Would you do it?

[whydoineedaname]

So, we were just notified that the place we rent through is now taking debit and credit cards as a form of payment!!! (I dont want to meet the kind of person that would have to  pay their rent with a credit card thats just asking for problems.)

So we are not hurting to pay our bills by any stretch right now.  But... I see a potential for cash back :-)  basicly get 1% on my barclay card.  So... If I were to use that card I would get just over $10 back for one month...  The fee is just over $2 or so.

The only thing that worris me.  Its kind of a new card AND I only have a limit of $1400 with them.

Should I give it a go and Pay it in full as soon as it hits?

[axledobe]

If you're coming out ahead, I would do it but with a caveat.  I would let it post and immediately pay it.  That way, you're showing you aren't spending money you don't have, especially on your rent.  I can see where it might spook them a bit seeing rent on a CC.

I've been meeting minimum spend on my Citi AA card and have put my mortgage on it for the past two month.  To ensure there's no issues, I just PIF as soon as the charge posts.  No issues here and it's a new card, too.

[jesseh]

Sounds good. I would! Using your cards and paying them off is a great way to get higher credit limits and credit scores. By using the card a lot (and for larger amounts) you could have better chances getting a credit limit increase. Do pay the rent in full before the statement hits, as the big util would not look good.

good opportunity here.

note: I should stress that carrying a balance to pay your rent is very bad.. This strategy is only recommendable to people who can pay off the rent in full within a few days and are willing to maintain the card responsibly (checking when the statement date, when the rent payment is, take the time to pay off a purchase before the statement hits, then also pay the statement)

[alvon123]

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@whydoineedaname wrote:

So, we were just notified that the place we rent through is now taking debit and credit cards as a form of payment!!! (I dont want to meet the kind of person that would have to  pay their rent with a credit card thats just asking for problems.)

So we are not hurting to pay our bills by any stretch right now.  But... I see a potential for cash back :-)  basicly get 1% on my barclay card.  So... If I were to use that card I would get just over $10 back for one month...  The fee is just over $2 or so.

The only thing that worris me.  Its kind of a new card AND I only have a limit of $1400 with them.

Should I give it a go and Pay it in full as soon as it hits?

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I am not sure what your monthly rent payment are, you may want to make sure that making payments with this card  will not hurt your utilization and cause your credit scores to drop.

[coldnmn]

I would if you pay it as soon as it posts. If you do that Barclay may give you a CLI.

[whydoineedaname]

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@alvon123 wrote:

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I am not sure what your monthly rent payment are, you may want to make sure that making payments with this card  will not hurt your utilization and cause your credit scores to drop.

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I would not even consider this unless I knew I could Pay in full as soon as it hits...

[whydoineedaname]

I will give it a go an let you all know what happens...

[striehl8212]

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@whydoineedaname wrote:

I will give it a go an let you all know what happens...

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I'd check to see if there is an additional fee for using a credit card as a form of payment. That could wipe out the potential benefit of the cash back on the card. My apartment complex allowed the use of a credit card as a form of payment, but there was a $20 additional fee for the service. If there is no fee involved, that is a pretty sweet deal. 

[whydoineedaname]

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@striehl8212 wrote:

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@whydoineedaname wrote:

I will give it a go an let you all know what happens...

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I'd check to see if there is an additional fee for using a credit card as a form of payment. That could wipe out the potential benefit of the cash back on the card. My apartment complex allowed the use of a credit card as a form of payment, but there was a $20 additional fee for the service. If there is no fee involved, that is a pretty sweet deal. 

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For sure...

I checked into it and the fee is smaller than the cashback.  Mostly I wanted to do it to use a large amount on the card and pay it off...  The extra cashback is just a cool thing :-)

[navigatethis12]

I don't see the problem with waiting until the bill comes and then paying it then. If you don't want high utilisation, then just pay the day of or before the statement closes to avoid it. You really don't need to pay as soon as a charge posts to show you can be responsible. As long as the payment isn't late, it isn't a big deal.