Credit Card: Very few people know that you can also pay house rent with your credit card! Yes, whether your landlord has a credit card or not, you can still pay rent with your credit card. This not only makes your expenses convenient but also gives you a chance to avail reward points and cashback. Let’s understand this cool method in detail and know its complete process and benefits.
Pay rent with a credit card
Paying rent with a credit card is extremely simple. You just have to follow a few easy steps:
Open the online service provider or UPI app
First of all, you have to open any online service provider (like Payzapp, NoBroker Pay) or your favorite UPI app (like PhonePe, Google Pay, Paytm). If you are using the UPI app for the first time, you have to log in.
Go to the rent payment section
On the homepage of the app or in the menu, you need to find the ‘Rent Payment’ or ‘Rent Pay’ section. This section is usually available under the ‘Bill Payment’ or ‘More’ options.
Select payment type
Here you will be given options like house or shop rent, maintenance, or property deposit. Select one of these as per your requirement.
Enter the rent amount and details
Now you have to enter the rent amount and the landlord’s name or property name. Some apps may also ask for the landlord’s bank account details or UPI ID.
Click Continue
After filling in all the details, click on the ‘Continue’ or ‘Proceed’ button.
Select credit card as payment method
In the next step, you will be asked to select the payment method. Select the ‘Credit Card’ option here. You will need to enter your credit card details (number, validity date, CVV).
OTP Verification and Payment
You will receive an OTP (one-time password) on the mobile number linked to your credit card. Verify the payment by entering the OTP.
Payment Successful
Following these steps, your rent payment will be successfully made through a credit card. You will also receive a confirmation message.
Advantages of paying rent through credit card and things to keep in mind
Paying rent through a credit card is not only convenient, but it also has many financial advantages:
Many credit cards offer attractive reward points or cashback on rent payments. This can be a great way to increase your savings.
If you are facing a cash crunch at the end of the month, a credit card can help you pay the rent on time, thereby avoiding late fees.
Paying credit card bills on time and regularly improves your credit score, thereby increasing your eligibility for loans or other financial products in the future.
Credit cards give you an interest-free period of about 30-45 days for payment, giving you an opportunity to manage your cash flow better.