How to pay your rent with a credit card

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How to Get Proof of Paying Rent Without a Rental Agreement

Paying monthly rent is a fact of life for apartment dwellers and house renters: “If you don’t pay, you can’t stay,” is the landlord’s mantra. Fortunately, getting your rent to the landlord is not a difficult task, provided you have the money to pay. Landlords will accept payment by check, money order or cash. Cash, however, is least desired by landlords because of the security issues that accompany handling large amounts. But no matter how you pay, always pay on time and always get a receipt.

Verify that your have the money necessary to pay the rent due, including any late fees or past due amounts. Check your bank account balance online, by using your financial institution’s customer service phone service, or by going into a branch or ATM.

Write a check or purchase a money order for the amount you want to pay: List your landlord as payee, date the check or money order, write “rent” on the memo line and sign the check or money order.

Address a stamped envelope to your landlord with the payment for mailing; you may also take your payment to your landlord if that is more convenient. Give cash, if he accepts it, to your landlord in person. Many landlords will automatically give you a receipt, regardless of your payment method, but make sure your get one if you pay in cash because it is your only proof of payment. The canceled check or money order receipt will serve as proof of payment if you use either of these forms of payment.

Get a receipt if you pay your rent in cash; store your receipts and canceled checks with your personal financial documents. Do not send cash through the mail. Always pay before the due date to avoid additional charges.

  • Get a receipt if you pay your rent in cash; store your receipts and canceled checks with your personal financial documents.
  • Do not send cash through the mail.
  • Always pay before the due date to avoid additional charges.

Robert C. Young began writing professionally in 1989 as a copywriter for an advertising specialty company. From 2000 to 2007 he operated a real-estate development and construction company. His work has been published online at SFGate and various other websites. He graduated with a Bachelor of Business Administration in economics from Georgia State University.

Posted by Frank Gogol

The pandemic and rising rent have been brutal on most people’s wallets. There might come a time when you don’t have any other choice but to borrow the rent money with your credit card. If you didn’t know, this is absolutely possible. But before you decide to do so, know the procedure, benefits, and consequences that can come of it.

Table of Contents

Can You Pay Your Rent With a Credit Card?

Paying the rent with a credit card depends on whether your landlord accepts credit cards as a payment mode. If they don’t, some workarounds will allow you to pay via credit card using third-party services, but you might have to pay extra fees. Some housing agencies allow tenants to pay rent via their Visa or MasterCard credit cards. But they could charge you a convenience fee of around 2.25%.

It can be confusing. You are using a credit card to pay your rent because you are financially struggling or don’t have the cash right now, so why are you being charged an extra fee? This is because every time you make a credit card transaction, the merchants levy a processing fee. They are securing their profits on the money you are borrowing by charging this convenience fee.

You might even be required to pay additional fees depending on your landlord. For example, if your monthly rent is $1,000, a convenience fee of 2.5% will add $25 extra to the payment you are making. In a year, these fees will amount to $300, which is about 33% of the rent you pay monthly.

If your landlord does not accept payments by credit card, you can use third-party online services like RentTrack, RadPad, or Plastiq. These third-party services will help you build a good credit history and stay on time with your payments. But they also charge a convenience fee to convert the credit card payment into a payment that the landlord accepts.

You can inquire with your landlord about acceptable payment methods. Even if you are not paying by cash, they could accept a check, automatic ACH, money order, Venmo, PayPal, Square, and other options.

How To Pay Your Rent with a Credit Card

If you are using a third-party service to pay your landlord with a credit card, make sure you understand the terms of services of that application. Some of them might require your landlord’s involvement.

Plastiq

This app does not need your landlord’s involvement to pay by credit card. It doesn’t even need your landlord to have an account with the app. Every time you use a credit card, they will charge a transaction fee of 2.85%, or 1% if you are using a debit card. You can schedule your payments or do them manually. Your landlord will receive the money electronically.

