Hello fellow mustachians,
I wanted to buy something from a shop. I could have used my credit card ( cashback amex cards of course), but i forgot to get them. Owner agreed that I need to pay them only later once delivery is done and he sent the Qr bill by email to me.
Now , had I payed the amount in the shop using credit cards, i would have got some cashback points.
If I pay via QR bill, I assume money directly goes from my bank account ( as domestic payment ).
Question is can I pay the Qr bill via âsome appâ which uses my credit card detailsâŠ
I would also like to extra polate this scneario to understand , can I pay my taxes, other bills which are being sent as QR bill to be payed âsomehowâ using my credit card ?
AFAIK, no Swiss credit card issuers reward you for purchases of cash equivalalents. That is pretty standard everywhere in the world. So you wonât earn rewards for purchases from Credibill, Revolut, stock brokers, lotteries, etc.
If you simply need to pay a bill (but not get rewarded for it), that only makes sense if you have the Migros Cumulus credit card. In that case you could withdraw the cash for free at a Migros and use it to pay your bill. No cash advance fee, no interest (if you pay your card bill in full at the end of the month).
Sonect is a paid-but-affordable way to get low-cost cash advances with other credit cards. Crediting Revolut used to be fee-free back when I used it, so that may be another option for cost-free cash advances.
Credibill is expensive. It only makes sense for people who have bills to pay but no cash on hand. But even then, a personal loan would work out cheaper than the combined Credibill fee and credit card interest (if they carry the balance).
Or you could just pay by bank transfer. No rewards, no cost, minimal time and effort.
I am now possessing two creditcards from Swisscard, 1 AMEX and 1 Mastercard, both with cashback benefit (AMEX = 1% adn Mastercard = 0.25%)
From the online app or online login to Swisscard portal, I see that I cannot order any payment.
I understand that physical credit cards are used mostly to pay with with POS of physical shops or online purchases, though I want to use them also to pay my bills.
In particular:
rent monthly: I donât have a bill but just the owner IBAN and I woudl like to make the payment with the creditcard
car leasing: I have 1 bill to set up a standing order monthly to AMAG Leasing.
CSS health insurance.
Yallo monthly invoice for mobile service.
on demand bills (e.g. Electricity, Billag, garbage tax, etc.).
Wasnât it answered above? (EDIT: just saw the post was moved from its initial thread.)
Additionally, you may come across the solution to pay your bills at a Post office. They wonât charge you a fee for it. However:
They do charge a fee to the receiver. In many cases they will add this fee to your next bill. And if they donât, they factor those costs into their prices which are then paid by all other customers. Your optimisation shouldnât have a negative impact on others in my opinion.
They do not accept all cards, and afaik they do NOT accept any cards which offer cashback.
The time and effort it takes is just not worth what you will get as cashback.
Just to add: whenever you pay with a MasterCard, Visa or Amex, the receiver of the money gets charged 0.5 to 3.8% depending on the card you use, their payment provider and their size.
There is just no interest for a health insurance or electricity company to lose that kind of money just to allow you to have your glorious 0.25-1% cash back.
Also, people paying with credit cards tend to spend more, and those with cash back spend around 3-4 % more than those paying by debit. I seriously doubt that you actually save money by getting cash back because of this.
There is a service provider called Credibill which lets you pay bills using credit cards from Bonuscard, Cembra, UBS, Swisscard, Topcard, and Cornercard.
You pay a fee for the service (2.5% or 2.75%, depending on the card issuer). I think itâs safe to assume that the charge would be counted as a cash equivalent, so your wouldnât earn credit card rewards.
I can only see it making sense for someone who either:
Needs a short-term loan (i.e. for unexpected bills which your standard budget and available cash didnât account for) which they can repay by the end of the billing cycle.
Loves the convenience of having everything accounted for in one bill and statement, and is willing to pay good money for that.
For a person who sometimes finds themselves in situation 1, having the Migros Cumulus credit card which lets you get cash at Migros for no fee is probably a better choice.
To not open a new/2nd topic, Iâm reviving this oneâŠ
Today I got a push message, that cembra is launching itâs service âScan2Payâ: Pay your QR-Code bills via cembra credit card. That comes with a 0.8% fee and the monthly amount seems to be cappedâŠ
Only usecase i see for this, is that if you have no cash available but need to pay the QR bill on a certain day.
But then the problem is just put a few weeks back until the credit card bill arrivesâŠ
That whole âfeatureâ feels like making profit on the desparate
It more or less is. But for people who would otherwise not be able to pay their bills and would thus be subjected to penalty fees and debt collection suits, deferring the payment to an open credit line that can be paid off over time is definitely preferrable.
My gut feeling though is that the bulk of people who will use this are simply people who are accustomed to charging everything to their credit card for the simplicity of having just one final bill. Many (if not most) consumers have always been happy to pay a lot for convenience.
While the fee may be acceptable in an emergency, wouldnât an IBKR margin loan always be better? If you can pay it back quickly, the margin loan interest amount should be tiny. If you canât pay it back quickly, the margin loan interest rate should still be much lower than the interest rate of your credit card.
Thatâs assuming you do have access to sufficient IBKR margin without risking liquidation, and paying the bill can wait an extra day or so.
I think that would still be better than using your credit card. Although, I donât remember whether Swissquote even allows withdrawing cash on margin.
But that is per year, no? So if you pay it back after 1 month (same timeframe as credit card bill) it would be 1/12 of that (3.84% / 12, so it would be 0.32% for one month). While for the credit card it is directly 2.25% fee.
Durch das Lesen und die Teilnahme an diesem Forum bestÀtigst du, dass du den auf http://www.mustachianpost.com/de/ dargestellten Haftungsausschluss gelesen hast und damit einverstanden bist.
