topic Re: Best Way to Pay rent with a Credit Card in Credit Cards

Best Way to Pay rent with a Credit Card

vayub4 — Thu, 20 Feb 2014 20:29:53 GMT

Hi Fico Fam,

I am trying to maximize cashback/points on all my cards. I am trying to begin this tradition of paying for everything possible with a credit card. If anyone knows a very relaible way of paying rent with credit card kindly suggest to me. I don't mind paying between $5 and $7 for the service as long as it would not seem like a cash advance kind of thing.

All suggestions valued

Re: Best Way to Pay rent with a Credit Card

yudeology101 — Thu, 20 Feb 2014 20:33:27 GMT

There are a number of ways to do it, i'm currently using the AMEX Bluebird checking account and loading the funds using Vanilla reloads. Basically, you purchase the Vanilla reloads at the stores using your CCs( so you can get rewards and such) and use the Vanilla reloads to load the funds to Bluebird and pay rent w/ it.

Re: Best Way to Pay rent with a Credit Card

Stralem — Thu, 20 Feb 2014 20:38:45 GMT

@yudeology101 wrote:
There are a number of ways to do it, i'm currently using the AMEX Bluebird checking account and loading the funds using Vanilla reloads. Basically, you purchase the Vanilla reloads at the stores using your CCs( so you can get rewards and such) and use the Vanilla reloads to load the funds to Bluebird and pay rent w/ it.

That seems like a lot of effort. Are the rewards really worth that much trouble?

Re: Best Way to Pay rent with a Credit Card

Themanwhocan — Thu, 20 Feb 2014 20:50:50 GMT

Well, this isn't what you asked, but I did come across something that interested me yesterday. It seems that with Bank of America Travel Rewards card (and some of their other cards) you need to redeem your rewards points for travel expenses. And one of the Travel expense categories is MCC 6513 Real Estate Agents and Mgrs - Rentals. Which is what my apartment rent is coded as...

I'd love to find the opposite, ie, a card that gives travel rewards for spending in category 6513. Or anything that gives more than 2%. Actually that is what I was searching for when I came across the BOA information.

I'm actually paying my rent this month with a 2% cash back on all categories card. unfortunately they charge me a $17 fee to pay via credit card. That brings my $710 rent up to $727, but i get back $14.52 in cash back so I end up losing only a few dollars, but get to set a new high spend on my credit card. I'm hoping for CLI's in the future

In your case, first see if they allow payments via credit card, and if so what the fee is. Or were you hoping for a credit card that would have a bill pay feature that mailed actual checks, or ?

Edit: or maybe I just need a more expensive apartment At $850+$17 I would make a profit using a 2% card

Re: Best Way to Pay rent with a Credit Card

yudeology101 — Thu, 20 Feb 2014 20:48:46 GMT

@Stralem wrote:
@yudeology101 wrote:
There are a number of ways to do it, i'm currently using the AMEX Bluebird checking account and loading the funds using Vanilla reloads. Basically, you purchase the Vanilla reloads at the stores using your CCs( so you can get rewards and such) and use the Vanilla reloads to load the funds to Bluebird and pay rent w/ it.
That seems like a lot of effort. Are the rewards really worth that much trouble?

Well, i thought so at first...but it's not that bad afterall. If you're trying to maximize your reward system on your CCs to treat yourself w/ something nice later on, you'll def. put in that extra effort to do it. At first I thought do i really want to take these extra steps just to pay rent? But hey I get happier and happier seeing my miles/ reward points stack up and feel accomplished in some way. Plus, i'm showing signs of heavy usage on my CCs and PIF so it also looks good to the lenders IMO. Bottom line is, if you can manage 10+ cards responsively, then you can definitely find room to put in the extra effort to do this as well.

Re: Best Way to Pay rent with a Credit Card

Justrebuilding — Thu, 20 Feb 2014 20:55:30 GMT

You can load 1k-1.5k a month on to a Serve card from your cc and then use the bill pay to pay rent. My cc does not charge CA fee but you may want to do a small test with yours to make sure it doesn't charge. My serve acct is free, depending on if you meet requirements it will be free or $1/mo. I love it, very easy.

