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Paying Tuition With a Credit Card

Now that September is close, some readers have asked: Can I pay my university/college tuition by credit card (and get the points)? 

The short answer is maybe, but don’t do it. There are a number of ways by which money can be drawn from your credit card for payment to a school. You can draw a cheque on the credit line, take cash out, etc. All these transactions will count as a cash advance, where you will incur interest from the date of the transaction (no 21 day grace period), and will likely incur a service fee. Further, most creditors don’t award points or cash-back on cash advances. Evidently, this is not the way to go.

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