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How to Pay Rent through Credit Card?
By Anupama Deshpande | May 02, 2018

Rent is one of the biggest monthly expenses of a household. You generally pay your rent by cash, by issuing cheque or through fund transfer. What if there is a facility of payment of rent using your credit card or debit card.



Now it is possible to pay your monthly rent using your credit card or debit card. I am mentioning below the ways for doing the same.

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How to Pay Rent through Credit Card?

(1) Through RedGirraffe's RentPay

You may use UK-based company RedGirraffe's pan India rent platform "RentPay" to pay your monthly residential and commercial rentals via Credit and Debit Cards from anywhere using Blockchain technology. There will be a bank transaction charge of 0.39% per transaction i.e. Rs 39/- for every Rs 10,000 plus Service Tax. You don't require your landlord's permission for the same. It has tied up with many major banks in India such as State Bank of India, ICICI Bank, HDFC Bank, IndusInd Bank, Axis Bank and Kotak Mahindra Bank. If you have a credit card of any of the banks that have a tie up with RedGirraffe, you can use that credit card to pay your monthly rent.

Step by Step Process
  1. Log on to RedGirraffe website www. redgirraffe.com
  2. Click on RentPay button
  3. Fill in your (tenant) and your landlord's detail
  4. Upload the rental agreement
  5. Click on Submit button
  6. You will receive a unique RedGirraffe ID
  7. Now log into your debit card/ credit card issuing bank's website
  8. Register the RedGirraffe ID for paying the monthly rental
  9. After that, RedGirraffe ID will get approved by your bank

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Method (1)
  1. Place a standing instruction
  2. Every month your monthly rental payment shall get deducted automatically by your bank
  3. Onward payment will be made to your Landlord
Method (2)
  1. If you don't put a standing instruction
  2. You need to log in every month
  3. Trigger the individual monthly payment through your bank
(2) Using PayTm plus Credit Card

You can pay your rent via credit card with the help of PayTm Wallet

Step by Step Process
  1. Transfer rent amount from Credit Card to PayTm Wallet
  2. Make fund transfer from your PayTm Wallet to Bank Account of your landlord

Suggested reading Is buying home better than renting?

Benefit of paying Rent through Credit Card

  1. You get upto 30 to 60 days of interest free credit period, if you pay your rent using Credit Card
  2. You can earn interest on the rental amount kept in your savings account for these 30 to 60 days
  3. If you make timely payment of your credit card bill, then you can improve your credit score
  4. You earn reward points, gift vouchers, cashbacks, air-miles, etc. for using your credit card
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About Anupama Deshpande
Anupama is a Co-Founder of CodeForBanks.com. She is an MBA (Finance) and Chartered Financial Analyst (CFA). She also carries a Fellowship degree in Life Insurance Sector and is a Master of Computer Application (MCA). She is an expert in Finance Field with an experience of over 18 years on different managerial positions in finance industry including Stock Market, Depository and Mutual Fund Sectors. Apart from that she has remained for few years in the field of marketing as well. Her suggestions and advice for investments have been very useful to many people.
Her vast interest & expertise in the field of finance have encouraged her to write the articles so that others can also get benefitted out of them. She never loses any opportunity to learn and be creative. She is a valuable asset for CodeForBanks.com & important resource to all those around her.

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