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-   -   Pay >$5000 mortgage with purely online MS? (https://www.flyertalk.com/forum/manufactured-spending/1671516-pay-5000-mortgage-purely-online-ms.html)

princesakura Apr 12, 2015 11:23 am

Pay >$5000 mortgage with purely online MS?
 
I've been trying to pay my mortgage with a credit card for a while, but haven't found a good solution yet. Preferably a method entirely online since I'll be moving overseas in a few months. Also, the monthly payment is $7500, over the monthly limits of some methods.
Here are the methods I've considered and why I think they don't suit me.
Evolve: My lender can be paid through Evolve, but Evolve can only pay a payee once per month to a limit of $2999.
Chargesmart: Doesn't accept the mortgage account number even though the lender is listed.
Redbird: Sounds like the best solution, if my lender is registered so isn't subject to the $5000 monthly pay limit. But, I prefer a purely online solution.
MO: Prefer online solution.
Serve: After this month only $1500 of debit card MS is possible on my Softserve.
Any advice from the pros would be greatly appreciated; I only got into MS a few months ago.

indelible Apr 12, 2015 1:11 pm

redbird- billpay checks to your lender. Try using similar names to bypass the $5k limit. like Citibank and Citibank mortgage or chase and chase bank.

xSTRIKEx6864 Apr 12, 2015 3:26 pm

You could billpay $5000 from RedCard/month and then Evolve for the remaining $2500?

Stoughton Apr 12, 2015 7:18 pm

You've got a mortgage for over $1.5m and you're coming here for financial advice?

nistah Apr 12, 2015 8:42 pm


Originally Posted by Stoughton (Post 24655762)
You've got a mortgage for over $1.5m and you're coming here for financial advice?

LMAO, maybe he/she got rich from all their MS activity ;)

Wross1 Apr 12, 2015 8:59 pm


Originally Posted by Stoughton (Post 24655762)
You've got a mortgage for over $1.5m and you're coming here for financial advice?

Seriously. Does NetJets even have a miles program?

But maybe it's a weird one like a 5 or 10 year?

ibleed0range Apr 12, 2015 9:06 pm

How do you load redcard from oversea??

jonnydoe1234 Apr 12, 2015 9:36 pm

"Evolve can only pay a payee once per month to a limit of $2999"

Wrong. Each payment can be $2999 (max per day), but you are allowed $10K/month in the aggregate.

Alcibiades Apr 12, 2015 10:23 pm

EvolveMoney

Mamibear Apr 13, 2015 5:50 am

MoneyGram online billpay

$2500 Chase mortgage 2-3 days has 9.99 fee

fees vary per biller depending on amount.

rtraveler Apr 13, 2015 6:25 am


Originally Posted by princesakura (Post 24654269)
Also, the monthly payment is $7500.

your mortgage payment is $7,500? Holy crap, that's big. You must live in a mansion. How much of that payment is interest?

PtsJunkieWI Apr 13, 2015 1:17 pm


Originally Posted by jonnydoe1234 (Post 24656212)
"Evolve can only pay a payee once per month to a limit of $2999"

Wrong. Each payment can be $2999 (max per day), but you are allowed $10K/month in the aggregate.


Under the new paradigm, you choose a delivery date...
if I make a payment today for, say $2500, and schedule it for next Tuesday...
and then come back tomorrow and schedule a payment for $1000 and also schedule it for next Tuesday
Does that work? Avoiding the $2999 daily max, but sort of consolidating payment to the payee?

I'd like my mortgage payments to arrive on the same date, to avoid confusion.

(I've been sending in money orders each month, because I thought ST didn't post miles for Evolve. But I'd love to make Evolve my friend again.)

miadeals Apr 13, 2015 4:45 pm


Originally Posted by Stoughton (Post 24655762)
You've got a mortgage for over $1.5m and you're coming here for financial advice?

I don't know about all that...down here in miami beach, a $300k loan will run you about $2700 PITI (assuming you have an escrow account, etc.) right now. So we're lookin at about $850k...which is about a 3br condo in a good building, or a 2br in a very good (but not top end) building.

Plus association fees.

More impressive is a $250k+ yearly income, putting them squarely in the top 2-3% of households, with at least $85k in disposable income...still want those free miles!

roki Apr 13, 2015 4:54 pm


Originally Posted by miadeals (Post 24660232)
More impressive is a $250k+ yearly income, putting them squarely in the top 2-3% of households, with at least $85k in disposable income...still want those free miles!

My business markets to people with $400K+, and there are over 17,000 households within a 10 mile radius of our three locations (according to our super expensive marketing data).

miadeals Apr 13, 2015 5:19 pm


Originally Posted by roki (Post 24660271)
My business markets to people with $400K+, and there are over 17,000 households within a 10 mile radius of our three locations (according to our super expensive marketing data).

Then you are set up near a lot of 1%ers.

There are 320 mil here, so the top 1% (around $400k) has 3.2 mil people here in the US. Going to be concentrated near cities...not that many big cities...17k doesn't seem unreasonable if you're picking the right spots. (We're down to "indianapolis" if we get all the way down to #12 in cities, or "detroit" at #14 in MSA's...)

I know households with 250k+ income...I'm just saying I know hundreds and hundreds more households that don't. It isn't *that* common here, even in miami. Like, 3 in a 100...or "3%." Or 1 in a 100 for those half millionaires. Maybe a little higher in just miami...but still...


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