If you plan on paying the rent using 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 a considerable expense every month. You will find the huge rental fees to be really useful in terms of meeting the spending requirement to be eligible for rewards. You should make sure, though, that the charges entailed in paying the rent with a credit card do not outweigh the benefits of doing so.
Convenience
When you are not around or able to reach the leasing office on or before your rental due date, you can pay with your credit card online or by phone anytime and anywhere. This makes it more convenient and flexible than other forms of payment.
Security Guarantees
A number of third-party apps make sure that your payment will get to the property owner/manager on time, and they will handle late fees or any costs incurred as a result of payment problems. After all, you trust them with a place to live.
Financial Coverage
Even if you lack the money to pay rent this month, the property manager/owner will still want your rent and should be willing to wait. Therefore, except if you have a relative/friend who will be willing to temporarily pay your bills, this is the best possible option, particularly if you can pay during the grace period.
No Bounced Checks
When you pay rent in the form of check, and your landlord does not deposit or cash it immediately, you might end up using the funds in your bank account. The check might 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 do not, try to convince them by paying several months in advance or explain that they could avoid accepting late payments. The outcome is a win-win solution for both parties.
Alternatives
In case you do not own a credit card or you have one, but do not like to add a huge processing fee to your expensive bill, you can go for other payment options that can also do the job. Use any of the following methods:
- Pay in Cash
- Pay with Money Order
- Write a Check
- Use a Debit Card
- Do a Bank Wire Transfer