PlacePay

This app charges a 2.99% fee for a credit card transaction and a $1.95 flat fee for ACH payments. However, this requires your landlord to be involved and manually accept the payment to make the deposit. It also lets you schedule the payment or make it manually through your phone.

RentTrack

The website’s terms and conditions say that you don’t need your landlord’s approval to make payments. This service will send a paper check to your landlord. They charge a 2.95% transaction fee for credit cards and $6.95 for ACH payments. They also let renters improve their credit rating by issuing a credit card. They are registered with all three major credit bureaus: Expedient, Equifax, and TransUnion.

You should ask whether your landlord accepts payment methods via credit card and whether they report these payments to credit bureaus. Credit bureaus calculate your credit score, which could impact your possibility of buying any property, getting a loan, or credit down the line.

Lenders use this information to review your credit history and decide if you are trustworthy to borrow money from them.

Pros and Cons of Paying Your Rent With a Credit Card

Sometimes you might not have a choice but to pay with your credit card. But understand the implications of doing so.

  • Paying via credit card is extremely flexible. You don’t have to write physical checks.
  • If you have a good credit history and pay off your credit card debt in full every month, this is a good option.
  • You might earn rewards that could help recover some of the convenience fees.
  • The processing fee can be quite high. A 2.5% monthly fee willl become a substantial amount in a year and could prove to be a financial burden. It could also eliminate any rewards you are receiving via credit cards.
  • The credit utilization ratio could be off balance, which ultimately impacts your credit score. This ratio is to keep track of the credit you are borrowing. The ideal ratio is on the lower end, below 30%. Going above this percentage will really impact your credit scores.
  • If you were not responsible with your credit card payments, it could be maxed out. This means you will not be able to make any other essential transactions, and it could have a huge impact on your credit score.

Alternatives To Using Your Credit Card for Paying Rent

If using a credit card to pay the rent is not an ideal option for you, there are other choices available.

You can look for assistance if you are unemployed and cannot make rent payments. There are local government agencies, nonprofit groups, or charities that could provide help. You can also check with your landlord for assistance if you have an amicable relationship.

Utilize the following resources to reach out for help:

If it is feasible, you could look for roommates to share the burden. You could also move to a cheaper part of the city, helping you stay on top of your rent. Inquire if the landlord has a bonus policy if you can refer new tenants.

You could discuss with your landlord the option of helping with any labor in exchange for a reduction of rent.

Reaching out to family and friends in a time of need is also an option. In fact, if paying rent does not seem like an option, you could also consider moving in with them at least temporarily.

Recalculate your budget and figure out if you have the money to cover your share of the rent every month.

How to pay your rent with a credit card

Conclusion

Hopefully, this article provided you with enough insight into utilizing credit cards for rent payments. Sometimes, credit card rewards are just not worth the debt that you accrue in fees. If necessary, consider utilizing credit cards for a brief period, and make the full payment each month to keep on top of your credit score.

How to pay your rent with a credit card

Many or all of the products featured here are from our partners who compensate us. This may influence which products we write about and where and how the product appears on a page. However, this does not influence our evaluations. Our opinions are our own. Here is a list of our partners and here’s how we make money.

Using a credit card to pay your rent has its advantages. For starters, you don’t have to go through the trouble of writing a paper check and waiting for it to be cashed.

Plus, it gives you flexibility. If your rent is due before payday, you can cover the expense with your card and pay yourself back when your paycheck arrives, all while avoiding an awkward conversation with your landlord about late fees.

Even if your landlord doesn’t accept credit card payments, you still have options. Some rent payment services will facilitate credit card payments — for a fee. It’s convenient, but it may end up costing you more than you would have paid if you’d simply opened your checkbook.

How to pay rent with your credit card

Several services offer tenants the opportunity to make rent payments online. Some require your landlord’s involvement, while others don’t.

