topic Re: Using Credit Card to Pay Rent in Credit Cards

Using Credit Card to Pay Rent

txbusted — Wed, 21 Oct 2015 18:57:09 GMT

So I have a new Cap One Plat card (2k limit) and I know from past experience with them that you are more likely to get a CLI if you have heavy usage. The only bill that I have that would account for half of it is my rent. My plan is to use it to pay my rent online the day before my rent is due and then pay it off as soon as it posts since I get paid the 1st of every month. I would like a nice credit increase down the line but I also don't want to charge unnecessary items in order to show heavy usage. This is my 5th CC but my highest limit. Right now my utilization is about 5-9%. I use my BOA rewards card to pay for gas and food since I get about 3% back on those.

My question: Will Cap One look at charging my rent negatively?

Re: Using Credit Card to Pay Rent

Anonymous — Wed, 21 Oct 2015 18:59:04 GMT

@txbusted wrote:
So I have a new Cap One Plat card (2k limit) and I know from past experience with them that you are more likely to get a CLI if you have heavy usage. The only bill that I have that would account for half of it is my rent. My plan is to use it to pay my rent online the day before my rent is due and then pay it off as soon as it posts since I get paid the 1st of every month. I would like a nice credit increase down the line but I also don't want to charge unnecessary items in order to show heavy usage. This is my 5th CC but my highest limit. Right now my utilization is about 5-9%. I use my BOA rewards card to pay for gas and food since I get about 3% back on those.

My question: Will Cap One look at charging my rent negatively?

No, it's fine to use the card to pay your rent

Re: Using Credit Card to Pay Rent

Anonymous — Wed, 21 Oct 2015 19:09:11 GMT

@txbusted wrote:
So I have a new Cap One Plat card (2k limit) and I know from past experience with them that you are more likely to get a CLI if you have heavy usage. The only bill that I have that would account for half of it is my rent. My plan is to use it to pay my rent online the day before my rent is due and then pay it off as soon as it posts since I get paid the 1st of every month. I would like a nice credit increase down the line but I also don't want to charge unnecessary items in order to show heavy usage. This is my 5th CC but my highest limit. Right now my utilization is about 5-9%. I use my BOA rewards card to pay for gas and food since I get about 3% back on those.

My question: Will Cap One look at charging my rent negatively?

Capital One will love you if you charge your rent and then pay in full.

Re: Using Credit Card to Pay Rent

Anonymous — Wed, 21 Oct 2015 19:12:09 GMT

@txbusted wrote:
So I have a new Cap One Plat card (2k limit) and I know from past experience with them that you are more likely to get a CLI if you have heavy usage. The only bill that I have that would account for half of it is my rent. My plan is to use it to pay my rent online the day before my rent is due and then pay it off as soon as it posts since I get paid the 1st of every month. I would like a nice credit increase down the line but I also don't want to charge unnecessary items in order to show heavy usage. This is my 5th CC but my highest limit. Right now my utilization is about 5-9%. I use my BOA rewards card to pay for gas and food since I get about 3% back on those.

My question: Will Cap One look at charging my rent negatively?

No, you should be fine paying rent with it.

Re: Using Credit Card to Pay Rent

Anonymous — Wed, 21 Oct 2015 19:14:35 GMT

Is there a fee for using the card to pay rent? If not, you are fine.

Re: Using Credit Card to Pay Rent

12njoy — Wed, 21 Oct 2015 19:20:32 GMT

No they won't care. The more your rent, the more swipe fees they make. Just make sure it's paid off before your statement closes which sounds like you are aware of that. Doing this should result in a nice increase as long as all other factors are good.

Re: Using Credit Card to Pay Rent

Anonymous — Wed, 21 Oct 2015 20:54:22 GMT

They don't care. Usually there is a fee. 1.5 % or so. I did that to quickly meet spend limits on my Freedom and CSP.

Re: Using Credit Card to Pay Rent

Kirmie2010 — Wed, 21 Oct 2015 22:47:48 GMT

They wont look at it bad, its just a purchase

Bad part will be if who you pay your rent to has a portal fee for using a CC (Mine does, like 16 dollars but with Discovers double cash back deal I make about 3 dollars each time I pay rent)

Ive also read of people that pay their rent with certain cards and it being listed as a cash advance instead of a purchase. I think it might of been Barclay, I also believe it was their rent company putting it through that way, not the card.

Re: Using Credit Card to Pay Rent

txbusted — Fri, 23 Oct 2015 02:03:59 GMT

@Anonymous wrote:
Is there a fee for using the card to pay rent? If not, you are fine.

Nope and I love it.

Re: Using Credit Card to Pay Rent

txbusted — Fri, 23 Oct 2015 02:05:51 GMT

@Kirmie2010 wrote:
They wont look at it bad, its just a purchase

Bad part will be if who you pay your rent to has a portal fee for using a CC (Mine does, like 16 dollars but with Discovers double cash back deal I make about 3 dollars each time I pay rent)
Ive also read of people that pay their rent with certain cards and it being listed as a cash advance instead of a purchase. I think it might of been Barclay, I also believe it was their rent company putting it through that way, not the card.

Right now I pay with my Debit Card every month. I guess I will just try it one month and see how it works out. If it doesn't then I can always switch back. Thanks.

Re: Using Credit Card to Pay Rent

Anonymous — Fri, 23 Oct 2015 02:15:33 GMT

@Anonymous wrote:
@txbusted wrote:
So I have a new Cap One Plat card (2k limit) and I know from past experience with them that you are more likely to get a CLI if you have heavy usage. The only bill that I have that would account for half of it is my rent. My plan is to use it to pay my rent online the day before my rent is due and then pay it off as soon as it posts since I get paid the 1st of every month. I would like a nice credit increase down the line but I also don't want to charge unnecessary items in order to show heavy usage. This is my 5th CC but my highest limit. Right now my utilization is about 5-9%. I use my BOA rewards card to pay for gas and food since I get about 3% back on those.

My question: Will Cap One look at charging my rent negatively?
Capital One will love you if you charge your rent and then pay in full.

+1 they want to see that your able to make the larger payments that would come with a larger CL.