American Express Membership Rewards - UK Amex - Paying mortgage with Amex

Hi,

Just wondering, my monthly mortgage is around £6000-£8000 and was just wondering, can I pay my mortgage with my UK Amex Platinum Charge Card?

Is this quite a common thing to do?

I've heard of people in America doing this...

Any people in the UK doing it?

Thanks.

well, since AHMI went bankrupt and indymac was seized... :D

Don't see how you could do it in the UK really unless you decided to withdraw the cash and pay it that way (and pay the 3%).

I've never seen a mortgage company here that will accept Amex as a payment method either.

Can't be done. You can, however, often pay utility bills on plastic (council tax, water etc) even if its not mentioned on the bill. Look on the suppliers website and a credit card option often appears (eg BT).

However .... even if you can pay your council tax on plastic, its VERY unlikely they'll take Amex.

Paying credit with more credit. Ain't life grand.

Hi,

Just wondering, my monthly mortgage is around £6000-£8000 and was just wondering, can I pay my mortgage with my UK Amex Platinum Charge Card?

Is this quite a common thing to do?

I've heard of people in America doing this...

Any people in the UK doing it?

Thanks.

It is actually pretty uncommon in the US. Most mortgage companies will not accept credit cards - MC, V, or AMEX. People who pay mortgages (or often rent) with cards need to go through a 3rd party processor who generally charge a fee of around 2% of the transation amount - negating the value of any rewards earned

Can't be done. You can, however, often pay utility bills on plastic (council tax, water etc) even if its not mentioned on the bill. Look on the suppliers website and a credit card option often appears (eg BT).

However .... even if you can pay your council tax on plastic, its VERY unlikely they'll take Amex.

Yep, you can pay couincil tax with credit cards, however there is a surcharge and you're right, they don't take Amex.

Yep, you can pay couincil tax with credit cards, however there is a surcharge and you're right, they don't take Amex.

Apparently some councils don't surcharge. Tower Hamlets did but it was only 1.25% which still made it worthwhile to use a BMI Mastercard (2 miles per £1, miles worth 1.5p-2p each so getting £3-£4 back for every £1.25 in card fees). I'm now in Kensington & Chelsea and they don't take plastic at all.

London Borough of Barnet take MC and Visa for council tax with no surcharge. ^

Probably for parking and other transgressions too, though I wouldn;t know about that. :eek:

People who pay mortgages (or often rent) with cards need to go through a 3rd party processor...

Do you have any examples of such 3rd party processors? Do they only process mortgages, or do they process anything for anyone?

Do you have any examples of such 3rd party processors? Do they only process mortgages, or do they process anything for anyone?

Just about any 3rd party processing agent is going to pass along a fee to you equal to or greater than the fee that they pay to AmEx. With those fees in the 3% range it is just not worth it. You can buy points outright for 2.5 cents, so paying more than that just to run a transaction via the AmEx is throwing money away.