Stoozing Forum - Making an over payment on yr mortgage using a CC?

tightbloke Regular Stoozer Offline stoozing.com Posts: 146 Boringstoke Stoozpot £: 10500	Making an over payment on yr mortgage using a CC? Aug 6^th, 2008 at 5:11pm Hi all, can you do this?
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NewStu Long Serving Offline stoozing.com Posts: 1860 Swindon, Unitary Authority Stoozpot £: 16,508	Re: Making an over payment on yr mortgage using a CC? Reply #1 - Aug 6^th, 2008 at 5:14pm Hi tightbloke Not many (or any?) mortgage companies allow you to routinely pay your mortgage by credit card. Only way to find out if your does would be to ask them NewStu
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tightbloke

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Re: Making an over payment on yr mortgage using a CC?
Reply #2 - Aug 6^th, 2008 at 5:27pm

NewStu wrote on Aug 6^th, 2008 at 5:14pm:

Hi tightbloke

Not many (or any?) mortgage companies allow you to routinely pay your mortgage by credit card. Only way to find out if your does would be to ask them

NewStu

Cheers stu,

I have an ex legal & general BLT mortgage now northern crock, just rang CSA and asked same question re making an over payment by CC she said no, ie buying credit with credit ect, I told her it was an egg money card with a plus balance (I wasnt using an egg card) just thought it might throw her...........................

she went to ask her manager, the reply via her was you can if yr in arrears, I then said I want to speak to manager re getting in arrears Cool

he didnt speak to me and I got put throught to collections/arrears............nice lady...........took £5000 right away on my FD gold card, (0% 12 MONTHS) no problems at all.

This has now got me thinking...............................

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NewStu Long Serving Offline stoozing.com Posts: 1860 Swindon, Unitary Authority Stoozpot £: 16,508	Re: Making an over payment on yr mortgage using a CC? Reply #3 - Aug 6^th, 2008 at 5:42pm Good result there for you Tighbloke. It obviously pays yo ask NewStu
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Derbyfella Regular Stoozer Offline stoozing.com Posts: 218 Stoozpot £: 0	Re: Making an over payment on yr mortgage using a CC? Reply #4 - Aug 6^th, 2008 at 8:17pm classed as a cash advance?
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chiefgoobster

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Re: Making an over payment on yr mortgage using a CC?
Reply #5 - Aug 6^th, 2008 at 9:21pm

I've managed to wangle this for the past 4 months. I don't consider myself a wangler so I kinda suprised myself. I got a Cap1 card, 0% purchases till May '09 and am now about twenty quid short of the limit. I made the obligatory phonecall to customer services,hoping I'd get the half-soaked newbie but alas spoke to Mrs Notgonnabudge.Even had a mental picture of YorkshireBoy in the bubble above my head egging me on, but alas my attempts failed.Slow stoozed the dosh as one would.
The Woolwich mortgage I spoke to didn't seem to batter an eyelid - perhaps a smidge of phone flirting helped Wink

and she even offered
to pay ' a bit less off the normal mortgage amount ' to help me out as these are difficult times. Politely declined as I had already left it 2 weeks overdue to pay that months (May) mortgage and I wacked on Julys whilst there as well. They haven't treated it as a cash advance and just shows up as a normal one liner on the Cap1 statement.
Now I just need another 0% card , another deal somewhere or should I be brave, do a Rodent and bet the lot on Ebay 'stuff ' to flog elsewhere ? Decisions decisions.

Anyone know, before I try, if Cap1 would give me another 0% card for purchases or do they have past history of saying " computer says no" ?

Chiefgoobster

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cheeryoleary

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Re: Making an over payment on yr mortgage using a CC?
Reply #6 - Aug 7^th, 2008 at 7:00am

I overpay my mortgage each month using Egg Money bagging the 1% cashback. Not had the balls to use a 0% credit card yet for fear of the transaction being considered a cash advance and messing up my slow stoozing. When paying by CC, I have to explain to the Northen Rock CRA that the 'credit card' has a positive balance - specifically that its an Egg Money card which is a hybrid.

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tightbloke

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Re: Making an over payment on yr mortgage using a CC?
Reply #7 - Aug 7^th, 2008 at 3:59pm

chiefgoobster wrote on Aug 6^th, 2008 at 9:21pm:

I've managed to wangle this for the past 4 months. I don't consider myself a wangler so I kinda suprised myself. I got a Cap1 card, 0% purchases till May '09 and am now about twenty quid short of the limit. I made the obligatory phonecall to customer services,hoping I'd get the half-soaked newbie but alas spoke to Mrs Notgonnabudge.Even had a mental picture of YorkshireBoy in the bubble above my head egging me on, but alas my attempts failed.Slow stoozed the dosh as one would.
The Woolwich mortgage I spoke to didn't seem to batter an eyelid - perhaps a smidge of phone flirting helped Wink

and she even offered
to pay ' a bit less off the normal mortgage amount ' to help me out as these are difficult times. Politely declined as I had already left it 2 weeks overdue to pay that months (May) mortgage and I wacked on Julys whilst there as well. They haven't treated it as a cash advance and just shows up as a normal one liner on the Cap1 statement.
Now I just need another 0% card , another deal somewhere or should I be brave, do a Rodent and bet the lot on Ebay 'stuff ' to flog elsewhere ? Decisions decisions.