Plastiq

Plastiq lets you pay your landlord with a credit card, and it doesn’t require your landlord to have an account. You pay Plastiq a fee equaling 2.85% of your payment every time you use a credit card, or 1% when you use a debit card. Payments can be made manually or scheduled automatically. Plastiq then cuts your landlord a check or delivers an electronic payment.

PlacePay

PlacePay , formerly known as RentShare, requires landlords to accept direct deposit. It charges a fee of 2.99% for every credit card or debit card payment, and a $1.95 flat fee per ACH payment — a payment made directly from your bank account. The platform allows roommates to split the cost of rent and choose their own payment method. You can schedule payments automatically or pay manually via the mobile app for iPhone and Android devices.

RentTrack

RentTrack ‘s website notes you can use its service “without your landlord’s involvement. We mail them a paper check.” It charges a 2.95% fee when you pay with a credit card or $6.95 with an ACH payment. The service also offers tenants the opportunity to expand their credit portfolio when paying rent with a credit card. RentTrack reports payments to all three major credit bureaus — Equifax, Experian and TransUnion — which record the information used to calculate credit scores. Ask your landlord whether he or she already reports your rent payments to credit bureaus before you make this feature a deciding factor.

“ Ask your landlord whether he or she already reports your rent payments to credit bureaus. ”

“When a landlord reports rent payments to a credit bureau, it is presented as a separate tradeline or account on your credit report, much like an auto loan or a credit card,” John Danaher, president of consumer interactive at TransUnion, said via email. (TransUnion is a NerdWallet business partner.) “Lenders will review that, along with your other payment information, to determine your riskiness as a borrower. They will look favorably on consumers who demonstrate they have responsibly managed credit in the past.”

Factors to consider before paying rent with a credit card

Although paying rent with a credit card is convenient, it may not be the best move for your budget. Consider the following factors first:

Some rent payment services tout the opportunity to earn incentives for paying rent with rewards credit cards, but the cost of the processing fee can eliminate any reward earnings. If you have a rent payment of $1,000 and you’re paying a 2.99% processing fee, that’s an additional $29.90 every month. One rarity that doesn’t charge these fees is the Bilt Mastercard. The $0-annual-fee card earns rewards on rent and other purchases.

For most cards, though, credit card reward rates vary and they usually won’t exceed the cost of the fee. One exception: Your rent payment can help meet the spending requirement for a hefty credit card sign-up bonus .

“ Some rent payment services tout the opportunity to earn incentives for paying rent with rewards credit cards, but the cost of the processing fee can eliminate any earnings. ”

Some of these services offer ACH payments for free, but of course you’ll lose the flexibility of paying with a credit card. In some cases, ordering checks from your bank and paying your rent the old-fashioned way may still make the most sense.

Interest payments

It can be tempting to put rent on a credit card if you want to free up that money for something else, or if you can’t afford it that month. But if you don’t pay your credit card bill in full every month, the interest payments on your ongoing balance can pile up. Add that on top of the processing fee for the convenience of using a credit card, and your total costs escalate.

EFFECT on your credit score

Paying rent with a credit card could affect your credit score by increasing your credit utilization ratio — the total amount of debt you have compared with the amount of available credit you have. If, for example, you have a $10,000 credit limit and a $5,000 balance, your credit utilization would be 50%.

Your credit utilization ratio is a key factor in your credit score , so typically you should aim to keep it low, generally at no higher than 30%. But putting thousands of dollars in rent on a credit card can temporarily push that ratio higher.

Of course, if you’re struggling or experiencing an emergency and have no other immediate option, it may be necessary to make such a transaction. Just remember that as long as you keep up with your bill and can pay it back over time, your credit score will eventually bounce back.

Still, aim to exhaust all other options before going that route.

