Comments on: CardIt: Too Much for Paying My Mortgage with Credit Cards http://www.thesunsfinancialdiary.com/personal-finance/cardit-too-much-for-paying-my-mortgage-with-credit-cards/ Fri, 20 Nov 2009 19:09:54 -0800 http://wordpress.org/?v=2.8.6 hourly 1 By: Angie http://www.thesunsfinancialdiary.com/personal-finance/cardit-too-much-for-paying-my-mortgage-with-credit-cards/comment-page-1/#comment-41262 Angie Wed, 12 Mar 2008 19:34:44 +0000 http://www.thesunsfinancialdiary.com/personal-finance/credit-cards/cardit-too-much-for-paying-my-mortgage-with-credit-cards/#comment-41262 Do your homework done first if you are thinking about taking out a loan or mortgage. The time spent looking into your options can save you a good deal of money later on. Do your homework done first if you are thinking about taking out a loan or mortgage. The time spent looking into your options can save you a good deal of money later on.

]]> By: Sun http://www.thesunsfinancialdiary.com/personal-finance/cardit-too-much-for-paying-my-mortgage-with-credit-cards/comment-page-1/#comment-28922 Sun Wed, 21 Nov 2007 05:34:15 +0000 http://www.thesunsfinancialdiary.com/personal-finance/credit-cards/cardit-too-much-for-paying-my-mortgage-with-credit-cards/#comment-28922 NCN: The reason for not trying to pay off mortgage as soon as possible is that I believe in the long term, the money can get better return when invested in stocks than used to pay mortgage which is at a fixed rate. Of course, that depends on what kind of return I can get from the stock market. I haven't done any calculation so I don't know exactly how much I will gain from the stock market. But if I have a loan of 30 years at 6%, there's a good chance that the return from stock market can beat that. NCN: The reason for not trying to pay off mortgage as soon as possible is that I believe in the long term, the money can get better return when invested in stocks than used to pay mortgage which is at a fixed rate. Of course, that depends on what kind of return I can get from the stock market. I haven’t done any calculation so I don’t know exactly how much I will gain from the stock market. But if I have a loan of 30 years at 6%, there’s a good chance that the return from stock market can beat that.

]]> By: NCN http://www.thesunsfinancialdiary.com/personal-finance/cardit-too-much-for-paying-my-mortgage-with-credit-cards/comment-page-1/#comment-28291 NCN Thu, 15 Nov 2007 15:51:42 +0000 http://www.thesunsfinancialdiary.com/personal-finance/credit-cards/cardit-too-much-for-paying-my-mortgage-with-credit-cards/#comment-28291 Could I ask why you don't simply focus on paying off the mortgage as soon as possible, instead of moving debt from place to place? NCN Could I ask why you don’t simply focus on paying off the mortgage as soon as possible, instead of moving debt from place to place?
NCN

]]> By: www.topcreditcardsadvice.info » CardIt: Too Much for Paying My Mortgage with Credit Cards http://www.thesunsfinancialdiary.com/personal-finance/cardit-too-much-for-paying-my-mortgage-with-credit-cards/comment-page-1/#comment-28232 www.topcreditcardsadvice.info » CardIt: Too Much for Paying My Mortgage with Credit Cards Thu, 15 Nov 2007 06:10:49 +0000 http://www.thesunsfinancialdiary.com/personal-finance/credit-cards/cardit-too-much-for-paying-my-mortgage-with-credit-cards/#comment-28232 [...] Sun placed an observative post today on CardIt: Too Much for Paying My Mortgage with Credit Cards.Here’s a quick excerpt:In other words, a $1000 payment with Cardit will produce exactly $44.90 in fees. The interest rate of the credit card remains unaffected as do the reward plans. Your credit card company views it the same as any other transaction. … [...] [...] Sun placed an observative post today on CardIt: Too Much for Paying My Mortgage with Credit Cards.Here’s a quick excerpt:In other words, a $1000 payment with Cardit will produce exactly $44.90 in fees. The interest rate of the credit card remains unaffected as do the reward plans. Your credit card company views it the same as any other transaction. … [...]

]]> By: www.bestdebtarticles.info » CardIt: Too Much for Paying My Mortgage with Credit Cards http://www.thesunsfinancialdiary.com/personal-finance/cardit-too-much-for-paying-my-mortgage-with-credit-cards/comment-page-1/#comment-28231 www.bestdebtarticles.info » CardIt: Too Much for Paying My Mortgage with Credit Cards Thu, 15 Nov 2007 06:07:06 +0000 http://www.thesunsfinancialdiary.com/personal-finance/credit-cards/cardit-too-much-for-paying-my-mortgage-with-credit-cards/#comment-28231 [...] Sun put an intriguing blog post on CardIt: Too Much for Paying My Mortgage with Credit Cards.Here’s a quick excerpt:In other words, a $1000 payment with Cardit will produce exactly $44.90 in fees. The interest rate of the credit card remains unaffected as do the reward plans. Your credit card company views it the same as any other transaction. … [...] [...] Sun put an intriguing blog post on CardIt: Too Much for Paying My Mortgage with Credit Cards.Here’s a quick excerpt:In other words, a $1000 payment with Cardit will produce exactly $44.90 in fees. The interest rate of the credit card remains unaffected as do the reward plans. Your credit card company views it the same as any other transaction. … [...]