Re: Best Way to Pay rent with a Credit Card

Creditaddict — Thu, 20 Feb 2014 21:01:52 GMT

@yudeology101 wrote:
@Stralem wrote:
@yudeology101 wrote:
There are a number of ways to do it, i'm currently using the AMEX Bluebird checking account and loading the funds using Vanilla reloads. Basically, you purchase the Vanilla reloads at the stores using your CCs( so you can get rewards and such) and use the Vanilla reloads to load the funds to Bluebird and pay rent w/ it.
That seems like a lot of effort. Are the rewards really worth that much trouble?
Well, i thought so at first...but it's not that bad afterall. If you're trying to maximize your reward system on your CCs to treat yourself w/ something nice later on, you'll def. put in that extra effort to do it. At first I thought do i really want to take these extra steps just to pay rent? But hey I get happier and happier seeing my miles/ reward points stack up and feel accomplished in some way. Plus, i'm showing signs of heavy usage on my CCs and PIF so it also looks good to the lenders IMO. Bottom line is, if you can manage 10+ cards responsively, then you can definitely find room to put in the extra effort to do this as well.

Vanilla card is only $3.74 per $500 always? or is that just Walmart Price and with debt or that include with credit card?

CVS is it $3.74 per $500?

anywhere that take BCP?

or else looks like fidelity!

Re: Best Way to Pay rent with a Credit Card

Jlu — Thu, 20 Feb 2014 21:07:09 GMT

The cheapest way I've found to turn credit into cash is as follows:

1. Go to squareup.com and get a free credit card reader that plugs into the mic jack on your phone.

2. Link your bank account to the Square account.

3. Charge your card rent + 2.75% (Square's flat rate merchant fee).

4. Collect 1 to 2% cash back from CC.

5. You now have rent money, no cash advance fees and no extra interest since CC thinks it's a point of sale purchase.

Not something you should get in the habit of doing but I'll admit to doing it once or twice when cash flow was especially tight.

Re: Best Way to Pay rent with a Credit Card

yudeology101 — Thu, 20 Feb 2014 21:13:24 GMT

@Creditaddict wrote:
@yudeology101 wrote:
@Stralem wrote:
@yudeology101 wrote:
There are a number of ways to do it, i'm currently using the AMEX Bluebird checking account and loading the funds using Vanilla reloads. Basically, you purchase the Vanilla reloads at the stores using your CCs( so you can get rewards and such) and use the Vanilla reloads to load the funds to Bluebird and pay rent w/ it.
That seems like a lot of effort. Are the rewards really worth that much trouble?
Well, i thought so at first...but it's not that bad afterall. If you're trying to maximize your reward system on your CCs to treat yourself w/ something nice later on, you'll def. put in that extra effort to do it. At first I thought do i really want to take these extra steps just to pay rent? But hey I get happier and happier seeing my miles/ reward points stack up and feel accomplished in some way. Plus, i'm showing signs of heavy usage on my CCs and PIF so it also looks good to the lenders IMO. Bottom line is, if you can manage 10+ cards responsively, then you can definitely find room to put in the extra effort to do this as well.

Vanilla card is only $3.74 per $500 always? or is that just Walmart Price and with debt or that include with credit card? Yes & i don't know about Wal-Mart prices
CVS is it $3.74 per $500? Yep, just about right.
anywhere that take BCP? To purchase Vanilla reloads? If so, yes you can use your BCP to purchase.
or else looks like fidelity!

Re: Best Way to Pay rent with a Credit Card

Creditaddict — Thu, 20 Feb 2014 21:17:19 GMT

@yudeology101 wrote:
@Creditaddict wrote:
@yudeology101 wrote:
@Stralem wrote:
@yudeology101 wrote:
There are a number of ways to do it, i'm currently using the AMEX Bluebird checking account and loading the funds using Vanilla reloads. Basically, you purchase the Vanilla reloads at the stores using your CCs( so you can get rewards and such) and use the Vanilla reloads to load the funds to Bluebird and pay rent w/ it.
That seems like a lot of effort. Are the rewards really worth that much trouble?
Well, i thought so at first...but it's not that bad afterall. If you're trying to maximize your reward system on your CCs to treat yourself w/ something nice later on, you'll def. put in that extra effort to do it. At first I thought do i really want to take these extra steps just to pay rent? But hey I get happier and happier seeing my miles/ reward points stack up and feel accomplished in some way. Plus, i'm showing signs of heavy usage on my CCs and PIF so it also looks good to the lenders IMO. Bottom line is, if you can manage 10+ cards responsively, then you can definitely find room to put in the extra effort to do this as well.

