- Centurion Member
- Posts: 725
- Joined: Mon Oct 01, 2012 11:09 pm
- Location: NJ
So paying rent with a credit card is becoming a more popular option. It is faster and more secure than dropping a check in a mailbox, and requires significantly less manpower. It lets the renter pick a different date to pay, and can net some nice rewards. But a lot of times the processing fee is passed on to the renter, thus negating most cash back/points.
So first question is; how do you feel about paying rent with a credit card? Any serious objections, or would you do it if you could? What sort of rewards would you have to see in order to convince you to pay with a card?
Our new place has a flat fee of $25 per CC transaction. The benefit is that we can pay a lot of our "other" fees with rent as one payment. Total charge for a month is going to be about $1840. With my DC that would net ~$37 per month, minus the $25 fee sets me $12/month ahead of the game. Not much in a single month, but over the 14 months on our lease, that turns into $168 extra. I feel like that is just on the edge of being worth it. If that $25 was a one time charge for setting up automatic payments, I would be all over it. But a big part of me doesn't want to give them an extra $300 a year just so I can have $168.
Chase Freedom $9k~~Chase Sapphire Preferred $6.5k~~Amex Blue Cash Preferred $12.4k~~Citi Double Cash $4.7k