topic Re: Paying Rent through RadPad in Personal Finance

Paying Rent through RadPad

mikelo22 — Tue, 03 Feb 2015 05:08:04 GMT

Hey all, so I'm wanting to pay my rent with my Amex. But my LL does not take Amex. As a result, I'm considering paying rent through RadPad. It's a site where you pay them your rent + 2.99% and then they send a check with all your name and info to your Landlord.

I was wondering if anyone had any experience with them? The 2.99% fee didn't sound too bad to me, but is there anything else out there better?

Thanks.

Re: Paying Rent through RadPad

CreditCuriosity — Tue, 03 Feb 2015 05:53:31 GMT

Another site similiar to it, name is eluding me right now, but ya about 2.95% fee to pay rent... Was going to use it to meet spend bonus on my CSP, but didn't end up needing to.. Probably the best you are going to get.

Re: Paying Rent through RadPad

B335is — Tue, 03 Feb 2015 05:58:51 GMT

Can you use Amex for this? Most of these sites are MC/Visa limited and sometimes Discover. 2.99% is pretty close to what I would pay my leasing company directly though.

Re: Paying Rent through RadPad

gmason — Tue, 03 Feb 2015 05:59:34 GMT

Do a search for williampaid -- it used to be mentioned fairly often.

Re: Paying Rent through RadPad

CreditCuriosity — Tue, 03 Feb 2015 06:00:41 GMT

@B335is wrote:
Can you use Amex for this? Most of these sites are MC/Visa limited and sometimes Discover. 2.99% is pretty close to what I would pay my leasing company directly though.

ugh which i could remember the site.. doubtful on amex though as you stated as swipe fees is 5%, so they would be losing money one would think not that i think about it

Re: Paying Rent through RadPad

mikelo22 — Tue, 03 Feb 2015 06:03:06 GMT

@B335is wrote:
Can you use Amex for this? Most of these sites are MC/Visa limited and sometimes Discover. 2.99% is pretty close to what I would pay my leasing company directly though.

Yes, RadPad accepts Amex.

My Landlord only accepts MC/Visa and charges a $20 convenience fee. Running my Amex through RadPad with a 2.99% fee would be a $28.67 fee with my $959/month rent. So a bit more, but worth it since I'll be using it to meet spend bonus.

Re: Paying Rent through RadPad

mikelo22 — Tue, 03 Feb 2015 06:02:14 GMT

@gmason wrote:
Do a search for williampaid -- it used to be mentioned fairly often.

Thanks, I'll check them out as well!

Sorry for double-post.

Re: Paying Rent through RadPad

B335is — Tue, 03 Feb 2015 06:03:18 GMT

It might be worth it for me if it accepts Amex. It's always a struggle to make $5k bonus spend on one card - let alone two. Thanks for the tip, I'll look into it.

Re: Paying Rent through RadPad

CreditCuriosity — Tue, 03 Feb 2015 06:04:29 GMT

Williams is who i was thinking... still don't know why they would lose money on rent? Can see MC/Visa as fees are around 2% so profit can be made there, but amex is 5%..Trying to figure out how that would work out so they don't lose money?

Re: Paying Rent through RadPad

Anonymous — Tue, 03 Feb 2015 06:18:52 GMT

They may have a more favorable agreement with AMEX.

Re: Paying Rent through RadPad

Revelate — Tue, 03 Feb 2015 07:50:42 GMT

@CreditCuriousity wrote:
Williams is who i was thinking... still don't know why they would lose money on rent? Can see MC/Visa as fees are around 2% so profit can be made there, but amex is 5%..Trying to figure out how that would work out so they don't lose money?

They may not be aware of it, or they may have a tiered pricing plan where the transaction costs are essentially hidden by the tier.

If they could make all their transactions qualified or under interchange plus pricing it's possible they might make some money on it. It's not a lot, likely would be a billion people doing it if there were money in it as it's trivial to compete against; priced as a commodity product right from the outset.

Even if they were lazy and using authorize.net's merchant services in addition to their payment gateway, would still be making 0.1%, and could likely do better than that if smart. One dude out of a garage business plan, not hard, could be done.

Re: Paying Rent through RadPad

cematteson — Tue, 03 Feb 2015 17:53:39 GMT

Try rentpayment.com they are an online payment service for landlords and apartment communities. They take AMEX and the fee should be a flat $19.95. I am a property Manager and we use this service at my community and I get an e-mail and fax as soon as my resident pays through this service. Not sure if you LL needs to be signed up to accept or not but worth a shot.

Re: Paying Rent through RadPad

Imperfectfuture — Mon, 23 Feb 2015 01:53:37 GMT

@cematteson wrote:
Try rentpayment.com they are an online payment service for landlords and apartment communities. They take AMEX and the fee should be a flat $19.95. I am a property Manager and we use this service at my community and I get an e-mail and fax as soon as my resident pays through this service. Not sure if you LL needs to be signed up to accept or not but worth a shot.

Fees are lower if rent is lower using app.

Re: Paying Rent through RadPad

blessed-man1980 — Wed, 25 Feb 2015 12:06:59 GMT

I'm renting a room in a house ,can I make this payment to prvt landlord ? . Not sure if this works ..sorry to haijack