Best Credit Cards to Paying Rent :Are you in search of the top-notch credit cards to pay rent with the ever-changing fees and incentives? Using a credit card to pay rent has been a fast track to earn rewards and reach spend waivers. However, due to its potential misuse, several banks have put a cap on rewards for rent payment transactions. Nevertheless, a few credit cards still offer handsome rewards for paying rent. Below is a carefully curated list of the best credit cards to pay rent while earning rewards. Our focus is on cards that provide the most lucrative rewards and benefits for rent payment transactions.
Standard Chartered Ultimate Credit Card
The Standard Chartered Ultimate Credit Card, an exceptional choice for individuals seeking to maximize their rewards on rent payments. With this credit card, customers can earn a generous 2% cashback on their rent payments. Additionally, for every reward point earned, customers can redeem it for Rs 1 towards a gift voucher redemption.
What sets the Standard Chartered Ultimate Credit Card apart from its competitors is the absence of any cap on the reward points earned. This means that customers can earn unlimited rewards points on their rent payments.
While the joining and annual fee for the card is Rs 5000+GST, customers are rewarded with a renewal benefit of 5000 reward points.
It’s important to note that the card also charges a processing fee of 1%+GST on rent payments.
Axis Bank Vistara Infinite and Signature
All credit cards from Axis Bank’s Vistara range offer milestone benefits. Upon reaching the milestone, you are eligible for a premium economy or business class ticket based on the type of card you possess. Opting to use any of these cards for your Vistara transactions is also a good idea. It is worth noting that while the terms and conditions for the milestone benefits do not include rent payments, there has been some ambiguity around this issue as some customers have received conflicting information from customer care. Therefore, it is advisable to seek a secondary confirmation from customer support via email before using the card for rent payments.
The joining and annual fees for these cards are Rs 3000+GST for the Signature card and Rs 10000+GST for the Infinite card. On renewal, you are entitled to one complimentary business or premium economy ticket. Additionally, you can earn up to 6 CV points per Rs 200 spent on rent payments, and there is no cap on the rewards for rent payments. However, there is a processing fee of 1%+GST for rent payments.
Axis Bank Magnus credit card
The Axis Bank Magnus credit card offers a 1.2% base reward for Amazon gift vouchers and 4.8% for airmiles. If you are planning to redeem rewards for Amazon gift vouchers, it doesn’t make sense to use the Magnus credit card for rent payments. However, if you wish to earn airmiles, using the Magnus credit card for rent payments is still a viable option.
To avail the benefits of this credit card, you need to pay a joining and annual fee of Rs 10,000 plus GST. On renewal, you can receive a benefit of a Rs 10,000 Tata CLiQ voucher. The rewards for rent payment range from 1.2% for voucher redemption to 4.8% for points transfer. However, please note that the cap on rent payment rewards is limited to rent payments up to Rs 50,000 per month. Additionally, a processing fee of 1% plus GST applies to rent payments.
Axis Bank Reserve Credit Card
It is not advisable to obtain the Reserve credit card solely for the purpose of paying rent. However, if you already have the card, utilizing it for rent payments can be a good option. The Reserve credit card can be a worthwhile choice for paying rent, but only if you intend to redeem the EDGE rewards for Airmiles or hotel loyalty points.
The Reserve credit card requires an annual fee of Rs 50,000 + GST, and the joining fee is the same. Upon renewal, you will receive a benefit of 50,000 EDGE reward points. The rewards offered for rent payment range from 1.5% (voucher redemption) to 6% (points transfer). Nevertheless, the cap on rent payment rewards is only applicable to rent payments up to Rs 1 Lakh per month. It is important to note that there is a processing fee of 1%+GST on rent payments.
In summary, getting the Reserve credit card solely for rent payment may not be a wise decision, but it can be advantageous if you already have the card and plan to redeem the EDGE rewards for Airmiles or hotel loyalty points. Please keep in mind the annual fee, joining fee, reward percentage, and reward cap when considering the Reserve card for rent payment.
Standard Chartered Smart Credit Card
Nowadays, nearly all credit cards that offer cashback rewards have discontinued providing cashback on rent payments. However, there is still one exception to this trend: the SC Smart credit card. This credit card still offers a cashback reward of 2% for rent payments. While there is still a processing fee for rent payments, the cashback reward results in a positive return overall.
To obtain the SC Smart credit card, there is an initial fee of Rs. 499 plus GST, and there is no renewal benefit offered. When using the card for rent payments, there is no cap on the amount of cashback reward that can be earned. However, there is a processing fee of 1% plus GST on rent payments.
In summary, while most credit cards have discontinued cashback rewards for rent payments, the SC Smart credit card still offers this benefit. With an initial fee of Rs. 499 plus GST, and a 2% cashback reward for rent payments with no limit, this credit card can provide a positive return on rent payments despite the processing fee.
Club Vistara SBI Card Prime
The Club Vistara SBI Card Prime offers benefits similar to the Axis Bank Vistara cards. By paying rent through the card and achieving the milestone, you become eligible for a complimentary ticket.
The card has a joining and annual fee of Rs 2999+GST. When you renew your card, you receive a complimentary premium economy ticket. Furthermore, you can earn 4 CV points for every Rs 200 spent on rent payment without any limit on rewards. However, there is a processing fee of Rs 199 plus GST on rent payments.
Don’t miss the chance to enjoy the benefits of the Club Vistara SBI Card Prime. Apply for it now and take advantage of its rewards.
Conclusion:
Nearly all credit card providers have implemented a processing fee for rent payments. This has made it challenging to accumulate rewards while paying these additional charges. Consequently, it has become imperative to choose a rent payment application with minimal fees. For individuals with rental agreements, our recommended app is RedGirraffe. It offers the flexibility to pay using any credit card, with PayZapp being the preferred option for RedGirraffe biller accounts.
We understand the importance of maximizing rewards while keeping expenses to a minimum. Therefore, we strongly advise considering RedGirraffe for all your rental payment needs.