United First Financial Money Merge Account + Credit Card = Rewards and Faster Payoff

This was a cool way my brother showed me on how to gain an extra 6 months off your mortgage and rewards by using an American Express credit card with the Money Merge Account from United First Financial.

The secret to paying off your mortgage with the Money Merge Account is all about interest cancellation and the amount of time your money can sit in the HELOC. The problem is bills come throughout the month and most people pay them right when they get them. Instead of paying your monthly bills from your HELOC, why not put them on an American Express card and then payoff the credit card at the end of the month.

American Express charges an annual fee on the One Card, but doesn't charge you interest if the balance is paid in full every month. So, you charge any bill you can to the American Express card and then pay it off at the end of the month.

By doing this, you will see that you payoff your mortgage about 6 months faster AND you earn rewards from American Express from all the charges you put on the card. So, my brother choose the One Card since it pays him 1% of his monthly balance and puts that money in a high yield savings account. At the end of the year, he can withdraw the money and apply it to his mortgage. What a great idea!!!

Now, you can't put all your bills on the American Express Card. His electrical company, FPL, wouldn't allow him to charge his bill, but almost every other bill he had would.

If you are on the Money Merge Account program, run the scenario yourself to see how much sooner you will payoff your mortgage by doing this.