This can't be a new idea but it certainly is over caffeinated.
Our mortgage payments are automatically deducted from our credit-union checking account each month. This puts a fairly high average balance in our lowest-interest account.
Theoretically I could charge the mortgage to my credit card, also theoretically generating a 1.5% annual rebate. Assuming the credit union lets us get away with it, would the credit-card company declare it an "unauthorized transaction" ineligible for the rebate? I've parsed my cardholder agreement for the M word (no hits) but it includes vague prohibitions on "finance charges", "balance transfers", and other potentially mortgage-related terms. I'm pretty sure the company wouldn't hesitate to declare an unauthorized transaction when it thinks it sees one.
Yes, it's only $25K/year, but that's $375 (about half a longboard) and the percentage rebate can significantly affect the bias of the mortgage vs investments reciprocated diatribe.
Any experiences or advice to report before I take aim at this windmill?
Our mortgage payments are automatically deducted from our credit-union checking account each month. This puts a fairly high average balance in our lowest-interest account.
Theoretically I could charge the mortgage to my credit card, also theoretically generating a 1.5% annual rebate. Assuming the credit union lets us get away with it, would the credit-card company declare it an "unauthorized transaction" ineligible for the rebate? I've parsed my cardholder agreement for the M word (no hits) but it includes vague prohibitions on "finance charges", "balance transfers", and other potentially mortgage-related terms. I'm pretty sure the company wouldn't hesitate to declare an unauthorized transaction when it thinks it sees one.
Yes, it's only $25K/year, but that's $375 (about half a longboard) and the percentage rebate can significantly affect the bias of the mortgage vs investments reciprocated diatribe.
Any experiences or advice to report before I take aim at this windmill?