The Truth About Buying Money Orders with a Credit Card
Money orders are a convenient way to send or receive money, but they can be expensive. If you’re considering using your credit card to buy a money order, there are a few things you should know.
Can you buy a money order with a credit card?
Yes, it is possible to buy a money order with a credit card. However, not all merchants accept credit cards for money orders. Additionally, if you do find a merchant that accepts credit cards, they will likely treat the transaction as a cash advance. This means that you will be charged a cash advance fee, which is typically around 5% of the transaction amount. You will also start accruing interest on the cash advance immediately.
Why shouldn’t you buy a money order with a credit card?
There are a few reasons why you shouldn’t buy a money order with a credit card. First, the fees can be high. As mentioned above, you will be charged a cash advance fee, and you will start accruing interest immediately. Additionally, some merchants may charge an additional fee for using a credit card to buy a money order.
Second, using a credit card to buy a money order can hurt your credit score. When you use your credit card for a cash advance, it counts as a revolving credit line on your credit report. This can lower your credit score, especially if you have a high balance on your credit card.
Credit Card Provider which give access to money order?