Benefits of Paying Rent with Credit Cards

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Advantages of Paying Lease with Credit score Playing cards – Know Prime Choices

Yr 2020 has strongly emphasised on the necessity for emergency fund. With a collection of month-to-month funds resembling Dwelling Mortgage EMIs, Credit score Card Payments, Housing Lease, Utility Payments, Tuition Charges of children & Grocery Payments a salaried particular person’s month-to-month outflows are virtually fastened. Throughout COVID Disaster when most folks confronted stalled revenue, it was troublesome to handle money flows for many people.

Nevertheless, those that exercised a little bit of warning and used their preapproved credit score restrict might get sufficient time traction to rejig their inflows and outflows. Let’s learn the way your Credit score Card that permits you to take pleasure in 50 days free credit score interval, may on the identical time take cost of your compulsive month-to-month funds of Lease payout and save extra in your pocket.

All it’s essential to do is obtain the app, join your card resembling SBI Merely Save Credit score Card, HDFC Millennia or another card and set out the recurring funds to your land lord’s checking account & extra. The transaction can be automated each month on the chosen date, saving you from the effort of remembering the cost date every month. You may as well add a number of playing cards for various transactions. Thus, you may direct SIs out of your bank card and defend your credit score rating.

Advantages of paying lease by means of bank cards

A few of the advantages of paying lease by means of Credit score Card are:

You get to take pleasure in 45-55 days of free credit score interval.
You earn all valueback & reward factors for transactions out of your card issuer.
In addition to extra rewards & gives are additionally provided from the rentpay apps.
Apps like Redgirraffe supply unique insurance coverage for Lack of job, private accident, crucial sickness, surgical procedure and many others.
In the event you hold your pockets loaded with money, you’ll take pleasure in extra curiosity earnings.
Constant funds from Credit score Card will construct your credit score rating.
The nice rating will enhance your credit score worthiness and make you preapproved for brand spanking new financial institution credit score.
There are not any hidden fees. A nominal transaction charge can be utilized. As an illustration, RedGirraffe fees 0.39% per transaction + GST which can be merely Rs 39/-+GST for each Rs 10,000 paid by way of the platform. Different fashionable platform CRED fees 1% – 1.5% of charge, as per Credit score Card community. So value of utilizing CRED RentPay can be Rs 100- Rs 150 for lease cost of Rs 10,000.
Similar to web banking, you get a personalised dashboard whereby you may handle the transactions.
You may as well get automated Lease Receipts. The digital transactions contain inbuilt TDS Cost Module, and thus ease on-line ITR submitting and claiming tax advantages.

To Lease Cost Apps for Credit score Playing cards

1. Redgirraffe rentpay

Redgirraffe ‘RentPay’is a pioneer fintech platform within the area. It permits tenants to pay out leases by way of main associate card issuers resembling HDFC Financial institution, Axis Financial institution, ICICI Financial institution, IndusInd Financial institution, Kotak Mahindra Financial institution, SBI-GE Playing cards & Sure Financial institution. The USP is low value of transaction.

To make use of Redgirraffe lease pay, comply with these steps:

SCHEDULE. You may arrange a standing instruction by way of your card/ checking account.

TRANSACT. You may direct speedy transaction or set automated funds for lease. You’ll be entitled to EXCLUSIVE advantages within the type of cashback, rewards and many others. A nominal charge can be charged for every transaction.

2. Nobroker

NoBroker Pay facilitates cost of home lease utilizing a spread of choices resembling Credit score Playing cards, Debit Playing cards, E-Wallets and many others. You should use the power by way of Nobroker App & Web site. Card Transactions by means of NoBroker Pay, allows you to earn cashback and/or reward factors re your card’s reward schemes.

That is comparatively a brand new platform and the service charge is low like RedGirraffe. The lease cost is marked as utility cost.

To make use of the service on NoBroker Pay you merely have to share fundamental particulars resembling landlord’s contact & account particulars, month-to-month lease quantity and date of cost. Then select your most popular mode of cost and the identical can be processed as instructed.

3. Housing.com

Housing.com is one other dependable platform to pay lease by means of Credit score Card and earn unique gives, money backs, reward factors, air miles & extra. The transaction might be made inside 30 seconds. You additionally get entry to computerized lease receipts on the platform which can be utilized for HRA claims. The cost is 100% secure and powered by razor pay. It’s going to take 1-2 days to switch the quantity. All main Credit score Card Manufacturers have tie up with housing.com for digital lease funds by way of playing cards.

4. CRED

CRED is without doubt one of the main RentPay apps that enables members to straight pay housing lease with Credit score Playing cards. The members can earn free money, interest-free credit score interval, and earn reward factors for the spends. In addition to the Credit score Card linked rewards and gives, you additionally earn Cred Cash which is extra money again to you. Presently CRED gives greatest at school customer support at greater charge as much as 1.5%. However all corporations might be linked to CRED together with Amex and Diners. All it’s essential to do is register as a member, add playing cards & set the funds.

5. PayZapp

Payzapp facilitates customers to attach by means of different lease pay apps resembling redgirraffe and No dealer and pay the housing lease problem free on-line. You’ll earn extra cashback gives and factors for the transactions. Thus, you get to save lots of extra utilizing your PayZapp Pockets.

Additionally Learn: Credit score Card Mortgage: A Preapproved Facility for Pressing Money Wants

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