“ Paying rent with a credit card could affect your credit score by increasing your credit utilization ratio — the total amount of debt you have compared with the amount of available credit you have. ”

If you want to pay rent with a credit card, consider doing it with the credit card that has the lowest interest rate, and try requesting a credit limit increase from your issuer first. And then, of course, pay off the amount in full every month, or contribute as much as possible.

Should you pay rent with your credit card?

If you’re looking for flexibility and want to avoid the hassle of writing checks, paying rent with a credit card can be a good option — especially if you pay your credit card bill in full every month and you’re earning rewards that can help defray the cost of convenience fees.

But if you have a low credit limit or your income is unstable, putting your rent on your credit card could be risky. It could hurt your credit score and your wallet if you fail to pay it off in time. Weigh the pros and cons and make the best decision for your situation.

About the author: Melissa Lambarena is a credit cards writer at NerdWallet. Her work has been featured by The Associated Press, New York Times, Washington Post and USA Today. Read more

How to pay your rent with a credit card

Are you looking for ways to pay your rent without spending an amount from your salary or the bank account for the current month? Well, if, yes, then you’ve come to the right place. Paytm has introduced ways to pay rent with credit card online and send the money directly to your recipient’s bank account. Isn’t it something that you have always needed?

Now, are you thinking of how it is possible?

Let’s find out everything you need to know about transferring rent using a credit card to a bank account.

There can be many reasons as to why you would like to pay your rent through a credit card. Some of them being- improving your credit score, getting cashback and loyalty rewards, meeting your annual credit card spend limit or maybe just a delayed salary this month. No matter what the reason may be, you can now pay your rent with a credit card, but how?

The answer to this question is – Paytm. With Paytm’s new rent payment feature, you can pay your rent with your credit card. But how? Let’s find that out!

How to Pay Rent with a Credit Card on Paytm?

It is very easy to pay your rent on Paytm using your credit card. Just follow these simple steps-

  • Open the Paytm mobile application and go to the ‘Recharge & Pay Bills’ section
  • Search for the ‘Rent Payment’ service and tap on it
  • Choose where you want to send the money – to your recipient’s bank account or the UPI ID
  • Enter the bank account details or the UPI ID of your recipient
  • Click on ‘Proceed’ and select ‘Credit Card’ as the mode of your payment
  • Enter your card details and complete the payment

Once you make a payment, you will receive an email and an SMS to confirm your payment. The money will be transferred to your recipient’s bank account within two days.

Why Should I Pay Rent with Credit Card?

There are many benefits of paying your rent with a credit card, some of them are mentioned below:

  • 45 Days of Free Credit Period: There are no credit charges within the first 45 days of paying the rent. However, if you pay your credit card bill before that, you won’t attract any charges for that either
  • Earn Reward Points on Credit Card: Your monthly rent can be a big amount and therefore, using your credit card to pay rent can attract reward points and cashback
  • Improve your Credit Score: Using a credit card for paying rent regularly and paying the credit card bill on time can improve your credit score
  • Meeting Your Annual Credit Spend Limit: A lot of credit card users face the problem of not being able to meet the annual spending limit of their credit cards. By paying the rent with your credit card, you can easily meet your annual spending limit.

Why use Paytm to Pay Rent?

You can pay rent for your house, shop, pay your broker and even the token amount at Paytm. It offers many additional benefits to the users for paying rent on the portal. That makes the overall experience of the users even better for paying their rents online. Here are some of the benefits of using Paytm for paying rent through a credit card-

  • Lowest transaction fee: Paytm only charges 1% of the rent amount when you choose a credit card as the mode of payment. This is the lowest transaction fee in the market for using credit cards to pay rent. There are no transaction fees for using any other payment mode than credit cards
  • Secure, transparent & instant payments: Paytm offers a highly secure, transparent & instant payment mode for your rent with the highest success rate of online payments among all the payment portals
  • Additional cashback & Offers: With every payment, you get a chance to win additional cashback and offers for your future transactions
  • Track Payment History: You can track your rent payments through the ‘Payment History’ section on the Paytm mobile application
  • Easy Dashboard: Manage recipients easily with an easy and interactive Rent Payment Dashboard on the Paytm mobile application

Conclusion

You may find yourself in a situation where you would want to pay your rent using a credit card. It may be due to a delayed salary, improving credit score or winning cashback to save on the rent. No matter the reason, you can simply log in to the Paytm mobile application and pay your rent using a credit card. More than that, you can also send the rent amount directly to your recipient’s bank account.

