Whether you’re paying bills or sending money to someone, money orders can help you do it securely. Most money orders are purchased using cash or debit cards. But what if you don’t have the cash in your account and need to send your family member money or pay for something on Craigslist? You might be wondering if you can use your credit card to purchase a money order. Although credit cards are useful for making everyday purchases, using one to buy a money order is not likely to be a realistic option. Many retailers or merchants don’t allow money order purchases with a credit card so it’s always better to consider using cash or a debit card first.
Can I buy a money order online?
- Discover Bank does not guarantee the accuracy of any financial tools that may be available on the website or their applicability to your circumstances.
- Furthermore, cash advances typically charge higher annual percentage rates (APRs) than regular purchases; rates can reach 29% or even higher.
- But, if you choose to send a money order internationally, make sure the person or payee is close to a location where they can receive the funds.
- That may influence which products we write about, but it does not affect what we write about them.
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- Even though you can’t buy a money order with a credit card at any major establishment, there are lots of places where you can use a debit card to buy a money order.
- If you were hoping to rack up a lot of rewards by buying money orders with your credit card, you’re out of luck.
This site does not include all credit card companies or all available credit card offers that are on the market. See our advertising policy here where we list advertisers that we work with, and how we make money. Credit card companies will treat money order purchases made with a credit card like a cash advance. As a result, you’ll trigger an expensive fee and a high interest rate. The fee is 3.96% on average, along with an average cash advance APR of 25.1%.
- Keep in mind that in addition to the fees for the cash advance, you will have to pay the fee for the money order.
- Buying a money order with a credit card is not recommended.
- “You know that feeling of extra clean you get when you leave the dentist’s office?” wrote a fan.
- BNPL can be tricky because you can have multiple loans running at the same time, and the costs “can add up,” Rossman said.
Student Loan Refinancing
StackSocial recommends that you redeem it sooner if you decide to go for this deal. Otherwise, any amount you’ve saved needs to be spent before the end of the year on qualifying expenses so you don’t lose it. During open enrollment, many employers give Accounting for Churches workers the option to sign up for a Flexible Spending Account, also known as a flexible spending arrangement. This account allows you to use tax-free dollars to pay for medical-related expenses and products.
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Here are some things to consider before purchasing a money order. You can buy a money order with a credit card, but it’s not the smartest or least expensive option. Even though credit card issuers allow you to purchase money orders, there are some drawbacks that are important to consider. Advertising impacts how and where offers appear on this site (including, for example, the order in which they appear and their prevalence). At WalletHub we try to present a wide array of offers, but our offers do not represent all financial services companies or products. No, you can’t directly purchase a money order from Walmart with a credit card.
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Alternatively, you can go for the Executive income statement Gold Star membership instead for $130, and you’ll also get a $45 Costco gift card. You can also gift a membership to a family member or friend who wants to join Costco (the limit is two memberships; one for you, one for a gift). “The only reason I’ve gotten any sleep as a new mom,” raved this reviewer.
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If you typically use money orders to pay big monthly bills (like rent), one alternative is doing an ACH transfer. According to the Consumer Financial Protection Bureau, an ACH transfer allows you to electronically move money between bank accounts. Offer pros and cons are determined by our editorial team, based on independent research.
“The rise of buy now, pay later is the biggest reason why Americans are opening fewer store cards,” according what is a purchase order to Ted Rossman, an industry analyst at Bankrate. When asked to choose between a store card or a buy now, pay later plan, 58% of surveyed shoppers prefer store cards, according to a new report by LendingTree. The next (or first) time you need a money order, you have several options. Deciding where to get a money order ultimately comes down to convenience and price.