How To Purchase Money Order With Credit Card

The maximum you can order by credit card with payko for example is 500. It s up to you to decide if it s worth it. Merchants may also impose a maximum money order limit to be bought by credit card.

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Credit card issuers like capital one american express chase and others consider money orders a cash equivalent which means the transaction will code as a cash advance rather than a regular purchase.

How to purchase money order with credit card. If you don t have the money in your bank account then maybe think about whether you really need that item after all 4 best credit cards for money orders. The only places that let you buy a money order with a credit card are 7 eleven stores and western union. But if all you have is a credit card you re probably wondering whether you can even use it to buy a money order. If you don t have enough cash on hand or money in your bank account to buy a money order using a credit card is an option.

Most issuers only accept cash as payment for money orders so if you want to use a credit card to purchase a money order you ll need to get a cash advance which can cost you a lot of money. Some institutions accept credit card payments for money orders while others don t. A money order is a safe way to send money through the mail or to make payments to companies that have limited payment options. Credit card companies consider the purchase of a money order to be the equivalent of a cash advance so the transaction will trigger an expensive fee as well as the immediate accrual of a high interest rate.

Or you could purchase a money order with your debit card. Additionally your credit card company may charge you a fee for the money order as some see it as a cash advance. If you plan to charge a money order be aware that your credit card company may consider a money order purchase to be a cash advance which has some significant downsides. But it should be a last resort because of fees and interest.

Unless credit is your only option and sending money is a necessity however buying a money order with a credit card is probably not going to be the best move for your wallet. The easiest way to find out whether you can purchase a money order with a credit card is to ask. Although we don t recommend using credit cards with money orders a few cards are better choices than the rest.