Making rent payments on Paytm through credit card will help you unlock many benefits-

  • Enjoy cashback offers from Paytm that allow you to save on every rent payment
  • Earn reward points, cashback or air miles from your card issuing bank
  • Enjoy an interest-free credit period of up to 45 days as per your billing cycle
  • Achieve your credit card milestones of fee waiver and bonus rewards
Posted by Frank Gogol

The pandemic and rising rent have been brutal on most people’s wallets. There might come a time when you don’t have any other choice but to borrow the rent money with your credit card. If you didn’t know, this is absolutely possible. But before you decide to do so, know the procedure, benefits, and consequences that can come of it.

Table of Contents

Can You Pay Your Rent With a Credit Card?

Paying the rent with a credit card depends on whether your landlord accepts credit cards as a payment mode. If they don’t, some workarounds will allow you to pay via credit card using third-party services, but you might have to pay extra fees. Some housing agencies allow tenants to pay rent via their Visa or MasterCard credit cards. But they could charge you a convenience fee of around 2.25%.

It can be confusing. You are using a credit card to pay your rent because you are financially struggling or don’t have the cash right now, so why are you being charged an extra fee? This is because every time you make a credit card transaction, the merchants levy a processing fee. They are securing their profits on the money you are borrowing by charging this convenience fee.

You might even be required to pay additional fees depending on your landlord. For example, if your monthly rent is $1,000, a convenience fee of 2.5% will add $25 extra to the payment you are making. In a year, these fees will amount to $300, which is about 33% of the rent you pay monthly.

If your landlord does not accept payments by credit card, you can use third-party online services like RentTrack, RadPad, or Plastiq. These third-party services will help you build a good credit history and stay on time with your payments. But they also charge a convenience fee to convert the credit card payment into a payment that the landlord accepts.

You can inquire with your landlord about acceptable payment methods. Even if you are not paying by cash, they could accept a check, automatic ACH, money order, Venmo, PayPal, Square, and other options.

How To Pay Your Rent with a Credit Card

If you are using a third-party service to pay your landlord with a credit card, make sure you understand the terms of services of that application. Some of them might require your landlord’s involvement.

Plastiq

This app does not need your landlord’s involvement to pay by credit card. It doesn’t even need your landlord to have an account with the app. Every time you use a credit card, they will charge a transaction fee of 2.85%, or 1% if you are using a debit card. You can schedule your payments or do them manually. Your landlord will receive the money electronically.

PlacePay

This app charges a 2.99% fee for a credit card transaction and a $1.95 flat fee for ACH payments. However, this requires your landlord to be involved and manually accept the payment to make the deposit. It also lets you schedule the payment or make it manually through your phone.

RentTrack

The website’s terms and conditions say that you don’t need your landlord’s approval to make payments. This service will send a paper check to your landlord. They charge a 2.95% transaction fee for credit cards and $6.95 for ACH payments. They also let renters improve their credit rating by issuing a credit card. They are registered with all three major credit bureaus: Expedient, Equifax, and TransUnion.

You should ask whether your landlord accepts payment methods via credit card and whether they report these payments to credit bureaus. Credit bureaus calculate your credit score, which could impact your possibility of buying any property, getting a loan, or credit down the line.

Lenders use this information to review your credit history and decide if you are trustworthy to borrow money from them.

Pros and Cons of Paying Your Rent With a Credit Card

Sometimes you might not have a choice but to pay with your credit card. But understand the implications of doing so.

