Can J Get A Money Order With Credit Card

If your landlord won't accept your personal check or you're sending greenbacks to a family unit fellow member, you may demand a coin order. Like checks, coin orders can be used to pay for just about anything. They're essentially a type of prepaid payment that yous tin can buy using a debit carte du jour, a check or an electronic payment. Tin can you lot buy a coin order with a credit card, too? Before we answer that question, allow's explore how money orders piece of work and when to use them.
Observe out now: Which credit card is best for you?

When to Use Money Orders and Where to Buy Them

You can use a money club when you lot would rather not (or you cannot) use a wad of cash or a personal check to brand a payment. Compared to dollar bills and checks, money orders provide a more than secure way to pay for an item. A separate entity – like a mail office – must confirm that you have enough funds to buy a money order. Therefore, you won't take to worry about overdrawing your checking account or trying to brand a payment with money you don't actually have.

Using a coin lodge could be a proficient idea when yous're sending money through the mail or paying a stranger. Like a cheque, yous must identify who can use the money order. And so if someone steals information technology, he won't exist able to employ it. Since you don't need a checking account number to buy one, a money order won't leave your bank business relationship vulnerable to thieves.

You'll detect money orders at a variety of locations including 7-Eleven and Western Union. You must pay for the coin order upfront and sign it. The recipient must sign the money order besides in social club to accept the payment.

Related Commodity: Is a Checkless Checking Account Correct For You?

Why Buying a Coin Order With a Credit Carte du jour Is a Bad Idea

There are many means to pay for a money order. While you lot can purchase one using a credit bill of fare, doing and so may non be the best idea.For starters, ownership a money guild with a credit bill of fare tin be expensive. Y our card issuer volition categorize the transaction as a cash advance. That means you lot'll have to pay a fee.

The involvement rates tied to greenbacks advances are usually higher than the ones tied to ordinary purchases. And interest commonly kicks in immediately. So even if you lot pay off your cash accelerate right away, you'll have to pay extra to cover the interest. In short, using a credit card to buy a coin club is like borrowing money to buy cash. In most cases, it only doesn't make sense. Moreover, if you have a rewards credit card, you won't exist able to use a money gild (or a cash advance) to earn points, miles or cash back.

Even if you wanted to buy a money club with a credit card, not all places accept credit cards. The U.S. Postal Service won't let you purchase a money order with a credit card. Walmart won't either.

Related Article: 4 Expenses You Should Never Put on a Credit Card

Alternatives to Using Money Orders

Instead of using a credit card to buy a money club, you lot may desire to consider using another secure payment method. That way, you'll avoid high interest rates and fees. If y'all have a checking account, consider setting upwardly automatic payments and then that you can pay your bills straight from your business relationship. You could also gear up bill payments through free apps like Mint.

If your landlord won't accept money orders or credit cards directly, you could pay rent with a credit bill of fare through a service like RentShare. You lot could likewise use a third-political party like PayPal or Venmo for quick money transfers.

Last Word

While you could technically buy a coin order with a credit card, the bottom line is that it might be too complicated and too plush. What'southward more, not all money order issuers accept credit cards. If you can't utilize a debit carte du jour or cash to purchase a money order, you're probably ameliorate off using an alternative payment method.

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Lauren Perez, CEPF® Lauren Perez writes on a variety of personal finance topics for SmartAsset, with a special expertise in savings, banking and credit cards. She is a Certified Educator in Personal Finance® (CEPF®) and a member of the Social club for Advancing Business organisation Editing and Writing. Lauren has a degree in English from the University of Rochester where she focused on Language, Media and Communications. She is originally from Los Angeles. While prone to the occasional shopping spree, Lauren has been aware of the importance of money direction and savings since she was young. Lauren loves being able to make credit card and retirement account recommendations to friends and family unit based on the hours of inquiry she completes at SmartAsset.

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