Rent day – it’s everyone’s least favorite time of the month. It’s the day where your bank account or wallet takes a severe hit. Rent and housing costs make up about 34.62 percent of the average American’s total income, and 59 percent of adults live paycheck to paycheck. While rental fees are unavoidable, there is some good news. You can use a rent credit card to pay your rent AND get rewards like cashback and signup bonuses.
Using a credit card to pay your rent is not only easier than you might think, but it can help you save money through various rewards. That means more money back in your pocket for other household expenses or to bulk up an emergency fund. Learn how you can start reaping the benefits of using a credit card for rent below.
Paying rent with a credit card can be incredibly rewarding. Depending on the rent credit card you use, you may receive rewards like:
- Cashback as a general purchase
- Travel rewards
- Card intro bonuses
Depending on your landlord, paying rent using a credit card can be simple. Some lenders and landlords provide you the option of paying with a card online automatically. For those that don’t, you can use many third-party services to pay your rent. While each of these services is different, we’ll help you learn about and choose the best service for you.
Next, we’ll help you select the best credit card for rent based on your interests and situation.
The type of card you choose will determine the rewards that you receive for paying your rent and any fees and interest charges that you may incur with its use. We’ll help you weigh the pros and cons of each type of card so that you can make an informed decision.
Finally, while paying rent with a credit card for points definitely has its advantages and benefits, it’s not for everyone in every situation. In some cases, you could end up spending more on fees and interest in the long run compared to the rewards that you receive.
In these cases, you should only use a rent credit card if you need to – as it’s still a better option than risking an eviction.
Learn tips to determine whether you should pay rent with a credit card and factors that you should look out for when choosing a third-party service to do so.
By Admin –