If you plan to pay the rent with your credit card, consider the benefits:
rewards
When you use your card to pay your rent, you can increase your ability to earn more with significant spending each month. You’ll find the huge rental fees really helpful in terms of meeting the spending requirement to be eligible for rewards. However, you should make sure that the charges involved in paying your rent with a credit card do not outweigh the benefits of doing so.
convenience
When you’re not around or unable to reach the leasing office on or before your rent is due, you can pay with your credit card online or by phone anytime, anywhere. This makes it more convenient and flexible than other forms of payment.
Security guarantees
Various third-party apps make sure your payment reaches the property owner/manager on time, and will take care of late fees or any costs incurred as a result of payment issues. After all, you trust them with a place to live.
Financial Coverage
Even if you don’t have money to pay rent this month, the property manager/landlord will still want your rent and should be willing to wait. So, unless you have a family member/friend who is willing to temporarily pay your bills, this is the best possible option, especially if you can pay during the grace period.
No bounced checks
When you pay rent by check and your landlord doesn’t deposit or cash it right away, you may end up using funds from your bank account. The check could bounce and cause an overdraft fee. This can be avoided by paying with your credit card.
Ways to pay rent
Find out if your landlord/property manager will accept credit card payments. If they don’t, try to convince them by paying several months in advance or explain that they could avoid accepting late payments. The result is a win-win solution for both parties.
Alternatives
In case you don’t have a credit card or have one but don’t like to add a huge processing fee to your expensive bill, you can opt for other payment options that can get the job done as well. Use any of the following methods:
- Cash payment
- Pay with Money Order
- write a check
- Use a debit card
- Make a bank transfer
