first to pay your mortgage.

Chase Sapphire Preferred Card

The Chase Sapphire Preferred® Card has one of the most exciting bonus offers for a travel credit card.

New Chase Sapphire Preferred® Card cardholders can earn 100,000 bonus points after spending $4,000 on purchases in the first 3 months from account opening, worth $1250 when redeemed through Chase Ultimate Rewards®. This is the highest bonus offer ever for the Chase Sapphire Preferred!

Your points can be worth a lot more by transferring them at a 1:1 ratio to an airline or hotel partner. Some of the most exciting partners include:

  • Avianca LifeMiles
  • British Airways
  • Emirates
  • United Airlines
  • Singapore Airlines
  • Southwest Airlines
  • World of Hyatt

Frequent flyer miles tend to be most valuable when redeemed for first-class award flights. Your points can easily be worth up to 6 cents when redeemed for first-class or business class seats. Emirates and Singapore Airlines have some of the best premium cabin options.

One award route to consider first is flying in the Singapore Suites class from New York to Frankfurt. One-way award space can be found for 86,000 miles plus fees and taxes.

The Sapphire Preferred also has a reasonable $95 annual fee.

Also, enjoy new Chase Sapphire benefits such as a $50 annual Ultimate Rewards Hotel Credit, 5x points on travel purchased through Chase Ultimate Rewards®, 3x points on dining, and 2x points on all other travel purchases, plus more.

Cardholders also get unlimited deliveries with $0 delivery fees and reduced service fees on orders over $12 for a minimum of one year on qualifying food purchases with DoorDash’s DashPass subscription service. Cardholders must activate by December 31, 2021, in order to receive this benefit. Additionally, cardholders earn 5x points on Lyft rides through March 2022.

Related: Best Chase Credit Cards for Travel

The Platinum Card from American Express

The Platinum Card® from American Express has one of the highest minimum spending limits for a travel credit card. New The Platinum Card® from American Express cardmembers can earn 100,000 Membership Rewards® Points after spending $6,000 on purchases on the Card in the first 6 months of Card Membership. New cardholders also earn 10x points on eligible purchases on the Card at restaurants worldwide and when you Shop Small in the U.S., on up to $25,000 in combined purchases, during your first 6 months of Card Membership. Terms apply. 

Learn more: Johnny Jet Recommended Credit Cards   

You can also transfer your points at a 1:1 ratio to these airlines:

  • Delta Air Lines
  • Emirates
  • Etihad
  • Flying Blue
  • Singapore Airlines
  • Qantas

This can be an excellent option if you want to fly overseas with credit card points. You can also book partner flights for domestic travel with most international airline loyalty programs. One example is a round-trip economy class flight to Hawaii from the U.S. West Coast on Alaska Air for 25,000 miles. You will need to transfer your Membership Rewards to Singapore Airlines first.

Qantas can be another exciting option if you have been wanting to visit Australia.

The card is best for frequent flyers. The card comes with travel perks including a $200 airline fee credit (in the form of a statement credit; enrollment required) and complimentary airport lounge access.

Earn 5x Membership Rewards® Points for flights booked directly with airlines or with American Express Travel, up to $500,000 on these purchases per calendar year. Cardholders also earn 5x points on prepaid hotel bookings through amextravel.com.

Additional Benefits

Cardholders can get $200 back in statement credits each year on prepaid Fine Hotels + Resorts® or The Hotel Collection bookings with American Express Travel when paying with their Platinum Card®.

If you ride Uber or use Uber Eats, this credit will make you happy. Cardholders can enjoy Uber VIP status and up to $200 in Uber savings on rides or eats orders in the US annually. Uber Cash and Uber VIP status available to Basic Card Member only.

Plus, American Express has expanded The Centurion® Network to include 40+ Centurion Lounge and Studio locations worldwide. Now there are even more places your Platinum Card® can get you complimentary entry and exclusive perks.

Terms apply. Enrollment may be required.

New The Platinum Card from American Express Benefits

There’s also a new digital entertainment credit. Cardholders can get up to $20 in statement credits each month when you pay for eligible purchases with The Platinum Card® from American Express at your choice of one or more of the following providers: Peacock, Audible, SiriusXM, and The New York Times. Enrollment required.

In addition to enjoying TSA PreCheck or Global Entry access, cardholders can also enjoy CLEAR perks. Cardholders can use their Card and get up to $179 back per year on their CLEAR® membership. Terms apply.

Another exciting new benefit is the ability for cardholders to enjoy up to $25 back each month on select Equinox memberships. This amounts to up to $300 annually. Enrollment required. 

Get the full details and learn more in our in-depth The Platinum Card from American Express review.

The annual fee is $695 (See Rates & Fees) but can be offset with the perks, which are valued at over $1,400.  

