Pay Rent with Credit Card

Clearing your house rent with a Credit Card is not just a hassle-free process but can also get you numerous benefits. Read on to learn more in detail!
 

House rent forms the largest chunk of your monthly expenses and also the most significant. While there are several ways to pay your rent to your landlord, online modes are the most convenient ones. You can pay your rent online directly into your house owners’ account. In case of a cash crunch, you can also use your credit card for rent payments. It is not only convenient but also offers several benefits. In the article below, we will explore the benefits of paying rent with credit cards and how to do it.

How to pay the rent using Credit Cards?
 

Credit cards are a convenient way of paying your monthly house rent on time without defaulting as they offer instant access to funds. There are several online applications and web platforms that help you pay the rent using a credit card. All you need is to register your personal and credit card details on the service-providing portal along with your landlord’s bank details.

Once the details are verified, you can pay your rent with a credit card without any hassles. Most apps and portals also offer setting up a standing instruction to automatically debit the amount from your credit card on the set date. IDFC FIRST Bank credit cards offer up to 10X rewards on every card expense, and you can also earn up to 3X rewards for house rent payments. You simply need to register your IDFC FIRST Bank card on the rent-paying online platform and you are good to go.

A nominal fee is usually charged by the service provider and the card issuer on paying rent through credit cards. However, you can earn attractive rewards and offers if you pay your rent via cards. The charges may vary depending on the issuer and service provider.

Steps for paying rent via Credit Card
 

Here are the quick and easy steps to pay rent via your credit card.

1. Visit an online rent payment service provider.
2. Register on the portal with your personal details and create an account.
3. Provide the bank account details of your landlord including the rent details.
4. Once the details are registered, you can pay the rent with your credit card anytime, anywhere.
5. After a successful transaction, your landlord receives the amount directly into his/her bank account.

Benefits of paying rent via Credit Card
 

Although there are a few nominal charges you need to pay while paying your rent with a credit card, it includes several benefits too. Here are the benefits of paying rent through a credit card.

Earn rewards
 

Every card issuer offers loyalty points on credit card expenses. When you pay your rent using a card, you can enjoy rewards and offers according to the issuers’ terms and conditions. You can redeem those rewards anytime to get additional discounts.

Pay rent on time
 

Facing a cash crunch can be quite stressful. However, with a credit card rent payment, you can ensure timely payment of your house rent without any defaults and enjoy peace of mind.

Build your credit score
 

With regular rent payments and timely credit card bill payments, you can enhance your credit score. However, it is advisable to not make use of over 30% of your credit limit as it can adversely affect your CIBIL score.

To summarise: Using Credit Cards is  an effective way of paying monthly house rent. Along with a timely payment, you can also receive several benefits such as cashback and reward points that you can use for exclusive offers and rewards.

Disclaimer

The contents of this article/infographic/picture/video are meant solely for information purposes. The contents are generic in nature and for informational purposes only. It is not a substitute for specific advice in your own circumstances. The information is subject to updation, completion, revision, verification and amendment and the same may change materially. The information is not intended for distribution or use by any person in any jurisdiction where such distribution or use would be contrary to law or regulation or would subject IDFC FIRST Bank or its affiliates to any licensing or registration requirements. IDFC FIRST Bank shall not be responsible for any direct/indirect loss or liability incurred by the reader for taking any financial decisions based on the contents and information mentioned. Please consult your financial advisor before making any financial decision.