Sunday, May 27, 2007

Mortgage payments: Charge'm to the credit card

The Wall Street Journal is reporting that American Express has joined in partnership with two leading mortgage companies in the U.S to allow customers to charge their monthly mortgage payments to their credit card. This program has many pros and cons to it. Rebate programs, such as travel, hotel or cashback awards with AMEX could eventually offset the one time $395 fee, but some may find using their credit card to pay their mortgage ends up costing them more in the long run if they arn't paying the credit card off monthly. Regardless, this is an interesting development in how credit cards can be used in the United States.