With paying rent being your largest expense, sometimes you come up a little short to pay it in full or on time, or you just like the convenience that a credit card provides. There are sites where you can pay part or all of your rent with a credit card. So, why would you want to do this?
• Believe it or not, on time rent payments can help establish and build creditworthiness. There are sites that allow you to pay rent in full or partially with a credit card. So, you don’t have to worry each month if you can pay your rent.
• It’s very convenient. Your payment is processed in a matter of minutes vs. a day or two by check.
• It’s beyond simple. And, you know you’ve paid because it appears on your account statement.
• Most sites protect your information. They often use a 256-bit SSL encryption and a user’s payment and transaction information is stored behind firewalls with constant monitoring and accessed via secure protocols such as HTTPS. All credit card and account information is stored in a PCI DSS compliant network.
• Amassing airline miles is another great reason to use your credit card for rent as many airlines will give you a mile for every dollar spent. If you pay your credit card in full each month, there are a variety of sites that allow you to use your credit card for all or part of your rent.
• People who rent, may have a more difficult time building credit than those who pay a mortgage. No matter your situation, you always want to be building and maintaining a positive credit history. Paying your rent each month using a credit card and then paying that card on time will help build your credit history.
• If you are used to paying by check and if you’ve hit hard times and are at risk for eviction, then paying by credit card could be a great option.
