I have payments set up where the Finance Co takes money straight from my bank through electronic routing and all of that. Unfortunately this doesn't let me rack up rewards points and it seems like such a waste!
Is there a way to pay via CC so that I can earn points for my cash? Thanks!
Posted Feb 15, 2011, 11:42 PM UTC
My Student loan company won't accept any kind of Credit Card. It's Electronic check or ACH only. The same thing with my mortgage company. I tried doing this a long time ago and just gave up.
Do you mind to clarify what ACH means? Thank you.
Automated Clearing House. A network of financial institutions that facilitate electronic transfers. Like a bank wire, but a different method. Most online Bill Payments use ACH.
In some circles, it's refered to as Automatic Withdraw.
oh, well thank you for clarifying!
Paypal the money to yourself. You'll have to cover the paypal fees though... depending on the rewards it may be worth it?
I know you can with discover card (just use their bill payer to pay your car payment or Student loan payment). You get 1% for all of it.
Keep in mind however, some lenders (like Federal Direct Student Loans) will give you a generous discount on your interest rate if you do electric debit...this negates the CC points in my case.