If you’ve ever wanted to pay rent with a credit card, you’re not alone! Credit cards are the new emerging payment method for all kinds of bills including rent payments!
1) Build your credit
The biggest benefit of paying rent with a credit card is being able to build your credit with an expense you are expecting and have budgeted for. After you have made the payment, you can pay off the balance, thus boosting your credit! Having good credit can benefit you when it comes to applying for loans or renting new properties. Landlords are more willing to rent to someone with good credit.
2) Rewards!
In addition, most credit cards offer amazing benefits. There are credit cards that offer miles or other rewards when you spend a certain amount. Cash back cards are also a good choice, especially since rent is usually a good chunk of money. Imagine being able to fly to Hawaii because you paid your rent, talk about benefits!
3) Great online Services
Plus, when you are paying rent online with services like PayRent.com, you are able to get your rent to you landlord quickly, as the transaction times are much faster. You’ll also leave a paper trail of the payment for both your reference and the landlord’s.
4) Avoid Late Fees
A major perk to paying your rent with a credit card is that you won’t be hit with expensive late fees. While most card transactions will have fees associated with them, it’s typically between 2-4%, significanlty cheaper than a 10% late charge or a bounced check and overdraft charges from your bank.
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- Control when and how renters pay you
- Automatically remind tenants when rent is due
- Accept bank transfers and credit cards
Dave is a seasoned real estate investor with over 12 years of experience in the industry. Specializing in single-family residential real estate, David’s strategic approach combines market analysis, financial acumen, and a deep understanding of urban development trends to maximize investment returns.
