Advice for large purchases [Consolidated]
Feb 28, 2011 | 3:52 pm
#1
Original Poster
Join Date: Feb 2010
Location: DAL
Posts: 31
Advice for large purchases [Consolidated]
I will be paying off a sizable auto loan (~10k) and possibly the remainder of a student load (~7K) within the next few weeks, just wondering if any FT members have had recent experience with this or could recommend a particular card to use?
I currently have:
SPG Amex
SPG Bus. Amex
New OPP Continental Visa
Chase BA Visa
Thanks!!!
I currently have:
SPG Amex
SPG Bus. Amex
New OPP Continental Visa
Chase BA Visa
Thanks!!!
Feb 28, 2011 | 4:41 pm
#2
In Memoriam
Join Date: Apr 2001
Location: dallas texas usa
Programs: aa plt 4.9MM LTAC
Posts: 14,828
wow!....lot's of ft'ers would like to know of firms who allow cc's to be used to pay off loans....
are there any extra costs when doing this?
re your?, use the card that gives you the pts, etc that you want....
good luck...
are there any extra costs when doing this?
re your?, use the card that gives you the pts, etc that you want....
good luck...
Feb 28, 2011 | 5:48 pm
#5
Join Date: Mar 2010
Location: Texas
Posts: 229
My auto-lender won't take credit card payments. Neither will PLUS (parent student-loan). You're likely out of luck here, but your first step would be to find out if either of your payees will accept a card (and if so, which ones). If they will, put your spend on whichever card goes to your current program of choice.
Feb 28, 2011 | 6:29 pm
#7
Join Date: Feb 2011
Location: New York, NY
Programs: Delta Silver, Continental, AA, SPG Gld, PCR Plat, MR
Posts: 49
As my professor in Business school used to always say "it depends". You want to get the highest value out of your points. In general your answer is probably SPG since the points transfer at the highest value for hotels (comparable to all other programs) or including the bonus when you transfer to AA. And if you spend over $30k/yr you'll hit SPG Gold status.
If you travel a lot internationally you might consider the Continental or BA card but you will only get the best value flying in first class.
If you travel a lot internationally you might consider the Continental or BA card but you will only get the best value flying in first class.
Feb 28, 2011 | 9:37 pm
#8
Original Poster
Join Date: Feb 2010
Location: DAL
Posts: 31
Thanks everyone for the responses. The limit on my BA and CO cards will cover the paydowns. Still thinking of calling Amex about an exception. My auto loan provider only accepts check/transfer for payments, but has a CC payoff option. I have yet to inquire about the fees. Since I already have a BA voucher from last year I am thinking it may be best to try for the SPG or CO spending threshold this time around. Of course, I would still like nothing better than to drop by their offices with a truckload of coins 
Mar 1, 2011 | 9:16 am
#10
Join Date: May 2010
Location: SFO
Programs: AA LT Gold, Amex Plat
Posts: 50
Citi allows people to pay their student loans (monthly or in full) via Credit Card. The transaction is handled via Paypal or over the phone with a rep. No fee associated with it.
Mar 1, 2011 | 10:05 am
#11
Join Date: Oct 2010
Posts: 3
Thanks!
Mar 2, 2011 | 5:59 pm
#15
Original Poster
Join Date: Feb 2010
Location: DAL
Posts: 31
I failed to mention the reason for paying off these debts is 2010 bonus payout next week. I'll be debt free at 24, just looking to squeeze some extra points out of paying everything off.