Hi all, I wish to pay off two personal loans which both need to be paid by BPAY. Unfortunately, Sniip won't accept Credit Card payment.
Total amount is around $15000 which I am thinking if possible, to pay it off but also get some points back. I have AMEX Charge card and a Citi Premier MC.
Any suggestions?
Yes, my fruit?
If you pay by credit card or charge card, you have to cough up the cash in a month anyway. Is this just for points or you postponing your repayments? Zip has Bpay for $2.50 a pop if you want to earn points.
mainly for the points
Zip Bpay is free.
Zip Bpay is free.
Payments may take up to 5 business days to reach your Biller. Certain Biller exclusions apply including but not limited to credit institutions, gambling, share trading, personal loans and DEFT rent. A $2.50 processing fee may be payable for each bill processed using Zip Money. The amount of the fee will be advised and authorised by You at the time of any relevant bill payment. Exceptions may apply. ® Registered to BPAY Pty Ltd ABN 69 079 137 518
They wrote to us late Nov 2022 saying bpay fees no longer apply from 30 Jan 2023 for accounts with limits over $1K
Biller codes?… May not be available on zip either.
Good chance payment of personal loans via credit card is blocked.
It is definitely blocked.
personal loan + amex charge card
what in the world kind of finances do you have
Based on the 12%+ personal loan interest, it probably be more profitable to pay it off ASAP than looking for a point strategy.
I'm guessing next month you'll want to know how to pay off your credit card bill using another credit card.
I have the cash now so all good. Either pay it off with cash or by credit card and pay the credit card in full next month but earning some points.
What did the bank say when you asked them?
Really curious to know why you can not pay by card?
ZIP. I just paid $20,000 bill in increments as zip only allows $1500 max per transaction.
The $2.50 fee may be charged, but I havent as yet
Nah it doesn't shouldn't work for personal loans.
BPAY Billers are categorised and there are certain funding sources allowed based on the biller, so that you aren't paying credit with credit (search here). Basically anything that doesn't have credit card as an option should be blocked by Zippay.
I've also recently done about $50k via ZIP at $1,500/transaction and not been charged the $2.50 fee.
No bpay $2.50 fee if account limit > $1K
No bpay $2.50 fee if account limit > $1K
I have so many questions here.
Why this post attracted "Oh Lord" response?
What's wrong with "personal loan + amex charge card"? Plenty of people have both personal loan and credit card.
In terms of the post:
* Does Amex not have BPay facility at all? Is Amex charge card different?
Are you sure your loan accepts payment from credit cards? I believe you are not allowed to repay a loan with another loan, e.g., pay home loan using credit card or pay one credit card using another.
If paying by credit card is feasible, maybe sign up a new credit card with bonus points or 0% balance transfer offer.
If you are for the (unworthy) standard points, you'd better just pay the loan off ASAP.
Plenty of people have both personal loan and credit card.
he has a charge card not a credit card.
Oh lord