How to Pay Rent with a Credit Card
March 29th, 2006Imagine not having to write a rent check every month, not dealing with the hassle of late fees if you forget to drop off your check (which has probably been sitting on your kitchen counter since the first of the month, just waiting for you to deliver it to your landlord) in time, and never having to worry about bouncing a rent check. How can all of this be possible? The magic of the credit card.
Yes, in today’s cash- and check-averse society, you can pay for anything with a credit card, even your living space. Paying rent by credit card is becoming more and more popular for a variety of reasons. If your landlord or apartment complex is already willing to receive credit card payments for rent, you’re all set—just talk to your landlord about the process for accepting credit card payments, and charge away. You can set it up so that your card is charged each month for the amount of your rent, or you can charge your rent only occasionally, perhaps during the holiday season when you’re temporarily short on funds.
Landlords like credit card payments for the same reasons tenants do: ease of use, and guaranteed payments. Landlords don’t have to mess with collecting as many checks or paying check processing fees, and they don’t have to assess as many late fees if your credit card is charged automatically. The deal can be sweet for you, too—you can earnreward points for using your credit card for such a big purchase, and you can also avoid the hassle of forgetting about rent or having to pay the dreaded late fees.
Of course, paying rent with your credit card is not simply an idyllic wonderland of living free and easy. You’re still going to get that credit card bill eventually, and you’re still going to have to make payments on it with real money. The interest and late fees on your credit card bill are likely to be more costly than the late fee your apartment complex assesses. Moreover, failing to pay your credit card bill affects your credit card rating even more directly than failing to pay rent, and charging your rent can keep you in a place you can’t afford much longer than you can really afford to be there.
Stay smart and don’t use your ability to make credit card rent payments as an excuse to live somewhere out of your means. If you’re already having trouble scraping up the money for rent, paying by credit card isn’t the appropriate way to fix the situation. Consider finding cheaper lodgings or a second job, or take on a roommate to help with rent (if your landlord will allow it). You might also look into receiving unemployment benefits or housing assistance.
If your apartment complex doesn’t currently offer the opportunity to pay rent by credit card, see if you can get a group of tenants together to request the service. It’s likely that your landlord will respond to a collective request more positively than to an individual request. Most landlords seem to find that a significant portion of tenants take advantage of the chance to pay by credit card, and that the ability to pay rent by credit card can make a difference for prospective tenants when they’re choosing where they want to live. Online sites like PropertySolutions, RentPayment, and others offer landlords the opportunity to accept credit card payments from tenants. Encourage your landlord to look into this option, as paying rent by credit card will surely become more popular in the future.
In addition to paying rent by credit card, you might also be able to pay rent using a debit card linked to your checking account. This eliminates the hassle of paying rent each month.
Work with your credit card company and landlord to know the ease that is paying rent with plastic, but beware of falling further into debt if you’re already behind on credit card payments. Keep in mind that rent costs real money, not just credit card promises, and you’ll have to pay up eventually no matter what. Paying rent by credit card may not be for everyone, but it could be for you—if you have the level head and good credit history.
March 30th, 2006 at 8:47 pm
This is good advice.
June 15th, 2006 at 2:34 pm
you can get a loan online to get help with rent and the intrest rate is lower. I found a good site to help. http://www.payday-loan-online-cash.com/help-with-rent.html
October 23rd, 2006 at 8:54 pm
Here’s a better Idea. Pay for all of your expenses including the rent with your credit card. leave all of your money in the bank and pay the card in full. Be a freeloader and pay no interest at all.
October 30th, 2006 at 4:33 pm
Payday loans are theft - PAYDAY LOANS ROB YOU. You pay them up to ***HUNDREDS*** of times more for the money that you “borrowed”.
THERE ARE NO LAWS THAT WILL PROTECT YOU!
It’s a TRUE CASE of “If it looks too good to be true, it probably IS!”
Don’t fall for the PAYDAY loan scam - do something, anything else - but don’t fall for giving someone your NEXT paycheck as well as many others if you happen NOT to be able to pay it back “on time”.
June 4th, 2007 at 9:03 am
I can’t wait to try this out…next you know you’ll be able to pay rent with your paypal account like you can purchase a pixel here, pixelspotlight.com
July 19th, 2007 at 7:13 pm
Hi!
nice to meet you!
December 28th, 2007 at 8:28 pm
What if you are renting a house from someone and your house is their sole rental and they do not currently take credit cards? Any way to make use of the card without paying cash advance fees etc?
December 31st, 2007 at 10:56 am
Check out http://www.ramsrent.com
January 23rd, 2008 at 10:55 am
“Here’s a better Idea. Pay for all of your expenses including the rent with your credit card. leave all of your money in the bank and pay the card in full. Be a freeloader and pay no interest at all.”
I agree… do it with a frequent flyer credit card or reward based program and get cool trips or merchandise!
March 25th, 2008 at 3:26 pm
You can pay your rent with a credit card using BillCharger.com
April 22nd, 2008 at 8:54 pm
Yeah… ramsrent.com looks pretty good!
May 2nd, 2008 at 1:02 am
I’ve just launched a new site - PaymentGenius.com that lets you pay rent with your card - no matter what. We process your payment and send the owner/property manager a check in your name. There is a service fee based upon the amount of your payment, usually between 2.5% and 3.5%. If the owner of your rental home/apartment is not listed in their system you can add them and and make a payment immediately. You can also schedule automatic payments each month. Check it out and I would love to know what you think of the service.
May 3rd, 2008 at 11:23 am
Check out paymentgenius.com as it is less expensive than bill charger.
June 9th, 2008 at 5:37 pm
What are ramsrent’s transaction fees?
June 10th, 2008 at 4:23 pm
They are all expensive.
June 13th, 2008 at 12:34 pm
Pay your rent with Credit Card or electronic check online like I do every month!!! Very convenient and no more late fees!!!!
I use PayLease.com, the most affordable solution, easy and secure!
June 13th, 2008 at 12:35 pm
I use PayLease (paylease.com), It’s the most affordable one!
August 1st, 2008 at 2:21 pm
Ramsrent isn’t expensive at all
September 22nd, 2008 at 6:00 pm
I’ve used PayLease at my old apartment complex. They did a good job, easy to use.
December 29th, 2008 at 10:47 pm
I use Paylease and it is very user friendly and you can call and make payments. Great customer support and very cheap! Highly recommend
February 17th, 2009 at 5:44 am
You made some good points there. I did a search on the topic and found most people will agree with your blog.
March 5th, 2009 at 9:21 am
As a Newbie, I am always searching online for articles that can help me. Thank you
April 30th, 2009 at 11:37 pm
If your apartment complex already takes credit cards, why not put the rent on a cash-back reward card? Assuming your a responsible and pay your card In-Full every month, it will just give you more cash back in your pocket.
EX: My rent is $1,400 a month. My Pentagon Federal Reward Visa gives me 1.25% cash-back on all “other” purchases. That’s $17.50 a month off my rent, $210 a year.
Not to bad just for putting a roof over my head…