Thanks goes to Her (from Make Love, Not Debt) for reminding me about this. When I went to sign my lease renewal earlier this month (grumble), I noted that my rent would be increasing from $858 to $901. I didn’t bother fighting the increase this time around since I’ve already done that several times.
I mentioned that in 2004, my apartment complex disallowed the use of credit cards for paying rent, but when I renewed, the option for automatically charging rent was once again offered. I jumped at the chance as I can use my CitiBank Platinum Dividend Rewards card, which will earn me some cash back. The card is limited to a $300 maximum reward per calendar year, so I may look into getting a separate cash back rewards card.
Regular readers know this. For those who may be new, know that while I make extensive use of my credit card throughout the month, it is only to gain cash back when possible. I pay off the entire balance before it is due.
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Is there anyway to pay rent by credit card to a non-complex-type land lord? Say you’re subletting or something?
Maybe through paypal or something?
I wish that I could pay my mortgage with a credit card without having to pay an extra $35. The only thing that really pushes my rewards along is school. I defer my payments until the classes are over, then I keep my reibursement in the bank and pay the balance with a rewards card… It works out okay.
Credit cards can be useful tool to pick up some free gifts, cash back (not available in Hong Kong alas), air points, discounts or whatever. One trick I have picked up is to put all my employment related expenses on my personal credit card so I get the extra points. If I use the credit card my employer provides, I would not get the benefit of the points. (My employer is fine with this.)
I have not been able to get either the mortgage payments or airfares payable on my credit card.
As a landlord, I would not accept payment of rent by credit card as (i) it costs me money and (ii) it takes extra effort on my part to arrange – I understand that dealing with Visa etc can be a real pain.
There is a way to sneak and pay your rent with a credit card and get cash back without really using “plastic”. Use a cashback card that has no-fee, personalized convenience checks that use the purchase APR. Even if you pay it off in full at the end of month, you’ll still have a minimum finance charge of $0.50 to $1 tacked on, but for an extra $50-$150 bucks coming back that’s small change.
Just be sure it’s a **no-fee** convenience check and it uses the **purchase APR**, because some checks come with fees attached and some are taken out as cash advances (which tend to have a higher interest rate).
Have you thought about getting a Discover Card? No annual fees and the cash back can be doubled at certain stores.