Vanilla card is only $3.74 per $500 always? or is that just Walmart Price and with debt or that include with credit card? Yes & i don't know about Wal-Mart prices
CVS is it $3.74 per $500? Yep, just about right.
anywhere that take BCP? To purchase Vanilla reloads? If so, yes you can use your BCP to purchase.
or else looks like fidelity!

jcpenney doesn't give any rewards when used at CVS right?

my Fidelity would be best payout if it's CVS, Walgreens, or Walmart to buy Vanilla Reloads right? I don't see any groceries that list vanilla as option to buy.

Re: Best Way to Pay rent with a Credit Card

vayub4 — Thu, 20 Feb 2014 21:25:10 GMT

I would rather not use Serve or blue bird cards because these companies can freeze cards whenever they want. I have had my close to $300 frozen on a google wallet card for over a month before I finally got it. Since then I vowed I would never do these mediocre card business again!

I would like something that works like CHECK(formerly Pageonce) where I can just give them my card and give them the name and address of my rental office and they either send a check or make arrangements with them to deposit the money whichever way they agree. I am trying to get as much cashback/points as possible to fund a trip in 2017. So between now and 2017 I would be paying at least $30k in rent! So I figured cashback alone from that should buy my plane ticket

Re: Best Way to Pay rent with a Credit Card

Creditaddict — Thu, 20 Feb 2014 21:28:19 GMT

@vayub4 wrote:
I would rather not use Serve or blue bird cards because these companies can freeze cards whenever they want. I have had my close to $300 frozen on a google wallet card for over a month before I finally got it. Since then I vowed I would never do these mediocre card business again!

I would like something that works like CHECK(formerly Pageonce) where I can just give them my card and give them the name and address of my rental office and they either send a check or make arrangements with them to deposit the money whichever way they agree. I am trying to get as much cashback/points as possible to fund a trip in 2017. So between now and 2017 I would be paying at least $30k in rent! So I figured cashback alone from that should buy my plane ticket

I know of 2 rent paying websites (google it) but the fees are to high for me to come close to making it worth it.

Re: Best Way to Pay rent with a Credit Card

vayub4 — Thu, 20 Feb 2014 21:30:54 GMT

So assuming rent is $600 square would charge $16.50? Is my Simple calculations wrong? If it is correct that sounds ridiculously high for a merchant to charge that much for a swipe! I wonder how small businesses survive on such high fees!!!

Aside from the high fees this is actually a great idea...

Re: Best Way to Pay rent with a Credit Card

yudeology101 — Thu, 20 Feb 2014 21:31:52 GMT

@vayub4 wrote:
I would rather not use Serve or blue bird cards because these companies can freeze cards whenever they want. I have had my close to $300 frozen on a google wallet card for over a month before I finally got it. Since then I vowed I would never do these mediocre card business again!

I would like something that works like CHECK(formerly Pageonce) where I can just give them my card and give them the name and address of my rental office and they either send a check or make arrangements with them to deposit the money whichever way they agree. I am trying to get as much cashback/points as possible to fund a trip in 2017. So between now and 2017 I would be paying at least $30k in rent! So I figured cashback alone from that should buy my plane ticket

Bluebird I'm using is basically a free checking account per se, and i've just ordered my free checks in the mail which i will start using to pay rent. Since I haven't had any trouble loading the funds using Vanilla reloads (there's even a link on Bluebird to guide the members how to load the funds from it), so I feel pretty good about it. I mean you're right about cards being frozen, but I believe all cards are subject to being frozen if the banks suspects something going on (spending patterns/ suspicious purchases, etc.) but i'm only using Bluebird for one thing only to maximize my rewards from my CCs, which is to pay rent.

