How to maximise point earn from mortgage payments?

Hi

I am about to come into some hard worked for money. So I need to sort out the best option ASSP.

I want to find a credit card - preferably Velocity but I have Qantas point if best deal.

The idea is to get the card- transfer the money into and use the card to off my mortgage, loans etc.

Perhaps a deal where you get a bonus points and 1 point per dollar spent.

I have read. Few T$C and many have a limit between “per month” or “per billing cycle”.

If I have $X thousands transferred spent on to the specific card and transactions all within four weeks - is there any card out there that will give me 1 4 1 for every dollar I spend uncapped per month ?

All input valuable and not post any acual income figures - just several thousand dollars

This is once in a lifetime so I want to leverage it.

I have

30k velocity points
5k Qantas points

Thanks
Joe

As far as im aware, you cant use credit card to pay mortgage.

Thank you.

Hi Duckie

Thanks for you input, but I already make my monthly mortgage payment via a credit card to manage cashflow and earn points.

I am asking how I can best maximise a large cash amount to maximise points in using that cash to pay things via a points focused credit card. Eg. Can I have a credit card it “credit” and make payments earning points in that transaction. Eg. Some cards have limits and rules.

What would be the best way to maximise point hacking using a credit card in this manner. Ta.

Hi Joe,
Congratulations on attaining that hard-worked-for money!

If you have a way of earning FF points on mortgage and loan repayments (and that doesn’t involve either ridiculously high fees or uncompetitive interest rates), please share it. I’ve never worked out a way to do that.

As for your other questions: “Which credit card is best for me in my specific situation?” is one of the most common questions on this website … and a question which we are not legally allowed to answer. Only you and/or your financial advisor can do that. Look at the credit cards available, look at the sign-up bonuses, read the fine print, and work out which card would work for you.

In general terms … many cards have monthly caps. Some are quite high (eg the Velocity High Flyer has a monthly cap of $8000 before FF-point earning is reduced). Other cards have quite low earning rates. Many of the American Express cards do not have caps at all, and have quite a high points earning rate. Again, though, no-one can advise you on your specific situation.

Sorry to not be of more help. But I must admit I’m intrigued about how you earn points from paying off your mortgage!

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