Anyone know, before I try, if Cap1 would give me another 0% card for purchases or do they have past history of saying " computer says no" ?

Chiefgoobster

Thanks CG,

I might have made a mistake, didnt think it may be treated as a cash advance, opps, i had better check! Sad

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tightbloke

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Re: Making an over payment on yr mortgage using a CC?
Reply #8 - Aug 7^th, 2008 at 4:05pm

cheeryoleary wrote on Aug 7^th, 2008 at 7:00am:

I overpay my mortgage each month using Egg Money bagging the 1% cashback. Not had the balls to use a 0% credit card yet for fear of the transaction being considered a cash advance and messing up my slow stoozing. When paying by CC, I have to explain to the Northen Rock CRA that the 'credit card' has a positive balance - specifically that its an Egg Money card which is a hybrid.

It would no matter, either you can use a credit card or not, I was about to slow stooze, then thought what if I could put my credit limited on this right away, i am checking that its not a cash advance, ive not had the cash, Just paid off £5000 of my BTL

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tightbloke Regular Stoozer Offline stoozing.com Posts: 146 Boringstoke Stoozpot £: 10500	Re: Making an over payment on yr mortgage using a CC? Reply #9 - Aug 8^th, 2008 at 7:47pm Derbyfella wrote on Aug 6^th, 2008 at 8:17pm: classed as a cash advance? Just an up date, triple checked with FD payment to Northern Crock for £5000 it has gone through as a online retail transaction! Phew!
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tightbloke

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Re: Making an over payment on yr mortgage using a CC?
Reply #10 - Aug 10^th, 2008 at 2:10pm

cheeryoleary wrote on Aug 7^th, 2008 at 7:00am:

I overpay my mortgage each month using Egg Money bagging the 1% cashback. Not had the balls to use a 0% credit card yet for fear of the transaction being considered a cash advance and messing up my slow stoozing. When paying by CC, I have to explain to the Northen Rock CRA that the 'credit card' has a positive balance - specifically that its an Egg Money card which is a hybrid.

Co........ do you still pay the DD monthly to NR? I over pay NR but the whole amount is by DD I just fixed the same amount until further notice. Now I think I will revert back to the normal DD and over pay with my 1% citi cash back card.

I got put through to collections to make the £5000 over payment to my Acct. I will go direct to them each time, i will try and find the direct number Roll Eyes

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tightbloke

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Re: Making an over payment on yr mortgage using a CC?
Reply #11 - Aug 12^th, 2008 at 5:12pm

Right, now I have carried out a lot more factual info re my Northern Rock (ex legal & General BLT)..........

from the horses mouth a very heplful Collections department (AKA arrears I guess Roll Eyes

) the direct number is 0845 603 5508 (you have to listen to the "we can not give advice/disclaimer.

Instead of my DD each month to NR I am now going to make the payment by CC, Im told if you dont pay by DD there is a one off payment per year of £25 however if I pay by CC (with a 1% cash back) I will still be ahead, I will be paying £9000
per 12 months
so I will earn £90 Cash back - £25 = £70....................its even better
If I can use a 0% card for purchases, which I have, but its maxed out Sad

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tightbloke

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Re: Making an over payment on yr mortgage using a CC?
Reply #12 - Aug 14^th, 2008 at 5:44pm

Right, now Im on a mission with my Northern Rock BLT (ie "a bit of the Rodent" is coming out of me Roll Eyes

...........

I have just over paid £2500 with my Citi shell CC (master card with 1% cash back) This card is not 0% purchase.

I have 53 days interest free, now as I can get my money(min of £500) thats over paid back by BAC's 3-4 days later, reserve account/mortgage ( I will allow 5 to be safe) I will ask for this back before I use it to pay the CC by Direct debit, I then intend to repeat this every month.

My CC limit is £3500 with citi shell, and I will be fully using this next month and will watch what happens, the T & C's mention something but im going for it!

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Rodent Long Serving Offline Feel the Fear and do it anyway ! Posts: 1903 Rainbows End Stooze Kingdom Stoozpot £: 9.99	Re: Making an over payment on yr mortgage using a CC? Reply #13 - Aug 14^th, 2008 at 6:22pm All power to your elbow tightbloke First person to exploit the 50 odd day window on an ongoing system ...we should all be doing more to find solutions like this ....keep us posted ........ The Rodent
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NickX Long Serving Offline Looking out for a nice little earner Posts: 577 Probably at the pub Stoozpot £: 38372	Re: Making an over payment on yr mortgage using a CC? Reply #14 - Aug 14^th, 2008 at 6:33pm I like you style tightbloke Keep at it and let us know how it progresses. Cheers.
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