Learn more: Johnny Jet Recommended Credit Cards   

Capital One Venture Rewards Credit Card

The Capital One Venture Rewards Credit Card is the most exciting flat-rate travel rewards credit card. Its signup bonus is relatively small yet still worth pursuing when paying your mortgage. This bonus can also be easier to earn.

New Capital One Venture Rewards Credit Card cardholders can earn 60,000 miles after spending $3,000 on purchases in the first 3 months.

Learn more: Travel Rewards Credit Cards

The annual fee is $95.

Capital One also lets you transfer your points to leading travel loyalty programs. Two newly added hotel partners are Accor Hotels and Wyndham Rewards.

Related: Chase Sapphire Preferred vs Capital One Venture

Southwest Airlines Credit Cards

If you fly Southwest Airlines often, you should strongly consider getting a Southwest Airlines Rapid Rewards credit card. Consumer cards include the Southwest Rapid Rewards® Plus Credit Card, the Southwest Rapid Rewards® Priority Credit Card, and the Southwest Rapid Rewards® Premier Credit Card.

New consumer card cardholders can earn 40,000 points after spending $1,000 on purchases in the first 3 months. Plus, earn 3X points on dining, including takeout and eligible delivery services, for the first year.

The bonus can be a great way for you to start accumulating points to visit Hawaii.

Related: Best Southwest Airlines Credit Card Offers

British Airways Visa Signature Card

The British Airways Visa Signature® Card might not appear like a utilitarian miles credit card at first glance. But Avios have flexible redemption options for domestic and international travel.

For example, domestic American Airlines and Alaska Airlines flights start at 7,500 Avios each way. You can also fly to Hawaii from the U.S. West Coast for 25,000 miles roundtrip. Of course, you can book award flights to Europe on British Airways or another Avios partner.

New British Airways Visa Signature® Card cardholders can earn 100,000 Avios after spending $5,000 on purchases within the first 3 months from account opening.

New cardholders also earn 5 Avios per $1 spent on purchases with Aer Lingus, British Airways, Iberia, and LEVEL within the first 12 months from account opening (earn 3 Avios thereafter). New cardholders can also earn 3 Avios per $1 spent on hotel accommodations when purchased directly with the hotel within the first 12 months from account opening (earn 2 Avios thereafter).

Plus, new British Airways Visa Signature® Card cardholders can get 10% off British Airways flights starting in the United States when you book through the website provided in the welcome materials.

This card has a $95 annual fee but doesn’t charge a foreign transaction fee.

Plus, every calendar year you make $30,000 in purchases on your British Airways Visa card, you’ll earn a Travel Together Ticket good for two years.

Summary

Using a credit card to pay your mortgage is a possibility. However, you may need to use a third-party payment app to submit payment as most lenders prefer you use a checking account to keep fees low. Using a credit card can be well worth it when you can earn a valuable signup bonus or get above-average redemption values.

FAQs

Do I pay my mortgage with a credit card?

Some mortgage lenders and servicing companies let you pay your mortgage with a credit card. However, your bank might require you to make a cash advance (which doesn’t earn purchase rewards or a signup bonus) if you wish to pay your mortgage with a credit card. You also pay interest charges on cash advances.

Another option is to use a third-party payment app like Plastiq. In most cases, you will need to pay processing fees between 2.5% and 3% of the payment amount.

Can you pay mortgages with a Visa credit card?

It’s possible to pay your mortgage with a Visa credit card. However, your lender or the credit card issuing bank may not let you charge mortgage payments to your credit card. They may even consider it a cash advance that doesn’t earn rewards points and requires you to pay interest.

One of the best Visa credit cards for paying your mortgage is the Chase Sapphire Preferred. New Chase Sapphire Preferred® Card cardholders can earn 100,000 bonus points after spending $4,000 on purchases in the first 3 months from account opening, worth $1250 when redeemed through Chase Ultimate Rewards®. This is the highest bonus offer ever for the Chase Sapphire Preferred!

If your lender or credit card provider doesn’t let you pay directly with a credit card, you will need to use a third-party payment app. Whether you pay directly or use an external app, plan on paying a processing fee between 2.5% and 3%.

What bills can be paid with a credit card?

Almost any recurring bill can be paid by credit card including:

  • Insurance
  • Cell phone
  • Internet
  • Streaming services
  • Charitable donations
  • Property taxes
  • Income taxes
  • Utilities (i.e., electric, gas, or water bill)
  • Rent
  • Mortgage payments

Depending on the bill, you may be charged the processing fee. This is most common when making loan payments or paying bills to government agencies. The average processing fee is between 2.5% and 3%. Merchants are most likely to accept Visa, Mastercard, American Express, and Discover for payment.

For rates and fees of The Platinum Card® from American Express, please click here.

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Editorial Note: The editorial content on this page is not provided by any bank, credit card issuer, airlines or hotel chain, and has not been reviewed, approved or otherwise endorsed by any of these entities.

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