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Hi Fico Fam,
I am trying to maximize cashback/points on all my cards. I am trying to begin this tradition of paying for everything possible with a credit card. If anyone knows a very relaible way of paying rent with credit card kindly suggest to me. I don't mind paying between $5 and $7 for the service as long as it would not seem like a cash advance kind of thing.
All suggestions valued
There are a number of ways to do it, i'm currently using the AMEX Bluebird checking account and loading the funds using Vanilla reloads. Basically, you purchase the Vanilla reloads at the stores using your CCs( so you can get rewards and such) and use the Vanilla reloads to load the funds to Bluebird and pay rent w/ it.
@yudeology101 wrote:There are a number of ways to do it, i'm currently using the AMEX Bluebird checking account and loading the funds using Vanilla reloads. Basically, you purchase the Vanilla reloads at the stores using your CCs( so you can get rewards and such) and use the Vanilla reloads to load the funds to Bluebird and pay rent w/ it.
That seems like a lot of effort. Are the rewards really worth that much trouble?
Well, this isn't what you asked, but I did come across something that interested me yesterday. It seems that with Bank of America Travel Rewards card (and some of their other cards) you need to redeem your rewards points for travel expenses. And one of the Travel expense categories is MCC 6513 Real Estate Agents and Mgrs - Rentals. Which is what my apartment rent is coded as...
I'd love to find the opposite, ie, a card that gives travel rewards for spending in category 6513. Or anything that gives more than 2%. Actually that is what I was searching for when I came across the BOA information.
I'm actually paying my rent this month with a 2% cash back on all categories card. unfortunately they charge me a $17 fee to pay via credit card. That brings my $710 rent up to $727, but i get back $14.52 in cash back so I end up losing only a few dollars, but get to set a new high spend on my credit card. I'm hoping for CLI's in the future
In your case, first see if they allow payments via credit card, and if so what the fee is. Or were you hoping for a credit card that would have a bill pay feature that mailed actual checks, or ?
Edit: or maybe I just need a more expensive apartment At $850+$17 I would make a profit using a 2% card
@Stralem wrote:
@yudeology101 wrote:There are a number of ways to do it, i'm currently using the AMEX Bluebird checking account and loading the funds using Vanilla reloads. Basically, you purchase the Vanilla reloads at the stores using your CCs( so you can get rewards and such) and use the Vanilla reloads to load the funds to Bluebird and pay rent w/ it.
That seems like a lot of effort. Are the rewards really worth that much trouble?
Well, i thought so at first...but it's not that bad afterall. If you're trying to maximize your reward system on your CCs to treat yourself w/ something nice later on, you'll def. put in that extra effort to do it. At first I thought do i really want to take these extra steps just to pay rent? But hey I get happier and happier seeing my miles/ reward points stack up and feel accomplished in some way. Plus, i'm showing signs of heavy usage on my CCs and PIF so it also looks good to the lenders IMO. Bottom line is, if you can manage 10+ cards responsively, then you can definitely find room to put in the extra effort to do this as well.
@yudeology101 wrote:
@Stralem wrote:
@yudeology101 wrote:There are a number of ways to do it, i'm currently using the AMEX Bluebird checking account and loading the funds using Vanilla reloads. Basically, you purchase the Vanilla reloads at the stores using your CCs( so you can get rewards and such) and use the Vanilla reloads to load the funds to Bluebird and pay rent w/ it.
That seems like a lot of effort. Are the rewards really worth that much trouble?
Well, i thought so at first...but it's not that bad afterall. If you're trying to maximize your reward system on your CCs to treat yourself w/ something nice later on, you'll def. put in that extra effort to do it. At first I thought do i really want to take these extra steps just to pay rent? But hey I get happier and happier seeing my miles/ reward points stack up and feel accomplished in some way. Plus, i'm showing signs of heavy usage on my CCs and PIF so it also looks good to the lenders IMO. Bottom line is, if you can manage 10+ cards responsively, then you can definitely find room to put in the extra effort to do this as well.
Vanilla card is only $3.74 per $500 always? or is that just Walmart Price and with debt or that include with credit card?
CVS is it $3.74 per $500?
anywhere that take BCP?
or else looks like fidelity!
The cheapest way I've found to turn credit into cash is as follows:
1. Go to squareup.com and get a free credit card reader that plugs into the mic jack on your phone.
2. Link your bank account to the Square account.
3. Charge your card rent + 2.75% (Square's flat rate merchant fee).
4. Collect 1 to 2% cash back from CC.
5. You now have rent money, no cash advance fees and no extra interest since CC thinks it's a point of sale purchase.
Not something you should get in the habit of doing but I'll admit to doing it once or twice when cash flow was especially tight.
@Creditaddict wrote:
@yudeology101 wrote:
@Stralem wrote:
@yudeology101 wrote:There are a number of ways to do it, i'm currently using the AMEX Bluebird checking account and loading the funds using Vanilla reloads. Basically, you purchase the Vanilla reloads at the stores using your CCs( so you can get rewards and such) and use the Vanilla reloads to load the funds to Bluebird and pay rent w/ it.
That seems like a lot of effort. Are the rewards really worth that much trouble?
Well, i thought so at first...but it's not that bad afterall. If you're trying to maximize your reward system on your CCs to treat yourself w/ something nice later on, you'll def. put in that extra effort to do it. At first I thought do i really want to take these extra steps just to pay rent? But hey I get happier and happier seeing my miles/ reward points stack up and feel accomplished in some way. Plus, i'm showing signs of heavy usage on my CCs and PIF so it also looks good to the lenders IMO. Bottom line is, if you can manage 10+ cards responsively, then you can definitely find room to put in the extra effort to do this as well.
Vanilla card is only $3.74 per $500 always? or is that just Walmart Price and with debt or that include with credit card? Yes & i don't know about Wal-Mart prices
CVS is it $3.74 per $500? Yep, just about right.
anywhere that take BCP? To purchase Vanilla reloads? If so, yes you can use your BCP to purchase.
or else looks like fidelity!
@yudeology101 wrote:
@Creditaddict wrote:
@yudeology101 wrote:
@Stralem wrote:
@yudeology101 wrote:There are a number of ways to do it, i'm currently using the AMEX Bluebird checking account and loading the funds using Vanilla reloads. Basically, you purchase the Vanilla reloads at the stores using your CCs( so you can get rewards and such) and use the Vanilla reloads to load the funds to Bluebird and pay rent w/ it.
That seems like a lot of effort. Are the rewards really worth that much trouble?
Well, i thought so at first...but it's not that bad afterall. If you're trying to maximize your reward system on your CCs to treat yourself w/ something nice later on, you'll def. put in that extra effort to do it. At first I thought do i really want to take these extra steps just to pay rent? But hey I get happier and happier seeing my miles/ reward points stack up and feel accomplished in some way. Plus, i'm showing signs of heavy usage on my CCs and PIF so it also looks good to the lenders IMO. Bottom line is, if you can manage 10+ cards responsively, then you can definitely find room to put in the extra effort to do this as well.
Vanilla card is only $3.74 per $500 always? or is that just Walmart Price and with debt or that include with credit card? Yes & i don't know about Wal-Mart prices
CVS is it $3.74 per $500? Yep, just about right.
anywhere that take BCP? To purchase Vanilla reloads? If so, yes you can use your BCP to purchase.
or else looks like fidelity!
jcpenney doesn't give any rewards when used at CVS right?
my Fidelity would be best payout if it's CVS, Walgreens, or Walmart to buy Vanilla Reloads right? I don't see any groceries that list vanilla as option to buy.