There are a few threads discussing the mortgage issue. I have not come across an case where a mortgage company/bank will accept a credit card payment.

From what I can tell, the best situation is to open an AA AAdvantage Mileage Checking Account. I have just applied for it, so I am waiting to see if I understood the terms correctly. As I understand it, you get --

-- 0.50% Annual Percentage Yield (APY) for balances $10,000.00 and greater
-- 0.25% APY for balances between $2,500.00 and $9,999.99
-- 0.00% APY for balances less than $2,500.00 (with a fee of $15.00/month)
-- $100.00 minimum opening balance
-- Free Bill Pay
-- Free TM Card upon request
-- Four (4) reimbursed ATM withdrawals per statement cycle (up to $2.50 per transaction)

-- Earn 1000 miles for opening a Mileage Checking Account
-- Earn 5000 miles for signing up for payroll direct deposit into Account
-- Earn 2000 miles for using bill pay service for 12 months
-- Earn 100 miles for every $1000.00 maintained per month in your Account

As I see it there are pros and cons --

PRO
-- miles for keeping $$$ in the account
-- reimbursed for 4 ATM transaction/cycle (month)
-- miles for bill paying (only need 1 recurring bill to qualify) and direct deposit

CON
-- rather hight minimum balance to avoid monthly service charge
-- interest rate not the greatest

You could accrue miles by using this account primarily to pay bills (and keep a higher balance = more miles/month). Or at least transfer your mortgage payment from you regular checking account to this account a few days before the payment is due, and use the automatic Bill Pay.



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Da DOK