Since July 2003, I have been paying my rent with my credit card. I do this because it allows me to “float” for about 20 days and, more importantly, because I get a one percent discount on all credit card purchases. As of next month, they are discontinuing the allowance of credit card payments. I don’t believe they take personal checks either.
This is a big, national corporation, not some dude who rents out his apartments. I don’t understand why they are trying to make things more difficult for their tenants.
I can understand not taking checks. Perhaps they are hit with too many bounces. But with a credit card, they get the money right away. It becomes the credit card company’s responsibility to track down payments and make money off interest rates and late fees from those people who carry balances month to month and pay bills late.
I want convenience. I want to pay rent via credit card online. It’s not too much to ask.
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I’m guessing they are discontinueing the credit card payments because of the 3-5% hit they take in cc company fees.
Wait…if they don’t take personal checks, how are you expected to pay? Do they expect all of their tennents to get money orders every month? That seems ridiculous. If they’re not going to take checks, it seems like they should have to take credit cards…
It turns out they do take personal checks. I’d still rather get my credit card discount. On the other hand, see the next post.
Single best way to increase net worth – buy a house. I increased about 40,000 in the last 18 months. If thats all it increases, that would be fine with me, but I expect there will be small valuation increases each year for quite a while.
Well, I’m not buying a house until I know where I’m going to settle down for more than just the next twelve months. So I’m trading the possibility of “quickly” increasing net worth for (a) flexibility and (b) not going into $100,000 or more debt.
Buy a duplex. You will be able to start building equity and if you decide to move, you can rent out the side in which you were living.