I am about to pay the balloon on an end of lease finance vehicle, and I want to earn points via a credit card (or some other clever way).
I believe the fee will be via direct bank transfer or Bpay only.
I have the money available in a separate account, but was hoping to transfer onto Credit Card and pay via that to earn points.
I understand that most credit card companies will not pay points on Bpay transactions, however, does this apply if paying Bpay via PayPal?
Are there any other clever ideas people have to maximise the return?
Apologies if people have simple answers to this, as I could not find an answer elsewhere.
BPay to Earn Points
Scorn on 22/11/2018 - 15:31
Comments
There is no way you will be able to pay off the loan by either credit card or PayPal without lender making you pay the credit card or PayPal fee. And the fee is going to be more expensive than points you'd earn.
When receiving party supports BPay, they pay something like $1 per processed transaction regardless of the total amount paid. So if you pay $5,000 using BPay, the receiving party will still get $4,999. Nobody is going to haggle over $1.
However, if they'd accept PayPal or credit card payments, they might receive only $4,800. Why should they absorb the cost? You owe them $5,000, they want $5,000 to come into their account - not $4,800.
https://www.easybillpay.com.au/
This website can pay via bank transfer or BPAY. Depends of your credit card earn rate, this might make sense to Bpay. I think the cost is 0.8% of the transaction.
Thanks for this. I just had a look. Credit card excludes AmEX. It seems EBP has eased the surcharge only to the amount over $1k per month and no ongoing monthly fee. The problem with EBP is once many start using this service, soon credit card companies will treat EBP as cash advance/cash transaction and no points will be awarded.
Milk the cow while it still last.
How does one pay BPay via PayPal?