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Last night, I signed the lease for my new apartment. While doing so, I asked about payment options. At various times throughout the last few years, I’ve been either required to pay my rent via check, at times I’ve been able to pay by credit card, and now I pay by direct debit of a savings account.
With my rent increasing significantly, I was hoping to be given the option of paying by credit card. There are two simple reasons that I would prefer this. First, I get the benefit of paying about 25 days later, as the day they charge me for rent is right before the end of my statement cycle. By the time I am charged, I have money to pay, but this way I earn some interest. Second, the card I use provides me with cash back for every transaction.
Unfortunately, my new landlord won’t offer me the opportunity to pay my rent by credit card. In fact, I will have to send a check in the mail to an off-site location. Now I have to be concerned about checks being lost in the mail and getting charged late fees. As a result, I’ll be paying my rent earlier than I’ve been used to.
This puts a kink in my “cash optimization strategy.”








