Pay Mortgage/Rent with Credit Card

[Joe Massaro]

Anyone pay their rent/mortgage with a credit card to rack up points? 

I don't think there's a straight through method.... But I'm sure we could hack our way there!

Thanks

Joe Massaro

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__________________
Joseph V. Massaro
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Mass...@Gmail.com

[alank19]

No, but that's a great idea. My building management company still requires a check in the mail but I'd love to pay by CC and collect the points.

[Aaron Brown]

One of the ways to do this is ask your credit card for a routing and account number. They actually have the ability to issue paper checks if you want them. You than use that to change your payment info. 

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[Ricardo Ortiz]

Hi Joe,

Check onradpad.com, I never used it but, it looks a good option to pay the rent with a credit card.

Best,

Ricardo Ortiz

Linkedin / Twitter

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[Will]

Here's one:  https://www.onradpad.com/

There are lots of others

On Mon, Dec 1, 2014 at 11:57 AM, Joe Massaro <mass...@gmail.com> wrote:

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[Sam Gavis-Hughson]

Initially I have two thoughts. 

First of all, if you rent through Airbnb then obviously you pay with a credit card. This isn't so applicable to a current living situation and is somewhat less flexible, but it does work. I rented a place on Airbnb for 3 months this summer up in Boston.

My second thought is that I doubt there would be any way to do this in an economically efficient way because the credit card points, at least to some degree, come out of the fees that credit card companies charge for businesses (or in this case landlords) to accept credit cards. The point being that to use your credit card to pay rent, your landlord would have to pay a 2-3% fee to the credit card company, which they would most likely roll into your monthly rent. So in the end you're paying 2-3% more in rent to get 1-2% back in points on your card. Its possible you could find a way to do this temporarily, but economically speaking, it would be inefficient and the gains wouldn't last long because someone would figure out they were losing money.

I'd definitely be interested to hear other peoples' opinions.

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[Eric Friedman]

Just found out my management co. will accept CC transactions, but add 2.5% to the transaction.  I have heard of a few buildings that eat the fee, but the rental cost is just higher.

I think transaction fees really get in the way of this working, but I too would love to find a way to make this work.

On Mon, Dec 1, 2014 at 11:57 AM, Joe Massaro <mass...@gmail.com> wrote:

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www.ericgfriedman.com

[Katie Corcoran]

I was thinking the same thing recently. My only solution -- for now -- for this would be if your super/rent company will accept Venmo, PayPal or GoogleWallet. All have options to pay with a credit card. Unfortunately, I don't think my super is that savvy, but worth a shot to ask! 

This is another great hack! 

Katie

On Mon, Dec 1, 2014 at 11:57 AM, Joe Massaro <mass...@gmail.com> wrote:

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Katie Corcoran
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[Loni Bordoloi Pazich]

I used to rent an apartment managed by Related and was able to pay via CC (and collect the points). They didn't add a separate transaction fee; it could have been rolled into the rent, though I was paying the market rate. So this arrangement might work based on your management company, and might be something worth negotiating.

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Loni Bordoloi Pazich

[Jovena Whatmoor]

If you do that, I think it's counted as a  cash advance. And, cash advances are not typically subject to rewards. You can check your terms to find out. I guess convenience checks could be a good hack to postpone your cash flow needs for rent. Especially if you have a credit card that allows you to select the payment date (my Chase Saphire card let's me control that).

I actually had a landlord for my business space that put my credit card through for automatic rent payment. No fee. 

And, my landlord for my apartment uses a rent accounting service that accepts credit cards. But, for that service I have to pay a fee that offsets the miles benefit.

sent from my phone

[Anoop Kansupada]

I use venmo to send money to myself when I am trying to make minimum credit card spends.  For example on a 2k minimum spend at 3% I am paying 60 dollars for 50,000 southwest points.  That comes out to .03 cents a mile--- which is pretty good in my book.

In terms of paying rent directly through credit--- it's hard.  You can go the route of vanilla reload cards to bluebird--- but you have to 1) fine stores that let you buy vanilla reload cards with credit cards and 2) buy enough to pay NYC rent. 

Amazon Payments used to be a great way to send money to yourself in different accounts but that is no longer allowed.  

If you really don't care about the fee--- what you could do is set up a square or amazon payments center--- charge yourself your rent (paying the 2.5% - 3.5% percent) and then set up bill pay through that.  

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Anoop Kansupada

Dapprly

Lifehack.io

[Jovena Whatmoor]

I'm pretty sure that anytime you use your credit card to pay yourself, even if through Square or another 3rd party, it's a violation of your terms and conditions.

sent from my phone

[Anoop Kansupada]

While in most situations it would be construed as a cash advance but because you've registered the reader as a business its classified as a business service.

I have yet to have any problems with doing it this way

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