Re: Best Way to Pay rent with a Credit Card

Anonymous — Thu, 20 Feb 2014 22:11:01 GMT

Vanilla Reloads are (here anyway) $3.95. that's the price marked on the cards. Bluebird and Serve, both Amex products, do not appear to be prone to shut-downs. Some things like linking to a gift card rather than a "proper" debit card, might cause a call, but, unlike on many prepaid cards, I haven't seen reports of lengthy shutdowns where you can't get your funds.

Is it worth it? Just depends on the card and how you value rewards. With a 5x drug store card, to pay say $1,500 takes three VRs, for a cost of $11:85 and generates $75 in rewards. If you had to make a special 50 mile trip to a CVS, no, not worth it. But if one is close, and you go there anyway, why not? Just load the VR at home, and enter the info into the BB site, and the check is on its way (no postage needed!)

Re: Best Way to Pay rent with a Credit Card

JSS3 — Thu, 20 Feb 2014 22:33:02 GMT

@Jlu wrote:
The cheapest way I've found to turn credit into cash is as follows:

1. Go to squareup.com and get a free credit card reader that plugs into the mic jack on your phone.
2. Link your bank account to the Square account.
3. Charge your card rent + 2.75% (Square's flat rate merchant fee).
4. Collect 1 to 2% cash back from CC.
5. You now have rent money, no cash advance fees and no extra interest since CC thinks it's a point of sale purchase.

Not something you should get in the habit of doing but I'll admit to doing it once or twice when cash flow was especially tight.

This is well within CC guidelines, correct? There's no AA that can be taken against you for doing this? Also, I'm assuming the money gets directly deposited into your Checking account? I worry because this sounds like a workaround for the credit card company's 3% BT fee. Doesn't sound like something banks would like.

Re: Best Way to Pay rent with a Credit Card

Creditaddict — Thu, 20 Feb 2014 22:42:10 GMT

@JSS3 wrote:
@Jlu wrote:
The cheapest way I've found to turn credit into cash is as follows:

1. Go to squareup.com and get a free credit card reader that plugs into the mic jack on your phone.
2. Link your bank account to the Square account.
3. Charge your card rent + 2.75% (Square's flat rate merchant fee).
4. Collect 1 to 2% cash back from CC.
5. You now have rent money, no cash advance fees and no extra interest since CC thinks it's a point of sale purchase.

Not something you should get in the habit of doing but I'll admit to doing it once or twice when cash flow was especially tight.
This is well within CC guidelines, correct? There's no AA that can be taken against you for doing this? Also, I'm assuming the money gets directly deposited into your Checking account? I worry because this sounds like a workaround for the credit card company's 3% BT fee. Doesn't sound like something banks would like.

THEY DONT.... but you keep to a certain amount and you won't flag it... keep in mind Square just like PayPal if you do more than $20k they will send you 1099-K or whatever the special one is for Taxes and you WILL have to report it if you go that much... if it's under that you wouldn't "have" to report but I have had a square account locked before (back when square first came out) after some back and forth emails and them checking the payments were good with the credit cards they were released in the end but it took a month (but it was also a sizable amount and not just 1 card charged)

If you are looking for $1-$2k a month on it just for the purpose of basically cash advancing your own credit card and the square account is in your name... I wouldn't suggest it.

if it's under $1k and maybe you could pay a square account in a roommates name and going into their checking instead of yours and you tack on the fee to the amount charged so what they end up with in checking is the amount for rent, then sure! no issue.

Re: Best Way to Pay rent with a Credit Card

JSS3 — Thu, 20 Feb 2014 22:51:36 GMT

@Creditaddict wrote:
@JSS3 wrote:
@Jlu wrote:
The cheapest way I've found to turn credit into cash is as follows:

1. Go to squareup.com and get a free credit card reader that plugs into the mic jack on your phone.
2. Link your bank account to the Square account.
3. Charge your card rent + 2.75% (Square's flat rate merchant fee).
4. Collect 1 to 2% cash back from CC.
5. You now have rent money, no cash advance fees and no extra interest since CC thinks it's a point of sale purchase.

