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credit card user
How can I pay my rent with a credit card? 7/9/2009 8:15PM Reply | Return to Index | Report Post
I have a cash back AmEx card that gives me cash back. For the first $6,500 I spend in a year, I get like 1% on "everyday purchases" (gas, groceries, drugstore purchases) and 0.5% on everything else. After $6,500 spent in a year it jumps to 5% and 1.25%.

So at this point I just put everything on my card and pay it off at the end of the month. I'm averaging about $1,000 per month on the card so far. If I keep this up I should get back over $200 at the end of the year. That's not a huge amount of money, but it's easy money. The only effort I put forth is paying via credit card instead of debit or cash.

What would be nice is if I could somehow make my rent payments using my card. That's another $1,000 per month.

Any ideas?
Dave Ramseys response
RE: How can I pay my rent with a credit card? 7/9/2009 8:21PM - in reply to credit card user Reply | Return to Index | Report Post
You are playing with fire when you use plastic. I know all about the rewards, points, cash back, etc. Those are all ploys. Don't think you're going to come out on top. It's risky because credit card companies are slick and the can change what they want when they want and you have to take it. Studies have proven that you also spend more when you use a credit card vs. cash or check.

Take my advice for what it's worth, but I would suggest not to use a credit card.
tycobb
RE: How can I pay my rent with a credit card? 7/9/2009 8:22PM - in reply to credit card user Reply | Return to Index | Report Post
You won't be able to because it costs the business a percentage of money to accept credit cards that is why apartments won't accept them. They lose more money than you make in bonus.
credit card user
RE: How can I pay my rent with a credit card? 7/9/2009 8:25PM - in reply to tycobb Reply | Return to Index | Report Post
While I do appreciate the word of caution, so far so good. I have more money in my checking account than I put on the card each month. I keep a pretty close eye on things. I'm not too worried.

What I'd like to be able to do is purchase a cashier's check using my AmEx card, then pay my rent with the cashier's check. But I don't think that works. I'm just looking for other ideas. Does paypal issue checks?
crossing guard
RE: How can I pay my rent with a credit card? 7/9/2009 8:45PM - in reply to credit card user Reply | Return to Index | Report Post
Just google pay rent with credit card. There is a place that does it, but they charge a big fee (ie $20) as they know people want the points as if u get a cashiers check from amex, you don't get the points.
dittos
RE: How can I pay my rent with a credit card? 7/9/2009 8:58PM - in reply to Dave Ramseys response Reply | Return to Index | Report Post
Ditto Dave Ramsey.
LessTypeMoreTrain
RE: How can I pay my rent with a credit card? 7/9/2009 9:31PM - in reply to dittos Reply | Return to Index | Report Post
Man, you no credit card people crack me up... Kinda glad you're still out there because if everyone used credit cards to the extent that I do then the rewards wouldn't be half as good!

Seriously though, as long as you treat a credit card as an electronic representation of existing assets that already exist in a bank account (i.e. you don't buy something you don't already have the money for) there is nothing to lose and everything to gain from using plastic.*

*Provided you're wise about it, this includes doing things like not giving out your credit card # in dumb places online, monitoring your accounts weekly and spending within your limit.

Building credit is important, ESPECIALLY for young people. Good on you, OP, for getting started. The closest way I could think to using your CC to pay rent would be to use it to buy VISA Giftcards with it (which are accepted in many places), and then find a way to turn those into cash...
Treadmillionaire
RE: How can I pay my rent with a credit card? 7/9/2009 9:49PM - in reply to LessTypeMoreTrain Reply | Return to Index | Report Post
If your credit balance exceeds 30% of available credit it will hurt your credit score.
Mr Mountain
RE: How can I pay my rent with a credit card? 7/9/2009 10:14PM - in reply to Treadmillionaire Reply | Return to Index | Report Post
I spend about 80k a year on my credit card so my "bonus" is pretty good at the end of the year.

To the Dave Ramsey guy, would you suggest I just carry around a couple thousand bucks in cash so I don't have to use a credit card?
Bush Leagues
RE: How can I pay my rent with a credit card? 7/9/2009 10:45PM - in reply to credit card user Reply | Return to Index | Report Post

credit card user wrote:

What would be nice is if I could somehow make my rent payments using my card. That's another $1,000 per month.

Any ideas?


I haven't had a AMEX for a while, but with my Chase Business Visa I get sent checks (a ploy...) every so often that can be written against my credit. I think you inccur a decent fee or something, so I never use them, but something like that is the only way I know of.
ripvanracer
RE: How can I pay my rent with a credit card? 7/9/2009 10:57PM - in reply to Bush Leagues Reply | Return to Index | Report Post

Bush Leagues wrote:



I haven't had a AMEX for a while, but with my Chase Business Visa I get sent checks (a ploy...) every so often that can be written against my credit. I think you inccur a decent fee or something, so I never use them, but something like that is the only way I know of.


