Originally Posted by
jake314
3. There shouldn't be. Payments from Cardit look like any other payment. As long as your lender doesn't require principal to be paid through a different channel, it shouldn't be a problem.
I just went through the first few steps on the website to see how it worked, and only one amount can be entered for the payment. When I pay directly to my lender online, I have to enter any extra amount as either extra principal or extra escrow. Without my lender knowing what the extra amount is for, it may not be applied as extra principal. More than likely, it may be applied as a partial payment toward the next payment, which may include some interest rather than all principal. I would like to use this service if Amex gets approved, but I also want to pay extra principal and am not certain that it would be applied correctly.