What Bills Can You Pay With Your Credit Card?
Monthly bills seem to be growing every year. What used to be one cable package, has turned into three streaming services, two phone bills, and internet, all from different providers. That doesn’t take into account household utilities like water, heating, electricity, and more. But what if there was a way to be rewarded for paying your bills in a timely manner?
Some financial institutions offer reward cards that give you a percentage back with each purchase. The thrill of being rewarded by spending may have you asking yourself "is it good to pay bills with credit cards?"
The short answer is, entertainment and nonessentials can usually be paid with a credit card with no fees. Services, utilities, and taxes, can often be paid with a credit card but with a processing fee. Loan payments, are usually check or bank withdrawal payment only.
Getting the Most Cashback from your Bills
Depending on your credit card, you could be earning significant cashback when paying your bills. Let's take a look at each option more in-depth, to see how to get the most cash back while avoiding unnecessary fees.
Note- This article is not financial advice. Please spend responsibly when using your credit card.
Can you Pay for Streaming Services with a Credit Card?
Yes. 95% of streaming services accept credit cards as payment.
Even if you rarely use a streaming service, you won't risk canceling it due to FOMO. Remember Tiger King? Paying for streaming services will get you cashback rewards so great, it should be criminal. Just ask Joe Exotic.
All of the top streaming services can be paid for with credit, from Hulu to Peacock to Spotify. On estimate, the average American spends $40 a month on streaming services. By using your Visa Empower card on each bill, you can passively rack up rewards without added expenses.
Can You Pay Your Utility Bills with a Credit Card?
Whether or not your home utilities provider offers credit cards as a valid form of bill payment is a toss-up. The best bet is to assume they accept credit cards, but with an additional convenience and processing fee.
Paying with Cable, Phone, and Internet with Autopay
Cable, internet, and cell phone companies are happy to ditch paper bills and, for the most part, will accept credit cards as a valid form of payment. These bills usually don’t have additional processing fees and can be set up with autopay.
Autopay is a great way to stay ahead of any reoccurring bills and will ensure your continued service. Setting up autopay for your phone is a no-brainer, as credit companies have begun to offer cellphone protection as an added benefit of some of their cards. By paying your phone bill with your Visa Empower card, you could be reimbursed for loss or damage of your cellphone and get hundreds of dollars back for repairs.
Looking to Pay your Rent or Mortgage with your Credit Card?
While paying your rent or mortgage would be a surefire way to build your credit, you’ll have to turn to other bills to up your score. It's highly unlikely your lender or landlord would accept credit cards as a form of payment. If you are so inclined to pay off your rent or mortgage with a credit card, there are 3rd party solutions.
You can pay these companies the equivalent of your mortgage/rent plus a processing fee, and they will cut your mortgage lender/landlord a check. These processing fees could greatly inflate your bill, so check the percentage before paying for your home or apartment with a credit card.
Paying off your Car Loan with a Credit Card
Loans, like mortgages, are unlikely to be able to be paid with a credit card. If they can, they charge a significant processing fee. This fee will be much greater than any cashback you earn.
Doing Your Taxes with a Credit Card
If you’ve done your taxes (you should have at least once if you're reading this article) then you’re likely aware that you can pay some taxes with your credit card. But, once again, processing fees apply.
This is just a brief list of the common bills and services that we usually pay each year. If you are punctual in paying your monthly bills, and see the potential of growing your credit and your cashback, then consider a Cashback Credit Card, like Visa Signature Empower Card.