  • Paying via credit card is extremely flexible. You don’t have to write physical checks.
  • If you have a good credit history and pay off your credit card debt in full every month, this is a good option.
  • You might earn rewards that could help recover some of the convenience fees.
  • The processing fee can be quite high. A 2.5% monthly fee willl become a substantial amount in a year and could prove to be a financial burden. It could also eliminate any rewards you are receiving via credit cards.
  • The credit utilization ratio could be off balance, which ultimately impacts your credit score. This ratio is to keep track of the credit you are borrowing. The ideal ratio is on the lower end, below 30%. Going above this percentage will really impact your credit scores.
  • If you were not responsible with your credit card payments, it could be maxed out. This means you will not be able to make any other essential transactions, and it could have a huge impact on your credit score.

Alternatives To Using Your Credit Card for Paying Rent

If using a credit card to pay the rent is not an ideal option for you, there are other choices available.

You can look for assistance if you are unemployed and cannot make rent payments. There are local government agencies, nonprofit groups, or charities that could provide help. You can also check with your landlord for assistance if you have an amicable relationship.

Utilize the following resources to reach out for help:

If it is feasible, you could look for roommates to share the burden. You could also move to a cheaper part of the city, helping you stay on top of your rent. Inquire if the landlord has a bonus policy if you can refer new tenants.

You could discuss with your landlord the option of helping with any labor in exchange for a reduction of rent.

Reaching out to family and friends in a time of need is also an option. In fact, if paying rent does not seem like an option, you could also consider moving in with them at least temporarily.

Recalculate your budget and figure out if you have the money to cover your share of the rent every month.

How to pay your rent with a credit card

Conclusion

Hopefully, this article provided you with enough insight into utilizing credit cards for rent payments. Sometimes, credit card rewards are just not worth the debt that you accrue in fees. If necessary, consider utilizing credit cards for a brief period, and make the full payment each month to keep on top of your credit score.

Many or all of the products here are from our partners. We may earn a commission from offers on this page. It’s how we make money. But our editorial integrity ensures our experts’ opinions aren’t influenced by compensation. Terms may apply to offers listed on this page.

If your finances have been hard hit and you don’t know where you’ll find the money to pay this month’s rent, it’s important you know this: It is possible to pay rent with a credit card. Before you do, though, make sure you understand how it works, how much it might cost, and what your alternatives are.

Can I pay my rent with a credit card?

There may be several reasons you’d like to pay rent with a credit card. Maybe times are tough and you don’t have the funds in the bank. Perhaps you’re just hoping to score loads of credit card rewards points.

The short answer to the question “can you pay rent with a credit card” is yes, but paying rent with a credit card is not ideal. For that reason, we’ll go into some alternatives below.

The process may not be as direct as handing over a credit card. Not all landlords accept credit cards. Even if your landlord is firmly in the “does not accept credit cards” camp, you can use a third-party payment service like Plastiq to pay by card.

Along with dozens of its competitors, Plastiq allows consumers to pay for things by credit card that cannot typically be charged, like rent. Plastiq charges, on average, a 2.85% transaction fee. If your rent payment is $1,000 per month, paying it through Plastiq would cost an additional $28.50.

What about a cash advance? It’s a terrible idea. The average cost to take out a cash advance is 5%. If your monthly rent payment is $1,000, the cash advance fee would be $50. In addition, the average interest rate on a cash advance is 23.68%. To add insult to injury, there is no grace period — you’d begin paying interest on that money immediately.

Be cautious when deciding whether or not to pay rent with a credit card. As the interest on your debt compounds, you’ll quickly move into dangerous financial territory. That’s why credit cards are not necessarily the best way to pay rent.

Landlords’ reluctance to accept credit cards

Americans have been asking for years, “Can you pay rent with a credit card.” And for years, the answer from most landlords has been, “Absolutely not.”

