How To Pay Rent Using Credit Cards? Step-by-Step Guide

Credit card is useful at the time of financial emergencies and unplanned expenses. Several credit card providers give massive benefits and discounts on credit card expenses on travel and hotel bookings. Certain credit card also comes with reward points, and cashbacks on rent payments.

With a large Indian population living on rented spaces, credit card rent payment can be a favourable option, especially those who already own a credit card. Payment of rent via credit card increases chances of improving credit score. Additionally, rent payment via credit card also helps in availing benefits of reward points and even cashbacks.

How To Pay Rent Via Credit Card?

The process of paying rent via credit card may vary depending on the credit card provider. For HDFC Bank and ICICI credit cards, customers are required to register at Rent Pay at the merchant website. Enter your details as well as that of your landlord to start paying rent via credit card.

-Select a suitable online payment application like PayZapp, CRED, Freecharge, etc which support rent payment via credit card. Download the application and install it.

-Sign up at the chosen platform and login. Complete your know your customer (KYC) details to start making payments using that application.

-Enter the details of your landlord like name, account details, etc to make the payment. Cross-check before proceeding to avoid any mistake.

-Enter the amount of rent and proceed to make the payment.

-Select payment method as credit card. Enter your credit card details

Alternative Way To Pay Rent Via Credit Card?

-Another easy way to make rent payment via credit card is by online banking. Visit your bank's online website or portal.

-Choose 'Online transaction' option.

-Enter your landlord's bank account number and other details. Recheck the details to avoid any mistake.

-Proceed and choose credit card as method of payment.

-Enter your card details and registered mobile number and proceed.

-Enter the one time password (OTP) sent on your registered mobile number. Proceed to complete the transaction.

What Are The Benefits of Rent Payment Via Credit Card?

Tenants can now enjoy the convenience of various payment methods for their rent, including credit cards, debit cards, etc. This flexibility allows for easier management of payments according to individual preferences and financial setups.
One of the key advantages of rent payments via credit cards is simplified track of payments and financial records. This also make it convenient for tenants to stay organised. Tenants can also enable auto payment option and stay up-to-date with due date notifications, ensuring they are always informed about impending payment deadlines.

Things To Consider Before Opting For Credit Card For Rent Payment

Interest-Free Period: While paying rent using credit card, be mindful of the interest free period option on such transactions. Exceeding the period on making credit card payment may attract unnecessary interest.

Processing Fees: Paying rent via credit card may attract additional cost of processing fees. Certain platforms impose convenience fees for credit card transactions. This fees vary from credit card to credit card. It also depends on amount of rent payment and online platform you are using for making the payment.

Rewards and Cashback: If you are considering to switch to credit card for rent payments only for rewards and cashback, then you might face disappointment. Not every credit card provider offers rewards and cashback. Hence, it is important to thoroughly go through updated credit card rewards and cashback schemes to know about their policies on credit card payments on rent.