]]> By: Sun http://www.thesunsfinancialdiary.com/personal-finance/cardit-too-much-for-paying-my-mortgage-with-credit-cards/comment-page-1/#comment-28214 Sun Thu, 15 Nov 2007 02:44:36 +0000 http://www.thesunsfinancialdiary.com/personal-finance/credit-cards/cardit-too-much-for-paying-my-mortgage-with-credit-cards/#comment-28214 DRoth: Yes, I may have arrived my conclusion too fast. However, with a card that pays 3% cashback, you will have to spend $3919 on monthly mortgage payment to just break even (whether mortgage payment is eligible for cashback is another question) and there aren't many cards give 3% back. The idea is fine and the service is quite convenient, but all of these don't seem to justify the high fee, in my opinion. FinanceIsPersonal: Finding a good bargain and getting cashback from credit card don't compete against each other that you get one but don't get the other. You can have both. How about save 5% to 10% on your purchase and get an extra 1 or 2% from credit card rewards program? DRoth: Yes, I may have arrived my conclusion too fast. However, with a card that pays 3% cashback, you will have to spend $3919 on monthly mortgage payment to just break even (whether mortgage payment is eligible for
cashback is another question) and there aren’t many cards give 3% back. The idea is fine and the service is quite convenient, but all of these don’t seem to justify the high fee, in my opinion.

FinanceIsPersonal: Finding a good bargain and getting cashback from credit card don’t compete against each other that you get one but don’t get the other. You can have both. How about save 5% to 10% on your purchase and get an extra 1 or 2% from credit card rewards program?

]]> By: FinanceIsPersonal.com http://www.thesunsfinancialdiary.com/personal-finance/cardit-too-much-for-paying-my-mortgage-with-credit-cards/comment-page-1/#comment-28181 FinanceIsPersonal.com Wed, 14 Nov 2007 20:48:07 +0000 http://www.thesunsfinancialdiary.com/personal-finance/credit-cards/cardit-too-much-for-paying-my-mortgage-with-credit-cards/#comment-28181 I've never been a big fan of credit card rewards programs... They're just too much effort to get 1% or 2% back on the money I spend... It's a lot easier to find a big bargain and save 5% to 10% on my purchases than to make sure I use my credit card every single time. I’ve never been a big fan of credit card rewards programs… They’re just too much effort to get 1% or 2% back on the money I spend… It’s a lot easier to find a big bargain and save 5% to 10% on my purchases than to make sure I use my credit card every single time.

]]> By: DRoth http://www.thesunsfinancialdiary.com/personal-finance/cardit-too-much-for-paying-my-mortgage-with-credit-cards/comment-page-1/#comment-28169 DRoth Wed, 14 Nov 2007 18:27:20 +0000 http://www.thesunsfinancialdiary.com/personal-finance/credit-cards/cardit-too-much-for-paying-my-mortgage-with-credit-cards/#comment-28169 I see your point, but you may be a little quick to arrive at your conclusion here. First off, to blanket 4.49% is misleading: average mortgage payments (atleast where I live) are usually higher than that. My math says a $2,000 payment ends with a total fee closer to 3.4% . . . which is a helluva lot better than the 5% late fee I had to tack on a few months ago. I see your point, but you may be a little quick to arrive at your conclusion here. First off, to blanket 4.49% is misleading: average mortgage payments (atleast where I live) are usually higher than that. My math says a $2,000 payment ends with a total fee closer to 3.4% . . . which is a helluva lot better than the 5% late fee I had to tack on a few months ago.

]]> By: maryland terps http://www.thesunsfinancialdiary.com/personal-finance/cardit-too-much-for-paying-my-mortgage-with-credit-cards/comment-page-1/#comment-28162 maryland terps Wed, 14 Nov 2007 17:26:54 +0000 http://www.thesunsfinancialdiary.com/personal-finance/credit-cards/cardit-too-much-for-paying-my-mortgage-with-credit-cards/#comment-28162 Our mortgage is with Countrywide so we got the Countrywide Visa. This card gives you 2% on all purchases if you have the rewards credited to your mortgage. So for every $2500 charged we get $50 off our mortgage. We still use the Chase Freedom for 3% off gas & groceries. Our mortgage is with Countrywide so we got the Countrywide Visa. This card gives you 2% on all purchases if you have the rewards credited to your mortgage. So for every $2500 charged we get $50 off our mortgage. We still use the Chase Freedom for 3% off gas & groceries.

]]> By: lulu http://www.thesunsfinancialdiary.com/personal-finance/cardit-too-much-for-paying-my-mortgage-with-credit-cards/comment-page-1/#comment-28158 lulu Wed, 14 Nov 2007 16:48:15 +0000 http://www.thesunsfinancialdiary.com/personal-finance/credit-cards/cardit-too-much-for-paying-my-mortgage-with-credit-cards/#comment-28158 however there are cases where you can use a card to make payments and get that cash back. I used one of my other cards to pay my rent because there was no fee associated with paying the rent by card. Since I now carry a balance on the card it is no longer profitable for me to use it this way, but when I get the balance back down to zero it will be worth it. however there are cases where you can use a card to make payments and get that cash back. I used one of my other cards to pay my rent because there was no fee associated with paying the rent by card.

Since I now carry a balance on the card it is no longer profitable for me to use it this way, but when I get the balance back down to zero it will be worth it.

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