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Paying your rent with a credit card every month is a convenient option that has several advantages. When you pay rent with credit card, you skip the trouble of paying by check or cash.
Use a credit card that features rewards and you can earn points or cash back every time you pay rent with credit card. Paying with a card also helps cash flow. If payday hasn’t arrived and you don’t have enough cash for rent, you can still make your rent payment on time.
There are two main ways to pay rent with credit card. You can either use your landlord’s payment system, if there is one, or pay through a third-party company.
Paying through your landlord’s payment system usually requires that the rental property is owned by a large company. If the building is owned by a small business or single owner, chances are the company won’t have a payment system and will instead require that you pay with a check or cash.
Cover rent via a third-party bill payment service, and you can pay rent online with credit card. For instance, Plastiq allows any tenant to make rental payments to any landlord. Your landlord doesn’t even need a Plastiq account for the payment to process. Plastiq will deliver an electronic payment to your landlord or cut a check.
Before you pay rent with credit card, consider the following.
If you’re strategic about it, paying rent with credit card can be an ideal choice for earning rewards and keeping your finances on track. Knowing that your rent payment is automatically taken care of every month also gives you peace of mind.