Credit Cards

[trumpet-205]

Buying a money order regardless of where is CASH ADVANCE!

The only thing I can think of is asking your landlord to accept Amazon Payments, which does allow you to use credit card without being charged as cash advance or interchange fee.

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MustangSaluki wrote:

williampaid.com lets you pay the rent with your cc for a nominal fee (2.95%). It is the most popular service among FlyerTalkers and comes highly recommended. We have been using it for last few months and pretty happy with. Regret about not knowing this earlier actually.

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Which cancels out any reward since 2.95% beats 1% or 2% return from credit card. In the end it costs you more money to pay rent.

[seigex]

Just to add to this, some of the more nationwide/corporate property management places do allow you to make credit card payments without fees. Equity Residential / Equity Apartments is one... I lived there when I had bad credit, now that I have points cards I unfortunately don't live there anymore  Back then I paid $1550/mo for rent, which would have giving me at least $186 back a year... oh well

[trumpet-205]

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seigex wrote:

Just to add to this, some of the more nationwide/corporate property management places do allow you to make credit card payments without fees. Equity Residential / Equity Apartments is one... I lived there when I had bad credit, now that I have points cards I unfortunately don't live there anymore  Back then I paid $1550/mo for rent, which would have giving me at least $186 back a year... oh well

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They incorporate fee into the rent. So paying with cash actually cost more since you do not get to recover 1 to 2% of interchange fee.

[MustangSaluki]

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trumpet-205 wrote:

Buying a money order regardless of where is CASH ADVANCE!

The only thing I can think of is asking your landlord to accept Amazon Payments, which does allow you to use credit card without being charged as cash advance or interchange fee.

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MustangSaluki wrote:

williampaid.com lets you pay the rent with your cc for a nominal fee (2.95%). It is the most popular service among FlyerTalkers and comes highly recommended. We have been using it for last few months and pretty happy with. Regret about not knowing this earlier actually.

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Which cancels out any reward since 2.95% beats 1% or 2% return from credit card. In the end it costs you more money to pay rent.

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it may not be the best return but sure comes in handy for meeting spending and is a great alternative to cach/check in several other situations. Also for $5 more WilliamPaid can report to the CRAs, I believe as an Installment loan (not sure of this yet). Bottom lime this service has definite use.for some.

[trumpet-205]

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MustangSaluki wrote:

it may not be the best return but sure comes in handy for meeting spending and is a great alternative to cach/check in several other situations. Also for $5 more WilliamPaid can report to the CRAs, I believe as an Installment loan (not sure of this yet). Bottom lime this service has definite use.for some.

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FICO Expansion score mentioned by WilliamPaid is actually useless (virtually no lender use it, even worse than VantageScore). FICO score that lenders actually DO use ignores rental TL from WilliamPaid.

Furthermore, it gets reported to PRBC, not your EQ/EX/TU. Sometime utility companies might use PRBC, but I know no lender use PRBC.

[LilNYC]

I never heard of Williampaid before. Anyone know if it can be setup as a recurring charge on your cc? If so, it would count as bill pay category with US Bank cash+.  5% back-2.95% fee=2.05% cash back. Would be reason enough to app for US bank & pay rent thru williampaid, if this scenario is feasible.

[trumpet-205]

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LilNYC wrote:

I never heard of Williampaid before. Anyone know if it can be setup as a recurring charge on your cc? If so, it would count as bill pay category with US Bank cash+.  5% back-2.95% fee=2.05% cash back. Would be reason enough to app for US bank & pay rent thru williampaid, if this scenario is feasible.

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You have to call in and ask, although I suspect WilliamPaid use 8999 (professional service) as MCC (defines what type of transaction for Visa/MC).

I don't recall MCC has a code for rent.

[LilNYC]

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trumpet-205 wrote:

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LilNYC wrote:

I never heard of Williampaid before. Anyone know if it can be setup as a recurring charge on your cc? If so, it would count as bill pay category with US Bank cash+.  5% back-2.95% fee=2.05% cash back. Would be reason enough to app for US bank & pay rent thru williampaid, if this scenario is feasible.

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You have to call in and ask, although I suspect WilliamPaid use 8999 (professional service) as MCC (defines what type of transaction for Visa/MC).

I don't recall MCC has a code for rent.

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Thanks for the info.

[jordanmedical]

My renter does online but only ACH, they said they are looking into doing it for cc but we'll see.

[iMacDrew]

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seigex wrote:

Just to add to this, some of the more nationwide/corporate property management places do allow you to make credit card payments without fees. Equity Residential / Equity Apartments is one... I lived there when I had bad credit, now that I have points cards I unfortunately don't live there anymore  Back then I paid $1550/mo for rent, which would have giving me at least $186 back a year... oh well

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man thats over 900 cash back if you had a Cash+ just on bill payments, not quite sure if it would qualify under their requirements but would be sweet.