Not something you should get in the habit of doing but I'll admit to doing it once or twice when cash flow was especially tight.
This is well within CC guidelines, correct? There's no AA that can be taken against you for doing this? Also, I'm assuming the money gets directly deposited into your Checking account? I worry because this sounds like a workaround for the credit card company's 3% BT fee. Doesn't sound like something banks would like.
THEY DONT.... but you keep to a certain amount and you won't flag it... keep in mind Square just like PayPal if you do more than $20k they will send you 1099-K or whatever the special one is for Taxes and you WILL have to report it if you go that much... if it's under that you wouldn't "have" to report but I have had a square account locked before (back when square first came out) after some back and forth emails and them checking the payments were good with the credit cards they were released in the end but it took a month (but it was also a sizable amount and not just 1 card charged)
If you are looking for $1-$2k a month on it just for the purpose of basically cash advancing your own credit card and the square account is in your name... I wouldn't suggest it.
if it's under $1k and maybe you could pay a square account in a roommates name and going into their checking instead of yours and you tack on the fee to the amount charged so what they end up with in checking is the amount for rent, then sure! no issue.

Ahh percisely what I would've used it for while thinking I could put it in my name. That just SCREAMED risk. LOL I would've hooked it up and done it if in a crunch. Don't really need cash advances, but it's always nice to know what you can do(and how to do it) if that time ever comes.

Re: Best Way to Pay rent with a Credit Card

Stralem — Thu, 20 Feb 2014 22:51:11 GMT

Just reading about how you guys game the system is both inspiring and exhausting.

I'm quite the lazy SOB, so I just plunk down cash for rent. No muss, no fuss.

But of course, no rewards either.

I think I'll live.

Re: Best Way to Pay rent with a Credit Card

Smooth954 — Thu, 20 Feb 2014 23:01:45 GMT

@JSS3 wrote:
@Creditaddict wrote:
@JSS3 wrote:
@Jlu wrote:
The cheapest way I've found to turn credit into cash is as follows:

1. Go to squareup.com and get a free credit card reader that plugs into the mic jack on your phone.
2. Link your bank account to the Square account.
3. Charge your card rent + 2.75% (Square's flat rate merchant fee).
4. Collect 1 to 2% cash back from CC.
5. You now have rent money, no cash advance fees and no extra interest since CC thinks it's a point of sale purchase.

Not something you should get in the habit of doing but I'll admit to doing it once or twice when cash flow was especially tight.
This is well within CC guidelines, correct? There's no AA that can be taken against you for doing this? Also, I'm assuming the money gets directly deposited into your Checking account? I worry because this sounds like a workaround for the credit card company's 3% BT fee. Doesn't sound like something banks would like.
THEY DONT.... but you keep to a certain amount and you won't flag it... keep in mind Square just like PayPal if you do more than $20k they will send you 1099-K or whatever the special one is for Taxes and you WILL have to report it if you go that much... if it's under that you wouldn't "have" to report but I have had a square account locked before (back when square first came out) after some back and forth emails and them checking the payments were good with the credit cards they were released in the end but it took a month (but it was also a sizable amount and not just 1 card charged)
If you are looking for $1-$2k a month on it just for the purpose of basically cash advancing your own credit card and the square account is in your name... I wouldn't suggest it.
if it's under $1k and maybe you could pay a square account in a roommates name and going into their checking instead of yours and you tack on the fee to the amount charged so what they end up with in checking is the amount for rent, then sure! no issue.
Ahh percisely what I would've used it for while thinking I could put it in my name. That just SCREAMED risk. LOL I would've hooked it up and done it if in a crunch. Don't really need cash advances, but it's always nice to know what you can do(and how to do it) if that time ever comes.

Facts... I have done this with my cap1 card and fraud department stopped the transaction immediately I had to call and tell them I was the one attemping the transaction answer a few security questions they even had to hang up and call back my number on file to make sure they were really speaking with me. Anyway they let it through.