Can I Get A Money Order With A Credit Card | Know Every Detail

Can I Get A Money Order With A Credit Card

Are you thinking can I get Money Order with a Credit Card? Worry not, here is the answer. Money Order as you know is one of the safest alternatives to check or cash and you can also use Money Order if you don’t want to use your Bank’s online payment options.  

Credit Cards are used by everyone, and they can be used to buy Money Order but finding the one who accepts Money Order with a Credit Card is difficult. Typically stores prefer the ones that use cash or debit cards. Money Order are made for specific persons or businesses and only the recipient can cash a Money Order. As it requires the ID of a person, in a way Money Order is safe as it cuts the chances of theft or fraud.

Yes, you can get Money Order with a Credit Card, Western Union, 7-11, and K- Mart is some of the stores where you can use Money Order. But it varies with location also the Credit Card companies consider the purchase of a Money Order equivalent to a cash advance. So this can trigger expensive fees and high-interest rates.

The Money Order need payment upfront unlike the check, that’s why a Money Order is one of the safest and guaranteed payment option used by many peoples for business. The Payment via Money Orders triggers a 3.75% fee and a 20.7% of the high-interest rate. You will also need to pay a fee to the company from which you buy the Money Order. In this article, we have covered everything regarding a Money Order with a Credit Card. 

Money Order With A Credit Card – Limit Of Money Order 

Money Orders have a limit of 1000$ and some have smaller limits, and if your amount is larger than you need then you have to buy more Money Orders. In simple words, if you want to buy a Money Order of 3000$ and the limit is 500$ then you have to buy six Money Orders.

There is a limit also, where the total dollar value of the Money Order you can buy per day. The U.S. postal service limit is 10,000$ worth of Money Orders per day. 

Also Read: Guide To Withdrawing Crypto To Credit Card

Where Can I Get A Money Order With A Credit Card

The Western Union and 7-11 used to accept Credit Card as a form of payment in Money Orders but not anymore. To get a Money Order with Credit Card, you have to get cash in advance from your ATM or Bank. 

How To Use Money Order With A Credit Card

To Use Money Order With A Credit Card > Write the Name and Address > Double-check the spellings > Sign the Money Order > Get the Receipt

Step 1: Write the Name and Address of the person or business receiving the Money Order

Step 2: Double-check the spellings of names and other details

Step 3: Sign the Money Order

Step 4: Get the Receipt

How To Cash Money Order With A Credit Card

To Cash Money Order With A Credit Card > Take the Money Order to Bank, Credit Union, or Check Cashing Store  > the Post Office, Grocery store, or Convenience store > Sign the Back of Money Order > Show Identification > Cash or Deposit the Money Order

Step 1: Take the Money Order to Bank, Credit Union, or Check Cashing Store  

Step 2: You can also take it to another location of the organization that issued it – the Post Office, Grocery store, or Convenience Store.

Step 3: Sign the Back of Money Order

Step 4: Show Identification

Step 5: Cash or Deposit the Money Order

Why Use Money Order With A Credit Card

Money Order with a Credit Card is used for many reasons. First Money Order can be used to pay bills, and rent, send money to family, send money to friends, and online orders. Secondly, there is no requirement for a Bank Account.

Money Orders are purchased at the post office or from retailers. Thirdly, funds in Money Orders are guaranteed as Money Orders require upfront payments so there is no chance of bouncing.

You can also use foreign currency in Money Orders which is not possible while using personal cheques. The information also remains safe while using Money Orders as it contains less personal information than personal cheques which have account numbers, addresses, phone numbers, and the name of the account holder mentioned on them. 

The last and most important reason is that Money Orders are secure as a designated recipient taking your cash is much safer than the other modes of payment.

Cost Of Money Order With A Credit Card

The Cost of a Money Order with a Credit Card is a 3% to 5% advance fee with a minimum fee of 5$ to 10$. If you buy a Money Order of 1,000 $ you have to pay a fee of $30 to $50. The cash advance APR, as some Credit Cards, charge a higher annual rate on cash advances than they do on regular purchases. You have to pay 25% to 30% depending on your regular purchase APR.   

While paying through Money Order with a Credit Card you will not get a grace period, usually, you get a grace period of 21 days between your statement date and due date. The cash advance is costly and it is best to find another means to purchase a Money Order.

If you use a Credit Card to purchase Money orders your payments would pay down that amount before your regular purchases, which can help you save money but could also interrupt progress if you are trying to pay down existing debt. 

Also Read: The Good and the Bad of Credit Cards

To Sum Up

Money Orders are a secure way of exchanging and sending money. However, a limited number of stores allow the purchasing Money Order with a Credit Card. It is a better option but most Credit Card issuers treat Money Order purchases as cash advances. 

Also, the interest rate is much higher when you use Money Order with a Credit Card and you can also hurt your credit score too. Comment if this article was informative for you.

FAQ’s 

Q. Can I Get A Money Order With A Credit Card At Walmart?

Money Order with a Credit Card is not accepted at Walmart. You need to purchase Money Order and need a Cash or Debit Card.

Q. Can You Western Union Money Order with Credit Card?

The Western Union used to accept Credit Card as a form of payment in Money Orders but not anymore. To get a Money Order with Credit Card, you have to get cash in advance from your ATM or Bank

Q. How Much Does It Cost To Buy A Money Order With A Credit Card?

The Cost of a Money Order with a Credit Card is a 3% to 5% advance fee with a minimum fee of 5$ to 10$. If you buy a Money Order of 1,000 $ you have to pay a fee of $30 to $50. You have to pay 25% to 30% depending on your regular purchase APR.  Also, while paying through Money Order with a Credit Card you will not get the grace period that you usually get. 

Q. Why Can’t You Use A Credit Card For A Money Order?

You can’t use a Credit Card for a Money Order because they need to be paid upfront, as many issuers will not accept Credit Cards as a form of payment. Those that accept Credit Card will need Money Order purchases as cash in advance. So likely you will have to pay higher fees and have to pay more interest too immediately. 

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