Hello all, maybe a weird question but I don’t see anything wrong with it let me know your thoughts. Recently got a new car & the chase sapphire preferred. Is it wise to pay the car payment through this card to get points? Obviously would be paying the CC bill off every month but is there any cons to this? The only goal is to get points.

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It’s a good idea provided that (1) there is no added fee for paying with credit card and (2) you really do pay off the CC every month.

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agree with Accenture 1

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Update: chase auto finance does not let you, it can only be a actual account w/ a routing number make sense. Thought I found a easy points loop hole lol

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Look into a Bilt credit card. It’s through Mastercard. It essentially serves as a bank account where it gives you an account and a routing number to pay things like loans, rent, mortgage. But it is a credit card that collects points. So you avoid a fee, pay through a ‘bank account’ and collect points!

Lmk if you want a referral

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Uuh this Bilt sounds useful

I bought a whole car in one go on my Sapphire Preferred. Paid it off immediately as I had the cash. No regrets.

smart

I tried to do this when I bought my car (2016), and they wouldn’t let me use a Chase credit card despite Chase holding my car loan! I’d do it in a heartbeat if they would allow it!

I was also told I couldn’t pay my car loan with a credit card. Very disappointing

I’ll have to look into it because I too am using a chase card on a chase loan. I’ll update if it doesn’t let me!

Nick from Frequemt miler bought a minivan at a car dealership on an Amex when they were running 10x for small businesses, and confirmed that it would code as such beforehand. Worth checking with dealerships as they may be amenable to cc/split tender. Walked out with a cool 350k Amex points.

I did something like this with a bank in Puerto Rico, at first they said I couldnt, then I "fell" behind on payments (25 days late) a couple of times, they didnt report to credit bureaus but tagged me as high risk and said I could pay however I wanted. I used my CSR to payoff the whole loan, then transferred the balance to a zero APR card, paid 3%. Then paid it off in the 21 months or so I had to pay it all off.

I did the math and saved like $9k. This was s used car so the loan was high interest (10% I think)

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