In all fairness, landlords who refuse credit card payments have legitimate concerns, including:

  • An angry tenant may pay rent, then dispute the transaction. If that tenant manages to convince their credit card company they didn’t approve the charge, the transaction can be reversed, and the landlord left with nothing.
  • Credit card payments are not automatically processed. In fact, it can take days for a landlord to receive payment.
  • Transaction fees eat into a landlord’s budget.

So the idea of paying rent by card limped along without ever gaining real traction. And then the pandemic hit.

As coronavirus made its way across the globe, businesses of all kinds had to adjust. By April, with millions of Americans out of work, some landlords started to see the light. Tenants who couldn’t make ends meet looked for alternative ways to cover their rent. And landlords, sweating the thought of months without payments, looked for ways to enable credit card transactions.

What happens if I pay my rent with a credit card?

Paying your rent with a credit card may get you out of a short-term jam, but as we saw above, it can be costly.

  • If you can’t pay off the balance every month, you’ll start accumulating expensive interest fees. Credit card debt can cost you hundreds in extra fees over the years and take a long time to pay off, especially if you’re only paying the minimum.
  • Landlords almost always pass credit card transaction fees on to their tenants. Even those who have swallowed the transaction fees during the pandemic will likely pass them back once the threat has eased. Transaction fees range from 2.5% to 2.9%. For example, if your rent is $1,000 a month and you are charged a transaction fee of 2.5%, that’s an extra $25 per month.
  • If you want to use a credit card to pay rent to rack up credit card rewards points, the transaction fees will almost always be as much or more than your rewards.

Of course, if you are facing eviction or considering more drastic measures such as a payday loan, paying by credit card might be your best option.

If you absolutely have to pay with a credit card, some of the best credit cards offer a no-interest introductory period (some offer no interest for as long as 18 months). This can save you hundreds in extra interest charges, as long as you’re able to pay off the balance before the no-interest period is over.

Better alternatives to paying rent by credit card

Millions of Americans are having trouble making rent payments right now. However, paying by credit card can put you into debt and cost you a pretty penny in interest charges. If you haven’t already, consider the following instead:

  • Look into rent assistance. If you’re currently out of work, dealing with reduced hours, or experiencing lower household income, you may qualify.
  • If your situation is due to coronavirus, reach out to one of the many organizations working to help Americans stay in their homes through the pandemic.
  • Be honest about your circumstances and ask your landlord if they will accept a partial payment. For many landlords, that’s preferable to dealing with an eviction.
  • If you find making bi-weekly payments more manageable, ask your landlord to allow you to break your monthly payment in two.
  • Call your utility company, cell phone provider, credit card company, and car lender to find out if they offer assistance to people who are struggling financially.
  • Get a roommate or rent out a room. If you’re planning on renting a room (instead of adding a roommate to your lease), make sure to check local government requirements before you jump in.
  • If you have a special skill (like sewing, finishing floors, or tiling backsplashes), find out if your landlord will allow you to make improvements to empty units in return for reduced rent.
  • Take on a side-hustle from home or try to sell things you no longer need.

There are many ways to make ends meet that won’t plunge you into high-interest debt. Paying rent with your credit card and racking up debt should be a last resort.

You don’t have to wait to start earning rewards, cash back, points, or miles on one of the biggest purchases you make each month. See how easy it is to pay rent with a credit card.

It’s 2019, and most renters are still paying their landlord in ways that aren’t convenient for anyone. Whether that’s writing a check, pulling out cash from the bank, or sending multiple transfers through Venmo, there are better ways to pay your rent.

Tellus is a real estate superapp looking to change the rental experience into something simpler for both landlords and renters. We let you pay your landlord through a convenient app on your phone so you don’t have to mail in checks or take trips to the bank. Best of all, paying rent from your bank account is completely free!

