Re:Credit-Card Debt Nears $1 Trillion as Banks Push Plastic
by harryh on Friday May 20, 2016 @11:40AM
(#11738720)
How do you pay your rent on a credit card? I'd imagine you do that to get rewards of some kind?
[ Parent
| on HN ]
Re:Credit-Card Debt Nears $1 Trillion as Banks Push Plastic
by exhilaration on Friday May 20, 2016 @11:59AM
(#11738896)
There's a few services that will act as intermediaries for you like https://www.plastiq.com/ which charges 2.5%. I learned about these services on Slickdeals in a discussion on how to quickly rack up credit card reward points. A Google search turns up this list http://www.doctorofcredit.com/complete-list-of-options-for-p... (I'm not affiliated with the author).
Re:Credit-Card Debt Nears $1 Trillion as Banks Push Plastic
by harryh on Friday May 20, 2016 @12:03PM
(#11738928)
Ya, I've seen these. It seems like the fee would likely be more than the value of the reward making it a losing proposition? Just wondering if the OP found a better way.
Re:Credit-Card Debt Nears $1 Trillion as Banks Push Plastic
by throwawaykeno on Friday May 20, 2016 @12:59PM
(#11739463)
The land lord I use allows paying with plastic. There is a ~2% fee. It's better than a wash financially, but just barely. But it's net win for me even when it's a wash because I don't have to worry about mailing a check every month.
FWIW in months when I buy expensive plane tickets or make reimbursed purchases I skip paying rent with the CC.
Re:Credit-Card Debt Nears $1 Trillion as Banks Push Plastic
by electroly on Friday May 20, 2016 @02:49PM
(#11740446)
If you just don't want to mail a check every month, you don't need to go as far as a credit card and paying a 2% fee. Your bank should have a bill-pay feature, and they will cut a check and mail it on your behalf. Usually this is a completely free service and can be done on an automatic schedule.
Re:Credit-Card Debt Nears $1 Trillion as Banks Push Plastic
by douche on Saturday May 21, 2016 @07:21AM
(#11744285)
These services are routinely awful and incompetent, however. Also, you're relying on the postal service actually delivering the mail, which is often a dicey proposition.
Bank transfers really ought to be easier to do than they are.
Re:Credit-Card Debt Nears $1 Trillion as Banks Push Plastic
by nucleardog on Friday May 20, 2016 @05:53PM
(#11741826)
I helped a landlord I was working with on other projects set up a basic Stripe form on the website for one of their properties. No subscriptions or automated payments, you can just go to their site and send them money via credit/debit card.
They eat the couple percent in transaction fees. In return, almost all of their tenants now pay online and instead of the property manager chasing people down for money, everyone generally pays on time (or, in a number of cases, early).
Depending on your priorities, "not having to chase people down for money every month" might be worth paying the $500/mo.
Re:Credit-Card Debt Nears $1 Trillion as Banks Push Plastic
by snuxoll on Friday May 20, 2016 @01:40PM
(#11739849)
I haven't mailed a rent check in quite some time, my old property management company used paylease to accept online rent payments ($2 fee to pay with ACH, but at least I didn't have to mail a check). My current rental I just pay the property owner directly through Wells Fargo SurePay to her Chase account, works great and no fees for either of us (which makes for a happy me not having to mail a check, and a happy property owner who doesn't have to lose a cent of her rent just to accept payment).
I do not miss mailing checks in, and I do not wish to ever do it again.
Re:Credit-Card Debt Nears $1 Trillion as Banks Push Plastic
by mikeash on Friday May 20, 2016 @04:08PM
(#11741065)
It pretty much has to be, by definition, otherwise either the service or the card company would be losing money. It generally only works out if there's a loss leader that you're taking advantage of, e.g. many card companies offer occasional rewards at a loss to encourage people to use the card more in the long term.
Re:Credit-Card Debt Nears $1 Trillion as Banks Push Plastic
by tdfx on Friday May 20, 2016 @12:06PM
(#11738960)
How do you make this profitable with a 2.5% service charge?
Re:Credit-Card Debt Nears $1 Trillion as Banks Push Plastic
by exhilaration on Friday May 20, 2016 @12:13PM
(#11739031)
You only use it to meet the spending requirements for the signup bonus. For example the Slickdeals home page has the Chase Sapphire right now: "50k Bonus Points ($625 towards travel) w/ $4000 Spent in First 3 Months of Account". Other cards have similar spending requirements.
Re:Credit-Card Debt Nears $1 Trillion as Banks Push Plastic
by profmonocle on Friday May 20, 2016 @12:01PM
(#11738912)
My apartment accepts payments by card, but they pass the processing fees to the renter so it costs like 3% extra, which more than cancels out the CC rewards.
My last apartment had the same option, so I think it's pretty common.