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Paying Rent on CC to avoid BT Fee

zen25
Contributor

Paying Rent on CC to avoid BT Fee

Lot of landlords are accepting rent on CC without Fee.

Check with yours and can use that to move balances from card to card.

Message 1 of 12
11 REPLIES 11
Physh1
Frequent Contributor

Re: Paying Rent on CC to avoid BT Fee

Paying rent on a credit card doesn't move balances from 1 card to another. This doesn't make sense...

Message 2 of 12
Gunnerboy
Frequent Contributor

Re: Paying Rent on CC to avoid BT Fee

Please elaborate on moving balances from card to card.



"Not everyone who helps you is a friend, and not everyone who challenges you is an enemy."
Message 3 of 12
Anonymous
Not applicable

Re: Paying Rent on CC to avoid BT Fee


@Physh1 wrote:

Paying rent on a credit card doesn't move balances from 1 card to another. This doesn't make sense...


Technically you can do this and it will move the balance from one card to another. 

Make a rent payment on credit card, take money for rent payment and put in towards balance on another card. Now you have moved that amount of money from one card to another. 

So say your rent is $2K and you have a credit card with a $2K balance and a second card with no balance. The balance on the first card is on a 0% interest promo that is about to run out. The second card has a promo of 0% interest on purchases for 12 months. You would pay the rent with the second card and take the cash you would normally use to pay your rent and pay off the balance on the expiring card, making that card $0 and your new card $2K. 

It's not officially a balance transfer but it has the same effect of moving a balance from one card to the other in the end. You're basically just freeing up cash for use towards paying your credit card down by putting an expense that normally is paid in cash on a credit card. 

Message 4 of 12
zen25
Contributor

Re: Paying Rent on CC to avoid BT Fee

Yes, not only this avoids BT Fee but you can also get rewards/points.

I just noticed this yesterday.

Message 5 of 12
GApeachy
Super Contributor

Re: Paying Rent on CC to avoid BT Fee

Hmmmp, clever.  Thanks @zen25  and @Anonymous (splaning) . 

"My Take Home Pay Don't Take Me Home"
Message 6 of 12
KLEXH25
Valued Contributor

Re: Paying Rent on CC to avoid BT Fee

The catch is finding a landlord that doesn't charge a fee. Many do. Mine does. 



Message 7 of 12
dragontears
Valued Contributor

Re: Paying Rent on CC to avoid BT Fee


@KLEXH25 wrote:

The catch is finding a landlord that doesn't charge a fee. Many do. Mine does. 


+1 mine charges 2.5%

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Haven't been AZEO in over a year
Rome was not built in a day, neither is a good credit profile
Message 8 of 12
zen25
Contributor

Re: Paying Rent on CC to avoid BT Fee

Actually mine used to charge CC fees.

But due to the pandemic, they have suspended CC Fees. I guess many landlords did.

 

I read somewhere one third of renters missed payment in April.

Landlords should be lucky to get full rent payment these days.

 

 

Message 9 of 12
Anonymous
Not applicable

Re: Paying Rent on CC to avoid BT Fee


@zen25 wrote:

Actually mine used to charge CC fees.

But due to the pandemic, they have suspended CC Fees. I guess many landlords did.

 

I read somewhere one third of renters missed payment in April.

Landlords should be lucky to get full rent payment these days.

 

 


Yeah our landlord sent the roommates a card thanking them for being great tenants because we paid our rent this month, on time and in full. 

Message 10 of 12
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