One of the great things about Tellus is you can also pay rent with your credit card. Get points, miles, cash back, or whatever rewards your credit card offers. Credit card payments come with a 3.4% surcharge, but it’s easy to switch payment methods whenever you want.

Say you’ve been saving for a trip, but haven’t made enough purchases to get the right number of airline miles. By choosing to pay rent with a credit card for just one month, you can reach the number of miles you need to take that vacation. Tellus makes it easy to switch back and forth between payment methods without limit so that you can pay in a way that is most convenient for you.

Setting up a credit card takes less than 30 seconds. All your finances in Tellus are managed in your Wallet, which can be found under the “More” tab. Once inside your Wallet, you can add a new card by using the scan feature, or you can enter your card details manually.

Paying from the dashboard can be done in an instant. For renters who don’t want to have to go into the app each month to pay, Tellus gives the option to set up AutoPay so that you’re always on time. No more stressing, no more forgetting, and no more late fees.

By using the Tellus superapp, you don’t have to wait to start using your card to earn rewards on one of the biggest transactions you make each month. Let us redefine your rental experience and make it easier to pay in ways that are convenient for you.

Want to get started? Ditch the checkbook and try using the Tellus superapp for rent payments.

Tellus makes it easy to pay rent with a credit card for rewards. Update: Due to increased costs, there is now a 3.4% surcharge for credit card payments. Personal Finance

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How to pay your rent with a credit card

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How to pay your rent with a credit card

Monthly rent expenses are most likely the biggest expenses you have to think about each month. Experts have traditionally recommended that you try to spend around 30% of your monthly income on rent, but Americans are now paying closer to 50% of their paychecks on rent as wages stagnate and the cost of living increases. If you’re finding yourself in this boat, it’s only natural that you may be looking for other options to keep your finances afloat and pay your landlord on time.

Can you pay rent with a credit card?

Many renters may wonder whether it’s a good idea to pay rent with a credit card. While rent payments are traditionally made through a bank transaction, check, or sometimes a debit card payment, some renters may rely on credit card payments if they don’t have the cash on hand to afford a lump sum rent payment at the beginning of each month.

Credit cards involve borrowing from a line of credit you have with the bank, and then paying back that money with interest. These kinds of payments can theoretically help you get out of a tough spot, but there are some factors to consider before you pay rent with a credit card.

Is a credit card payment an acceptable way to pay rent?

While you can pay rent with a credit card, doing so can be complicated and usually involves extra fees. The first step for figuring out whether this is possible for you is to speak with your landlord. Some landlords may form an understanding with their tenants to allow them to pay rent with a credit card—you just need to ask.

If your lender is strict with renters and doesn’t allow you to go this route, you may be able to find a third-party provider that can help you with your monthly bills. Apps like RentPayment or PlacePay will accept a credit card payment from you and send a check directly to your landlord.

If appealing to your landlord or using a third-party service doesn’t work, you may be able to move some money around within your credit account. You can take out a cash advance (with high interest rates) at an ATM, or consolidate some credit card debt to a different account, so you have enough money right away.

Beware of the fees

Paying rent with a credit card does have some pros and perks. You may be able to get some credit card rewards and bonuses—plus, some third-party services offer you protection and security to cover late fees if a payment doesn’t arrive on time.

However, there are some cons to paying rent with a credit card. The biggest issue is transaction fees. If you’re paying rent with a credit card, additional charges can be a dangerous game, as they usually range from 2% to 3% of your rent. This may not feel like much at first, but it adds up after a while. Plus, the more credit card debt you’re in, the higher your interest charges will be down the line. So, if you can get your monthly payment in cash without using your credit line, it will save you money on payment services and help you out down the line.

Look into more options

If paying rent with a credit card isn’t for you, there are plenty of other options. You can pay with a debit card that takes money directly out of your account, rather than relying on a line of credit. You can also write a check, pay with a wire transfer or money order, and in some cases, you can even pay in cash.