 | Flytrippers cofounder |
Every travel rewards pro uses Chexy to earn more travel rewards. This awesome bill payment service lets you use credit cards to easily pay your rent, your taxes, your tuition, and much more. Now, it’s possible to use it to pay your mortgage… but with a caveat.
Chexy lets you unlock more welcome bonuses and bigger welcome bonuses… which is THE thing that’s so simple to do to earn a lot more rewards!!! But unfortunately that won’t be possible for mortgages.
It’s still very interesting to earn a bit more (for some)!!! Flytrippers helps you travel for less with its free newsletter specifically about travel rewards, its ranking of the best current offers, its monthly live videos, and its infographic summarizing all the basics.
Here are the details of mortgage payments with Chexy.
How do mortgage payments with Chexy work?
If you like traveling in luxury, paying your mortgage with Chexy is a nice plus to maximize your rewards outside of welcome bonuses, even if it’s not as interesting as the other payments on Chexy with credit cards (I strongly recommend you first read the basics there if you haven’t yet).
Here’s are the details:
- Payment via bank accounts only
- NOT by credit card
- Unlike all the other payments
- Official partnership with Aeroplan (Air Canada)
- On top of the existing Aeroplan-Chexy partnership
- Lets you earn points and SQCs
- Points = Rewards for free flights
- SQCs = Qualification instrument for elite status
- Gives you 1 Aeroplan point per $1
- ≈ 3% or much more in business class
- ≈ 1.5% in economy class on partners
- ≈ 1.1% in economy class on Air Canada
- Costs you a 1.75% fee
- Like all the other payments
- You have to do the math carefully since there’s no credit card
- Very profitable if you travel in business class
- And if you redeem the points well to do it
- If you don’t have enough points
- Not profitable if you travel in economy class
- Stick to the other Chexy payments in that case
- Gives you 1 SQC per $5 (equivalent to 0.2 SQC per $1)
- Counts toward the everyday partners total
- So toward the maximum of 25,000 SQCs per year in total
- Very simple to do logistically
- On the Chexy website
- All mortgage lenders are eligible
- It doesn’t change anything at all for the recipient
- Like for all the other Chexy payments
For the mortgage, but especially for all the other even more lucrative payments, you absolutely must use Chexy if you want to maximize your rewards.
Is it worth it to pay your mortgage with Chexy?
Of course, it’s less interesting than the regular payments with Chexy that give you a return of 10% and more thanks to welcome bonuses, or at minimum always 2.25% on everything with the Scotia Momentum Visa Infinite+ Card.
But the mortgage payment is still worth it:
- If you know how to redeem your Aeroplan points well
- The best redemption of the best points in Canada is for luxurious business class
- If you know how to do the math
- The prerequisite for pretty much everything in the wonderful world of travel rewards
- If you know you don’t have enough points
- Points of the more lucrative type are more precious, but still easy to earn
To give a very concrete example, let me remind you of the low guaranteed fixed price for a luxurious Montreal–Germany flight in business class on partner airlines.
It costs 60,000 Aeroplan points. It costs about $3,000 in cash (to use a round number).
Like the one I took last summer and the ones Flytrippers spots almost every day in our new business class deals section.
My mortgage costs $1,515 per month, so $18,180 for the year. Paying it with Chexy is going to give me 18,180 Aeroplan points, so almost a third of what’s needed for the transatlantic flight in business class.
So that’s worth almost $1,000 (a third of $3,000). It’s going to cost me $318 in Chexy fees ($18,180 multiplied by 1.75%).
Paying $318 to get $1,000 of value is obviously profitable!
The value of Aeroplan points for business class, if you book on partner airlines and not on Air Canada, is ≈ 3¢ per point or even much more.
So that’s a lot more than the 1.75¢ in fees that it costs you for the points by paying your mortgage this way.
But a bit like for buying Aeroplan points, it’s only worth it if you really need more of them. In my case, I took 9 business class flights in 2025 (and my girlfriend 2; that comes from the same accounts 😂), plus my 4 more this spring.
I always want more, especially since this is the lowest price (1.75¢/pt) you can find to “buy” Aeroplan points.
I actually just redeemed my Aeroplan points to book yet another transatlantic flight in business class for my girlfriend and I for our summer trip! The price in cash was again $3,000+ per ticket!!! I’m going to talk about it again in another post this week.
But watch out: the value of Aeroplan points in economy class on partner airlines is only ≈ 1.5¢… and it’s even worse for flights on Air Canada at ≈ 1.1¢!
So for point redemptions in economy class, it’s obviously not worth it to pay 1.75¢ to get 1.5¢ in free travel! It’s just very basic math.
So if you’re not interested in traveling in business class for less than in economy class, forget the mortgage but at least go earn 2.25% or 10%+ on all the other payments with Chexy.
How to pay your mortgage with Chexy?
I’m going to do a detailed post for you with screenshots with my own mortgage very soon, but I wanted to share the long-awaited new feature as soon as the embargo on this news ended today.
But like almost everything in life, it’s not particularly complex if you take the time to follow the steps.
Here are the 6 easy steps to get Aeroplan points on your mortgage:
- Create a free Chexy account*
- Link your Aeroplan account to Chexy*
- Link your bank account to Chexy
- Setup your mortgage on Chexy
- Change the payment method on your mortgage
- Get 1 pt/$ and 1 SQC per $5 (for a 1.75% fee)
*Those first 2 steps are already done if you’ve followed our recommendations in the past
Learning how to travel for less
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Summary
You can now pay your mortgage via Chexy and get 1 Aeroplan point per dollar (and even SQCs if you’re interested in elite status). It doesn’t let you unlock more welcome bonuses or bigger welcome bonuses, unlike the other payments. But it’s yet another way to earn a bit more outside of welcome bonuses.
What would you like to know about how to pay your mortgage with Chexy? Tell us in the comments below.
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Featured image: House (photo credit: Clay Banks)
