Paying rent with CC

quinndelfre

Great way to build your credit rating if you have a 0% purchase promo offer. Pity I just thought about this after making a bank transfer to pay rent. Should've used my credit card instead. -______-

bengal-stripe

Private landlords are not likely to accept rent paid by CC. Some local authorities and housing associations might do it, but they are likely to ask for an additional charge (about 3%) to cover their additional costs.

Check with your landlord whether you can use CC at all and enquire about the additional costs.

quinndelfre

bengal-stripe wrote: »

Private landlords are not likely to accept rent paid by CC. Some local authorities and housing associations might do it, but they are likely to ask for an additional charge (about 3%) to cover their additional costs.

Check with your landlord whether you can use CC at all and enquire about the additional costs.

Don't think my private landlord will even notice I'm paying rent with a CC. He gave me his bank details and each month I transfer money to him by the deadline. No direct debit arrangements were set up. If I suddenly switch to using a CC he probably won't even know.

And what additional costs? Should be the person using the CC who faces any charges by the bank, not the receiver.

Deru

How does your private landlord take payment? Bank transfer?

A local authority will likely have a web portal that can accept credit cards. I've paid this way for someone and didn't incur any charges on my end. Does your private landlord have this facility? (I wouldn't be surprised with the innovative web services these days).

>And what additional costs? Should be the person using the CC who faces any charges by the bank, not the receiver.

TBH, I don't see how it's a great way to build credit. Any card with a balance of some sort will help. 0% promo doesn't really make much difference other than tempt you to spend on the card.

I'd think so. You'd pay the surcharge. I think what bengal meant is that you'd be paying more so you best check the charges to see if it's worth it. Not great to have to pay 3% extra even if you are on a 0% purchases deal.

[Deleted User]

OP - have you actually ever used a credit card before? If so, have you ever tried paying an individual?

ashleypride

OP if your credit card really has a facility to transfer money to a 3rd parties bank account, then that would treated the same as a cash advance, the 0% would not apply.

Candyapple

Unless the OP is talking about a money transfer card e.g. MBNA? But if they took out an MBNA Platinum card, assuming their rent is say £800pcm, they would need to transfer £9.6k to their bank account and with a 1.94% fee (£186.24) that would be interest free for 2 years. However, they would need MBNA to give them a limit of at least £12k to manage that and unless the OP is an above average earner and has an immaculate credit history, well.

quinndelfre

ashleypride wrote: »

OP if your credit card really has a facility to transfer money to a 3rd parties bank account, then that would treated the same as a cash advance, the 0% would not apply.

I'd think of paying someone rent the same as buying something online. Doesn't it count as a purchase? I'm using the CC to pay cash in advance then have to clear my CC balance within 56 days. I don't get charged when I'm buying things online. I get 0% charge for balance transfers and purchases, only charged for cash withdrawals.

bengal-stripe

quinndelfre wrote: »

I'd think of paying someone rent the same as buying something online.

You can only pay someone by card who is set-up to take cards. This involves a contract with a firm or a bank who will provide the necessary equipment and the service and in turn will take a percentage of every Credit Card transaction (a flat rate for Debit Cards). The level of fees will have to be negotiated and is dependent on the merchant's expected turnover.

Private individuals have little need to accept cards. Just as I cannot pay you money by CC (unless to a portal like paypal) so is (in all probability) your private landlord not set-up to take cards.

Ask him (or her).

[Deleted User]

If you transfer money to a bank account, then it's a cash advance. If your landlord doesn't accept card payments, then you'll end up paying fees and interest.

Landlords are generally not the same as online retailers. Unless you're renting from Amazon?

Thrugelmir

quinndelfre wrote: »

Great way to build your credit rating if you have a 0% purchase promo offer.

Using 0% accounts will do little to aid this.