Miles for a refinance
 

Hello, Not sure if this is the right forum for this but here it goes. I need to refinance my current home loan and was wondering if there are any miles I can earn doing it. Currently I'm in the United program and I just opened an AMEX and Marriot Rewards card. I did a search but most of the posts were pretty dated...Thanks, Mayu

I'm pretty sure capital one still has a 100k point offer. Shopping around for the lowest rate would be more advantageous though.

Agree. I checked into this a few years ago and found that the mortgage rate that earned miles was higher than the regular rate; I would have been paying like $50-75 more a month on my mortgage so clearly not worth the cost. Things may have changed in the interim, so be sure to compare rates and not assume that the one that'll get you miles is competitive.

I got a mortgage years ago with the late, un-lamented cheats at Countrywide (now part of the Bank of American and, hopefully, cleaned up) which offered 25K in AA miles. It was quite a struggle to collect as it turned out they took the cost of the miles out of the broker's commission (or, so he told me). But, the rate then was the same with or without miles. Now, it appears to not be so with miles being paid for by the borrower with a higher interest rate.

Apply for another bonus credit card and forget, IMHO, the mortgage miles.

I too looked around for these mileage offers. I refinanced once in Columbus (OH) in the early 2000s and received a 17,500 bonus on Delta. After further research, i found i would've gotten a lower rate with lower closing costs elsewhere, so it clearly isn't worth it. The average note holder probably keeps the loan at least 3 years, so think carefully if it is worth paying any type of premium for mileage. I think not. A better bet might be to list your house when selling it with a broker offering miles based on the price. If there are no hidden fees and you aren't risking the likelihood of getting top dollar for your house, that would be the way to go.