An Uncoinworthy Thread
 

No coin chatter.

What inquiring minds want to know is how to turn multiple mortgage payments into mileage/cashback cash cows.

This is outside the scope of my game since I need to dabble in real estate like I need to swig Tokyo drinking water.:p

But I figure the mortgages could be paid by money orders and the money orders could be paid by a cashback debit card.

Could is the operative word.

So what about this game? Is there a cashback debit card that has the capacity to purchase money orders?

Else, assess the same concept with AMEX or other GCs instead of the debit card buying the MOs (with a cashback card buying those GCs)

Post no details please, just an opinion as to feasability.@:-)

(And yes, this thread is Flyertalkworthy as the game could be played replacing the cashback cards for ff miles earning cards.)

Rewards debit cards are unfortunately going the way of the dodo bird, but there are still a few out there. The new financial regulations have severely limited the amount banks can charge merchants, so they are severely cutting back (read eliminating) debit rewards.

amex launched mortgage payment program with 2 partners, then both partners "died" :D

the debit card thing is pending, keep hope alive considering all the advertising

Hmmm....

Sensing that cash back cards are just not there, but we know the trick works with milesback cards of a particular flavor, for now. Pin-NoPin is the limiting factor.

I haven't been following it that closely, so please correct me if I am wrong, but my understanding is that the fee cap on debit card transactions is expected to apply only to institutions above a certain size. If that is true, smaller institutions might continue to offer rewards for some debit card usage.

Here is my slightly dated posting giving pointers to ~40 debit cards that at least used to earn rewards, including some that earned for PIN transactions: http://www.flyertalk.com/forum/14589538-post24.html .

There's really nothing new here. Those that do this without dabbling in real estate, simply make said money orders payable to cash or themselves. And outside of a few which I heard are cancelled or severely limited at this point, it's no longer possible.

have your mortgage with a local bank where you can go to the branch and make a payment in person.

<hint>you could even pay the mortgage in cash... :eek:

i know. i've seen me do it.... :p

there's gotta be some good local banks down there in Tejas. I can't see mortgage rates getting any lower than there are right now if you're in a refi frame of mind....

Gotta be paper or electronic - cash and carry won't work - multiple properties.