It feels like everyone is planning or heading off on holiday at the moment, which means travel-hacking in Australia is having a real moment. Reward points can open up a world of potential benefits - everything from a free flight to cashback, and earning them is simpler than you think.
For most people, your rent is a significant recurring expense and an easy way to make a minimum spend on a credit card to unlock juicy sign-up bonuses and cashback offers.
While bank transfers and BPAY are standard payment methods, paying your rent with a credit card on RentPay can work wonders if you’re on the points train.
Let’s explore how you can pay your rent with a credit card on RentPay to rack up points – and whether it makes sense for you.
These days, you can pay for almost anything with a credit card: your power bill, groceries, airfares, and even that pair of sunnies you've had your eye on for the past month. However, selected companies like RentPay allow you to pay your rent via credit card.
RentPay lets you set up both recurring and one off direct debit payments through your credit card or bank account while paying your agent or landlord by their requested method.
Plus, with RentPay there are no cash advance fees and the credit card surcharge is only 0.99% for Mastercard and Visa, the lowest rate out there for any rental payment service. American Express cardholders can use the PayPal payment method which has a transaction fee of 1.55%.
RentPay also comes with a host of other features, letting you bill smooth your energy bills, build your credit score with regular rent payments, access an emergency line of credit and even build a savings buffer.
Before you get started, decide whether paying rent by credit card is a good option for you. If you’re debt-free and money-savvy, there are good reasons it might work.
Most renters who pay their rent using a credit card do it for one of two reasons:
Important note: All credit card issuers operate with different rules and conditions, which means they may have specific criteria or limits for issuing points based on certain transactions. If you're looking to pay rent via credit card to earn points, we recommend that you check with your card issuer to double-check that you'll receive the points from you rent payments.
Not always. It depends on your financial situation and what you’re trying to accomplish. Credit cards work best not for borrowing but when you’re channelling your standard spending into collecting significant rewards, like Qantas points, travel miles or cashback.
And you may be able to justify any fees if you’re trying to meet a minimum spend requirement for a great sign-up bonus.
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You’ll need to have your financial house in order before you attempt point hacking on rent.
Here’s the thing. Paying your rent each month through RentPay covers a large, regular expenditure that can earn you many points. All in all, those rewards (and the flexibility in when you pay your rent) may be worth it.
Played carefully, you’ll be able to unlock the full potential of your points-earning credit card. Check the fees chargeable and decide if the benefits received by paying your rent and bills with a credit card would outweigh the fees.
It’s easy to visualise yourself rolling in rewards points (à la Scrooge McDuck diving into a money bin), but don’t forget the usual traps:
Top tip: Stay current with the best point-earning credit cards in Australia here.
It’s easy. Just head to rentpay.com.au and follow the prompts to get started.
