If you don't have a personalized checking account set up, money orders can be a great way to make rent payments, minimum payments, or other larger purchases. Credit card companies want to ensure that you actually have the funds to pay for the order instead of borrowing that amount from the lender. How do you buy a money order with a credit card?Įven though you can buy a money order with your credit card, most places will only accept physical cash or a debit card. All of these places will charge a processing fee that can fall anywhere between one and two dollars.
These are often available to buy at banks, other credit unions, convenience stores, grocery stores,Īnd post offices. You can use orders to pay for domestic purchases, or you can mail them internationally as well. If you need to send more money than that, you must buy additional orders. Generally, the maximum amount for one order is $1,000. That said, there are limitations on how much money you can send on a money order. In addition, money orders don’t expire, nor do they incur interest. Why? Like a check, money orders need a specific recipient, retailer, or business, and only the addressed party can cash it in.īut there’s no potential for it to bounce like a check you have to pay for a money order upfront, which guarantees that you have the resources to make the payment. Money orders are a secure form of payment that you can use instead of checks or cash.
Where to buy money orders how to#
Read on to learn more about what a money order is, how to purchase one with a credit card, reasons why you might consider buying a money order, and a list of alternative payment methods. And money orders have limits: the maximum amount you can take out with a money order is usually around $1,000. Just like with lottery tickets or cash advances, you can buy money orders with your credit card, but most experts recommend that you avoid doing so. They’re a secure way of obtaining and sending funds because, unlike checks, money orders don’t bounce or expire. A money order is a certificate that is exchangeable for cash.
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