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Jared Bass
Jared Bass

Where Can You Buy Money Order With Credit Card



If you need to make a payment or send funds, a money order can be a safe alternative to a personal check or cash. You can typically buy one with a debit card, cash or a transfer from your bank account, but you may also wonder, "Can I buy a money order with a credit card?" Technically, the answer is yes, but it may be more trouble than it's worth.




where can you buy money order with credit card



It's generally not a good idea to use a credit card to buy a money order, primarily because it's not possible to do so directly. To make it work, you need to request a cash advance, which can be incredibly costly.


A money order is similar to a personal check in that it's a paper document the recipient can cash or deposit into a bank account. You can use a money order to pay rent and other bills, send money to family and friends or even pay for online orders with some retailers.


Funds are guaranteed. When you use a personal check, the funds are guaranteed only if there's enough money in your bank account to cover them. As a result, many merchants don't accept personal checks for goods and services. Money orders require payment up front, so there's no question whether the order will bounce.


No bank account is required. Roughly 7.1 million U.S. households don't have a bank account, according to a 2019 survey by the Federal Deposit Insurance Corp. A personal check typically requires a checking or money market account, while a money order can be purchased at a post office or retailers using other payment methods.


There are currently no providers that accept a credit card as a form of payment for money orders. (Western Union and 7-Eleven once did, but not anymore.) This means that in order to get a money order with your credit card, you'll have to first obtain a cash advance from the card at an ATM or a bank branch, or through a convenience check tied to your account.


A cash advance is essentially a cash loan from your credit card's line of credit, says Maggie Germano, founder and CEO of Washington-based Maggie Germano Financial Coaching. "There are extra fees that come along with getting a cash advance," she says, "(and) there also may be higher interest rates."


Because cash advances are so costly, it's best to find another means to purchase a money order. The exception is if your only other option is to use an even more expensive form of payment. Payday loans and auto title loans, for instance, may charge triple-digit APRs, making them significantly more expensive than a credit card cash advance.


One thing to note, however, is that credit card companies are required to apply any amount you pay in excess of the minimum payment to the debt with the highest rate first. So, if you use your credit card to purchase a money order, your payments would pay down that amount before your regular purchases, which can help you save money. But it could interrupt your progress if you're trying to pay down existing debt.


Can you get a money order with a credit card? Yes. But if you need a money order to pay a bill or send money, and don't have the cash or checking account balance to cover it, consider using a credit card only after you've pursued all of your options. Here are some to think about:


As you consider these and other options, make sure you understand what your costs are and whether they're worth it.When comparing your options, Pritchard recommends looking at the total cost in interest and fees. "If a cash advance is the least expensive option, then it's a reasonable solution," he says. In other words, if it's necessary to buy a money order, do your due diligence to ensure that you spend as little money as possible in the process.


You're casually scanning Craigslist or NextDoor when you see someone selling the used car of your dreams. There's only one problem: They want you to pay with a money order, and you don't have enough cash to buy one. So you might be wondering, can you charge the money order to your credit card? You can use a credit card to pay for a money order, but it should be thought of as a last resort. Read on to learn why.


A money order is an alternative to checks or cash when you need to make a secure payment and can't or don't want to use your bank's online payment options or an online payment app such as Venmo or PayPal.


Money orders must be made out to a specific person or business and can only be cashed by that recipient. Because cashing a money order requires presenting ID in person, you typically don't have to worry that a thief will get their hands on your funds.


Money orders often have a limit of $1,000, although some issuers have smaller limits. If the amount you need to send is larger than that, you'll have to buy more money orders. For instance, if you wanted to buy $3,000 in money orders from a location that limits money orders to $500 each, you'd have to buy six money orders. There may also be limits on the total dollar value of money orders you can buy in one day. For example, the U.S. Postal Service limits you to $10,000 worth of money orders per day. Why Should I Use a Money Order?People who don't have checking accounts often use money orders to make large payments, such as paying rent or making a big purchase from an individual. Some individuals may insist that you use a money order to pay them.


If you worry that using a check could lead to identity theft because checks include your bank account number, you may feel safer using a money order, which doesn't provide any of your bank account information.


You can also use money orders to send money internationally, such as to relatives in another country. Most sellers of money orders have branches in major cities worldwide. Before you buy a money order to send to another country, make sure the recipient has a way to cash it near where they live.


You'll pay a small issuing fee based on the money order amount. Fees vary depending on the location issuing the money order; they're generally a few dollars at most. For instance, at the post office, issuing fees range from $1.25 to $1.75; at Walmart, the maximum fee is $0.88. How Do You Buy a Money Order With a Credit Card? In most cases, you'll need to buy a money order with cash or a debit card. Because issuers want the money in hand before they issue the money order, you cannot pay with a personal check. The only places that let you buy a money order with a credit card are 7-Eleven stores and Western Union.


To protect yourself from unexpected charges, read your cardholder agreement carefully or check with your credit card issuer to see if using a credit card to buy a money order is considered a cash advance. How Do You Fill Out a Money Order? Money orders are easy to fill out, but it's important to fill out the money order correctly. Otherwise, the recipient might not be able to cash it.


You'll need to write on the money order the name and address of the person or business receiving it. It's a good idea to double-check the name spelling first because the money order will be checked against the recipient's ID when they try to cash it.


Sign the money order and be sure to get a receipt for it. You must have a receipt if you want to cancel the money order or if it goes missing and you need to prove that you purchased it.How Do You Cash a Money Order?To cash a money order, take it to a bank, credit union or check cashing store. You can also take it to another location of the organization that issued it, such as a post office, grocery store or convenience store. No matter where you cash it, you'll be asked to show identification and sign the back of the money order, just as you would when cashing or depositing a check. Do Money Orders Expire?Money orders do not expire. However, if you've received a money order and don't cash it within a certain time frame, the issuer may begin charging a monthly service fee. When you do cash the money order, that fee will be deducted from the total amount you receive. It's a good idea to review the terms and conditions listed on the back of the money order as soon as you get it. Note if there are any service fees and, if so, how long you can wait to cash the money order before fees start to accrue.


To prevent fraud, the FTC recommends you never send a money order to someone you don't know, people who say they only accept money orders or people who ask you to keep the transaction a secret. Here are a few other steps to help you avoid money order scams:


Yes, you can buy a money order with a credit card from places like Western Union and 7-11. Just keep in mind that 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 and a high interest rate will take effect right away.


Because buying a money order with a credit card is considered a cash advance by credit card companies, the purchase will trigger an expensive fee and a high interest rate. The average cash advance fee is 3.84%, and the average cash advance APR is 22.53%. Both will immediately apply to the amount you spend on the money order.


In addition, you will likely pay a fee to the company you buy the money order from, no matter how you pay for it. These fees range from less than a dollar to a few dollars, depending on the company and the size of the money order.


Third-party services, such as Plastiq, allow you to pay utility bills with a credit card. However, you will likely need to pay a fee. Some utility companies accept online bill pay from a credit card account, too.


There are a number of third-party services that allow people to pay their rent with a credit card when their landlord does not accept credit directly. Some of the most popular are RentPayment, PlacePay, RentTrack and ClickPay. Be sure to familiarize yourself with any fees before using these services.


Another common use of money orders is buying items in certain categories on eBay and Etsy. However, most of these sellers will also accept third-party payment services like PayPal, Venmo and Google Wallet. 041b061a72


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