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TIO.com to pay monthly payments

Discussion in 'Model S: Ordering, Production, Delivery' started by c615586, Jun 6, 2017.

  1. c615586

    c615586 Member

    Joined:
    Mar 24, 2015
    Messages:
    14
    Location:
    Upper Arlington, OH
    Does anyone have experience using tio.com (formally chargesmart.com) or other similar services to pay their monthly lease or purchase payments?

    Thinking about doing this to get points/cash back on my Amex.

    Thanks in advance.
     
  2. KArnold

    KArnold Member

    Joined:
    May 21, 2017
    Messages:
    71
    Location:
    Columbus OH
    And not to hijack a thread, but could the service be used to pay more of the down payment beyond the initial $2.5k? I'm not familiar with TIO - do they charge for these services? It would be very nice to get CC points out of this somehow.
     
  3. TSLA_maybe

    TSLA_maybe Member

    Joined:
    Mar 25, 2017
    Messages:
    126
    Location:
    NY
    I just checked some of my billers and the associated fees on some of my average balances. The fees are pretty steep and more than the value of the points I would get back.
     
  4. c615586

    c615586 Member

    Joined:
    Mar 24, 2015
    Messages:
    14
    Location:
    Upper Arlington, OH
    Unfortunately it looks like the fees aren't disclosed until you actually make a payment, which is not very cool. My Amex only gives me 2% back on purchases, so any fees over 2% kill the deal.

    I guess I'll just do automatic bill pay from my checking account.
     
  5. nickl630

    nickl630 Member

    Joined:
    Apr 5, 2017
    Messages:
    5
    Location:
    Rancho Cucamonga CA
    I used Tio once to do a large payment on my auto loan to get the initial 50k sign on bonus. Fee was I believe around $40 on a 4k payment. Not too bad.
     
  6. TSLA_maybe

    TSLA_maybe Member

    Joined:
    Mar 25, 2017
    Messages:
    126
    Location:
    NY
    That's not bad depending on which CC you use. I checked my taxes, utility and auto loan provider, fees were 2-4 times the value of the points I would get back on a Chase Sapphire Reserve so not worth it for me.
     

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