You get charged a 3% transaction fee for using a credit card, which more than wipes out the value of any points you might earn.
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(Excluding the Bilt card, which used to let you earn 1% on rent and they processed it like an ACH/bank debit, so no credit card fee. But they recently restructured their rewards and it’s not nearly as easy to profit now.)
Not every card gets charged a 3% mine for example doesn’t. I get 3% back on rent, housing and insurance on my card. There’s no fees involved. So it’s just a flat 3% discount.
Pay rent with card in the first, pay it off on the second when it posts.
It doesn’t exist. There is no credit card which gives 3% cash back on rent specifically. Op might be confused about some cards which give rewards for “housing expenses” which means like Home Depot and shit.
X1 used to give 3 points and my buddy’s rental house charged a 2 and change percent fee. He could only get full point values certain places so he’d save up all the points and that was his Christmas fund. He’d bank $600/yr ( about $500 real dollars from paying the transaction fee plus the extra hundred-ish bucks in points he’d get for free). They recently went to a 1.5 point model but kept the restrictions on where you could spend to get the full point value. Guess what card of his never gets used now.
You get charged a 3% transaction fee for using a credit card, which more than wipes out the value of any points you might earn.
Tap for spoiler
(Excluding the Bilt card, which used to let you earn 1% on rent and they processed it like an ACH/bank debit, so no credit card fee. But they recently restructured their rewards and it’s not nearly as easy to profit now.)
Not every card gets charged a 3% mine for example doesn’t. I get 3% back on rent, housing and insurance on my card. There’s no fees involved. So it’s just a flat 3% discount.
Pay rent with card in the first, pay it off on the second when it posts.
Well, don’t leave us hanging, which card is that?
It doesn’t exist. There is no credit card which gives 3% cash back on rent specifically. Op might be confused about some cards which give rewards for “housing expenses” which means like Home Depot and shit.
Also I sometimes get a 3% fee for debit
X1 used to give 3 points and my buddy’s rental house charged a 2 and change percent fee. He could only get full point values certain places so he’d save up all the points and that was his Christmas fund. He’d bank $600/yr ( about $500 real dollars from paying the transaction fee plus the extra hundred-ish bucks in points he’d get for free). They recently went to a 1.5 point model but kept the restrictions on where you could spend to get the full point value. Guess what card of his never gets used now.
I was thinking about that Bilt card.