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Mortage payment and mortgage rebate

March 1st, 2013 at 06:32 pm

Made the regular payment of $918 to the mortgage today and did an extra $82 towards the principal for a total of $1000.

We also received notice from our Wells Fargo credit card that our first $25 rebate will be applied to the principal payment in about 4 weeks.

We applied for this card when we refinanced back in Sept. They give us 1% of every purchase and when you reach $25, they will make a principal payment to your loan.

We have reached this first rebate rather quickly as we have a few re-occuring bills on the card, bought DD2 her graduation present at Christmas time (holding it until graduation)and we have charged our airline tickets, rental car, travel insurance, and a partial deposit for our Kauai trip in July. We will continue to charge a bit of the remaining vacation balance on it each month until June (when any remaining balance will be due in full).

We figure why not use the card when we want to charge something and get something back? As long as we pay it off in full each month, I think it is great!

2 Responses to “Mortage payment and mortgage rebate”

  1. Beawealthywarrior Says:

    I agree, free money is great!!

  2. Jerry Says:

    I like to do that, too... just add to the amount due until it leads to a nice, even number. Smile Nice job on those payments, and it is great to have the insurance of the "free money" for payments to the CC to pay it off!
    Jerry

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