“`html

Maximize Your Mortgage Experience with O1ne Mortgage

At O1ne Mortgage, we prioritize your financial education and aim to provide you with the best mortgage solutions. Whether you’re a first-time homebuyer or looking to refinance, our team is here to guide you every step of the way. For any mortgage-related needs, feel free to call us at 213-732-3074.

Why Choose O1ne Mortgage?

Credit cards can offer many benefits, including rewards, purchase protections, and the option to pay off your balance over time. However, sometimes using a credit card isn’t the best option, either because you’ll have to pay extra fees or because there are better alternatives.

1. Rent or Mortgage Payments

Paying your rent or mortgage with a credit card isn’t always an option—landlords tend to prefer checks, cash, or even Venmo payments. If your landlord accepts credit cards or you use a third-party service, review the terms carefully. There could be a payment processing fee, often around 3% of the payment amount, which can quickly add up. Even if you earn rewards, you’ll probably wind up spending more in fees than you earn.

2. Utilities

Some utility providers also charge processing fees if you pay your bill using a credit card. The fee is often only a few extra dollars. But you may be able to easily avoid it if you make one-time or automatic payments directly from your bank account instead of your credit card.

3. Income Taxes

Income taxes can also be a major expense for some people, particularly if you earned income as a contractor or small business owner and didn’t pay enough quarterly income taxes. The IRS has a list of approved payment processors you can use to pay your taxes with a debit or credit card. The fees range from 1.85% to 1.98% for credit card payments. If you can’t afford your tax bill right now, getting a low-rate personal loan or starting a payment plan with the IRS might be a better option than paying the fee plus taking on high-rate credit card debt.

4. Medical Bills

Medical bills are hard to plan for and can be surprisingly expensive. Paying with a credit card might seem like a good option, and there are medical credit cards specifically for covering these types of bills. However, unless your card has an intro 0% annual percentage rate (APR) offer, you might accrue a lot of interest while paying off the balance. The high balance could also increase your credit utilization ratio and hurt your credit score. Trying to negotiate the medical bills and then getting a payment plan with the medical provider may be a better option.

5. Cash Withdrawals

You can use your credit card to get a cash advance at an ATM, using a convenience check, from a bank teller, or sometimes via your card’s app. It can be a quick and easy way to get extra cash to cover bills. However, cash advances should generally be a last resort. When you get a cash advance, you may need to pay an additional cash advance fee. Cash advances also often have a higher APR than purchases or balance transfers, and interest starts accruing on the cash advance immediately, even if you regularly pay your credit card bill in full.

6. Peer-to-Peer (P2P) Payments

Popular P2P payment platforms like Cash App, PayPal, and Venmo let you connect a credit card to your account. You can then use the app to send money to other people and businesses. However, you may be charged around 3% of the transaction amount for each transfer. Card issuers also might treat the transaction as a cash advance, which means you won’t earn rewards and will be charged the extra fees and interest mentioned above. To avoid the fees and interest, link and use your bank account instead.

7. Online Bets

Online sports betting and gambling have grown in popularity recently. Whether you can use your credit card may depend on where you live and your card issuer. But even when it’s an option, using your credit card can be risky because you’re potentially taking on high-interest debt to place a bet. Card issuers also might consider these transactions cash advances.

8. Tuition

Some colleges and universities accept credit cards for tuition, school fees, and other higher education costs. But the added payment processing fees might make using a card a bad idea. Instead, look into different forms of financial aid, including federal student loans or scholarships. And if you or your child don’t qualify for federal financial aid, review the options for regaining eligibility and getting more help in the future.

Get the Best Mortgage Solutions with O1ne Mortgage

Using a credit card doesn’t always make sense, but there are times when it’s the best option. Credit cards can offer rewards and various cardholder benefits, such as extended warranties, purchase protections, and zero liability for unauthorized transactions. While there isn’t a best card for every person or circumstance, some cards are better than others. You can use comparison tools to get matched with credit card offers based on your credit profile. Then compare the terms, pros, and cons of each card to see which one will work best for you.

For personalized mortgage advice and solutions, call O1ne Mortgage at 213-732-3074 today. Let us help you make the best financial decisions for your future.

“`