Those checks used to have a max amount they would charge you. They now have no limit and most of the cards have raised their fees from 3% to 4 or 5%.

Chase used to charge me $75 to get 40k.(at 0%) They would now charge me $2,000. I would have to REALLY, REALLY need the money to do that.
everything but the food
RE: How can I pay my rent with a credit card? 7/10/2009 1:32AM - in reply to credit card user Reply | Return to Index | Report Post
See if you can get free AMEX money orders. I know I can get free AMEX travelers checks with my non-Rewards Gold card.
Alcoholic
RE: How can I pay my rent with a credit card? 7/10/2009 1:49AM - in reply to credit card user Reply | Return to Index | Report Post
Jared just get a better job you lazy ass.
ukathleticscoach
RE: How can I pay my rent with a credit card? 7/10/2009 3:36AM - in reply to Mr Mountain Reply | Return to Index | Report Post

Mr Mountain wrote:

I spend about 80k a year on my credit card so my "bonus" is pretty good at the end of the year.

To the Dave Ramsey guy, would you suggest I just carry around a couple thousand bucks in cash so I don't have to use a credit card?


You could use a debit card. If you are so rich you would not worry about a few dollars bonus.

Credit card is useful for buying certain things as it gives additional insurance eg holidays
Dave Ramseys response
RE: How can I pay my rent with a credit card? 7/10/2009 5:29AM - in reply to ukathleticscoach Reply | Return to Index | Report Post
Again it is just my opinion and my personal experience that credit cards are dangerous.

What happens when credit card companies start charging interest the moment you make a purchase? They can do that if they want. What happens if they start slapping on additional annual fees? They can do that too.

The facts are this: People in America use credit cards way too much. The majority use credit cards. They unemployment rate is 10% and those people are having trouble getting by, but they are still using credit cards. Delinquencies are rapidly rising. If credit card companies aren't getting their money they are the next big bubble to pop. I personally see them taking it out on the consumers who handle the cards better -- from what it sounds like that would be people like you.

So that is one strong reason, but the main one is spending. It doesn't hurt much to charge $100 towards clothes, dining out, etc if you see your cash back go up or your rewards go up. You sort of feel like you are beating the credit card companies. That's not true. Behind the scenes if you use your credit card the company who you bought the good or service from pays for that transaction, although small, they do pay money. So the credit card company is still making money off you. In the mean time you are likely over spending. Use a debit card or cash/check.

These are the opinions of one person. You don't have to do what I say, but I strongly feel you should.
Mr Arms
RE: How can I pay my rent with a credit card? 7/10/2009 9:14AM - in reply to LessTypeMoreTrain Reply | Return to Index | Report Post
Agree totally with this guy....the anti-credit card crowd is a little silly...

saying credit cards will get me into financial trouble is like saying having beer in my fridge will get me drunk...

Both take an active decision on my part. I can't blame what happens on the card or the beer.

AND credit cards are an excellent way to establish credit (for young people). If you set it up to automatically pay the balance every month, and run all your purchases through it, in 2-3 years you have excellent credit (assuming you don't mess something else up).

I do what I described above, and not only do I have good credit, I end up getting a couple hundred dollars "back" every year. I realize that I had to spend money to get it "back", but it's money I would have spent anyway.

To the OP, I feel you. I complained to my last apartment complex on multiple occasions about the no credit card practice, but at the same time, I understand where they are coming from. What is really sweet is if you can pay rent for yourself and roomates using you credit card. You get points for the entire rent, but get reimbursed by the roomies for 1/2 or 2/3 of the payment. In that case, credit cards are REALLY the way to do.
Runningart2003
RE: How can I pay my rent with a credit card? 7/10/2009 9:18AM - in reply to credit card user Reply | Return to Index | Report Post
Most credit cards have bill pay service online that allows you to enter payee info and they will send the check for you.
anti credit card
RE: How can I pay my rent with a credit card? 7/10/2009 9:22AM - in reply to credit card user Reply | Return to Index | Report Post
Just remember, a few of us warned you. Be careful.
Chilton
RE: How can I pay my rent with a credit card? 7/10/2009 9:49AM - in reply to anti credit card Reply | Return to Index | Report Post
I have started to use my credit card for almost every purchase that allows it. When using cash I would blow through a lot more. With the credit card I see all my purchases online and can budget myself much easier. Then I just pay the balance each month. Much easier then paying with that paper and metal money!

As far as the rent goes, I dont think there is a way to pay this with a credit card that is worth the hassle.
dollarStretcher
RE: How can I pay my rent with a credit card? 7/10/2009 12:53PM - in reply to credit card user Reply | Return to Index | Report Post
Should your landlord accept CC payments then his pricing structure would reflect the cost of offering the convenience (~3%).
Be glad the landlord does not accept CCs because you would be paying 3% more in rent while getting a few worthless points in return. Points which you are eventually going to blow on something entirely useless anyway.... because it's 'free'.
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