GigglyBanana

Paying Rent through Credit card

Hey, how many of you pay rent through credit card? Which platform you all use ? What is the benefit you get from platform? Like points or coupon.

21mo ago

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ZestyMuffin

OPEN Financial21mo

Paying your rent with a credit is probably the top 10 worst financial decisions you can make.

GoofyDonut

Stealth21mo

Right? This is peak zoomer

CosmicPanda

Stealth21mo

Can you explain how. I’m curious as I don’t know why but I’ve heard it’s something you should never do.

SquishyBoba

Stealth21mo

Register on RedGiraffe, then link it to Payzapp and then pay using CC thru Payzapp. You would earn points as well thru this method.

FuzzyCoconut

Stealth21mo

+1; I do it this way.

GigglyBanana

Stealth21mo

How much points you get? Does that more than your charges for paying rent on cc

PerkyMarshmallow

Razorpay21mo

Used to be fun. Still is but less fun. Because a few things added up. E.g with my rent which is 37k

cred charges 600 bucks on it
Axis charges 370 on it
But I get 2400 points on it.

The miles conversion is great on 2400 hence that additional 1k i end up spending works out. May not for everyone. Sala even cheq is charging 99 per transaction now.

GigglyBanana

Stealth21mo

Quick question: 2400 points what kind of value you get? E.g. is 2400 is equal to ₹2400 coupon, or you need to accumulate these points to a certain threshold and then redeem? How it works

Another point, ₹1k you pay extra does the 2400 points help you redeem more than ₹1k

This is really interesting! As roti, kapda, makaan is basic needs. Credit card already took over roti & kapda now quietly venturing into makaan!

PerkyMarshmallow

Razorpay21mo

About 1700-1800 miles is 2400 points converted. For e.g a return economy ticket BLR-Sydney is 85k points.

GoofyDonut

Stealth21mo

Huh, what new trend is this? Folks don't use IMPS anymore?

BubblyDonut

Dream 1121mo

We value reward points/cashback benefits a little more

GoofyDonut

Stealth21mo

What rewards do you get out of it

ZestyQuokka

Stealth21mo

Hasn't RBI passed a regulation against this?

BouncyBiscuit

Stealth21mo

Most cards have stopped giving points on rent. Double and triple check before paying extra to platforms like paytm, nobrokerhood or cred for rent payment. If you multiple the percentage by 12 months, thats a huge personal loan interest you are paying annually just for points(which you probably stopped getting from the card issuer since the past couple of months).