As the calendar flips to a new month, rent is due, but your bank balance is still waiting for your salary. Maybe payday is still a few days away, or this month’s budget feels incredibly tight. In such situations, you may wonder what to do next. While the idea of delaying your rent might cross your mind, it certainly is not the last resort.
Now, you can pay your rent directly to your landlord’s bank account using a credit card. Various platforms offer a ‘pay rent with credit card’ feature for convenient and flexible payments. Before you pick up the phone to request a payment delay, explore this option further and make an informed decision.
Paying rent via credit card means using your credit card instead of cash or bank transfer to cover your rent. You can usually do this through apps or websites that transfer money directly to your landlord’s bank account. This way, you can earn rewards or cashbacks, keep track of your payments, and even improve your credit score as long as you pay on time.
Follow these steps to start using a credit card for rent payments:
Multiple platforms let users make credit card payments for rent. You can choose any reputable platform that offers this service and acts as an intermediary between you and your landlord.
Next, you will find an option for 'credit card rent payments' within the selected app. You need to enter your landlord’s name, bank account details, rent amount, and PAN details before paying.
After adding the details, you must enter your credit card details or verify if you have already added them. You can now make the payment and transfer funds directly to your landlord’s account. However, check for any transaction fees before making the payment. Third-party platforms charge a transaction fee of 1.5% to 3% of the rent.
Here are 5 platforms through which you can easily pay rent through credit card. These include:
As of 2024, the Reserve Bank of India's concerns have prompted many credit card issuers to remove rent payments from their rewards programs. The issue is that people use rental payment platforms to send money to friends/family without a real rental agreement. However, you can still pay rent with a credit card, but make sure to follow the rules to avoid penalties.
That said, it’s essential to approach the option ‘pay rent through credit card’ only after understanding the processing fees, your spending habits, and your repayment ability. While it offers convenience, flexibility, and potential benefits, be careful not to overspend or get stuck in long-term debt cycles. When used responsibly, rent delays are not always the last resort.
Also Read: Simple Ways to Pay Off Your Credit Card Debt Faster
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