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Established Member
39Xelor
Posts: 146
Registered: ‎02-20-2014
0

Re: Best Way to Pay rent with a Credit Card


longtimelurker wrote:

39Xelor wrote:

Paying rent on your CC sounds smart for the rewards (depending on the situation) but it also sounds kind of dangerous in terms of lending. If a lender (lets just say Amex for example) sees that you are putting your rent on your CC, do you think that may send a red flag to them that you may be in a financial bind due to the fact that instead of paying your rent with check or cash you're charging it? I used Amex as an example because of the whole "FR" situation.. some people have mentioned that Amex will FR you if they see any suspicious merchants on the card.. AKA a lawyer.. or in my opinion maybe an apartment complex for rent? In NO WAY do I have any evidence to back this theory up! I'm just stating what would appear to be a red flag if i were a lender! Just trying to keep everybody safe in the world of credit! Also, like other have stated before, if you have nothing hide then an FR isnt a big deal.. BUT i'm sure its still a pain in the butt that we would all like to avoid!


Well, you are not paying your rent with your CC in any visible way.    If you are using Bluebird for example, you are paying by check, just from a different bank account.   If you are trying to meet minimum spend, and use ChargeSmart,/Williamspaid etc then you are purchasing "stuff' from a vendor, and while those are guessable, it could be any sort of loan payment,   So I don't think this is a real concern, at least as compared to some issuers being "concerned" about the level of your charges at say a drug store to fund the bluebird.


True, some people are loading cards etc.. but some are also charging rent directly, thats where my advice rolls on in :smileyhappy:

Whats In My Wallet? A Whole Lotta' Awesomeness!
Senior Contributor
B335is
Posts: 4,229
Registered: ‎09-22-2012
0

Re: Best Way to Pay rent with a Credit Card


longtimelurker wrote:

TRC2k13 wrote:

Wouldn't surprise me...  as I said earlier it would take me 41 years of paying my rent with my CC to accumulate enough reward points to buy a big screen TV.

 

Juuuuuusssssssstttttttttttt a little too long for me to bother with it...


Set get a better card, rent a more expensive place, and downgrade to a 50 inch!  That might only take 25 years.

 

 

But exactly the same calculation can be used as a reason not to use reward cards at all.   Presumably, if you have reward cards, you are buying other things with them, and the point about paying rent is it merely is an extra source of rewards on top of the other ones, that currently you do not get any rewards for.


+1

Everyone has their own rewards agenda and opinion on how to maximize their spend. I'm not sure why a 70" television seems to be the only objective but in my case it's miles. I've found a piece of electronics has horrendous redemption value. 

 

Established Member
JCreazy
Posts: 21
Registered: ‎09-07-2012
0

Re: Best Way to Pay rent with a Credit Card

I just want to do this so I can get the free year of Amazon Prime from Amazon,  I have already put $350 on it but I need $650 more and I would rather just get it done and over with instead of trying to charge stuff to the card I don't need to reach the $1000.




Member
casemodgod
Posts: 12
Registered: ‎03-27-2014
0

Re: Best Way to Pay rent with a Credit Card

www.rentshare.com

 

It costs you 2.9%

 

But its quick and efficient.  You pay them, they charge the swipe fees to you, and cut the check to your landlord.

 

Its an option if the other methods stop working, thats a legitimate route to take.  Sure on $1,000 its going to cost you $29.

 

But for example, my rewards are worth about $800 on one card, so its a no brainer.  If they code that website as a utility 

too, that could net you 5% in rewards too for some cards, nullifying the 2.9% fee completely.

 

 

Super Contributor
longtimelurker
Posts: 7,258
Registered: ‎04-22-2013
0

Re: Best Way to Pay rent with a Credit Card


casemodgod wrote:

www.rentshare.com

 

It costs you 2.9%

 

But its quick and efficient.  You pay them, they charge the swipe fees to you, and cut the check to your landlord.

 

Its an option if the other methods stop working, thats a legitimate route to take.  Sure on $1,000 its going to cost you $29.

 

But for example, my rewards are worth about $800 on one card, so its a no brainer.  If they code that website as a utility 

too, that could net you 5% in rewards too for some cards, nullifying the 2.9% fee completely.

 

 


You responded to an old thread, but your reply is interesting.  What do you mean the rewards are worth $800 on one card?  Surely not for a single $1000 transaction, unless you are meeting minimum spend, otherwise you have an 80% card.

 

For meeting minimum spend, these types of service (chargesmart, williamspaid) are still more expensive than alternatives like serve/bluebird/MO, but are very simple and so can be a reasonable choice.   But usually, for month to month rewards, much less so, unless you have a high valuation on UR/MR/SPG/whatever is being earned.

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