It’s not huge, but it adds up when you’re now paying $84 extra per year. $2,000 payment? Your increase is $7 per month. Assuming your payment is $1,000 per month, that’s an increase of $3.50 per month. While an increase of 0.35% might not sound like a lot, remember that we are talking about using a credit card to pay mortgage or rent payments. While there are other options, most of them are not better. So, how do these other options compare to Plastiq? Is it time for a mass Exodus? Not really. Venmo will verify the legitimacy of payments and can’t be used for mortgage payments, but it works well if your landlord participates in rent payments this way.Ĭomparing To Plastiq Credit Card Payments For Mortgage / Rent You can transfer money for numerous reasons to anyone with the app, including paying your rent. Venmo is another app-based service that requires both people to have the app. That’s on top of the credit card fee.Ĭredit card fee: 2.95% + $9.95 per month if landlord not participating However, if you sign up on your own to get your payment history reported to the credit bureaus, this builds your credit and costs $9.95 per month. If your landlord collects rent through Renttrack, you pay only the credit card processing fee. Renttrack is not only a site for paying your rent but also a service for building credit. Landlord must register: yes, must set up account Like others, it only works for rent and not payment of other bills.Ĭredit card fee: 2.99% for Visa & Mastercard, 3.99% for American Express Numerous payment methods and frequencies are accepted, but your landlord must set up an account to receive the payments. Rentmoola also allows you to use a credit card to pay rent. For those whose landlords won’t fool with websites or apps, RadPad sends a check in the mail. The key perk of RadPad is that your landlord does not need to participate. Landlord must register: yes, must set up auto-deposit to bank account You can also set up recurring payments to avoid missed/late rent. They also allow for dividing the bill among roommates, setting alerts to know who has/hasn’t paid yet, and more. PlacePay is a rent payment system that allows for multiple payment methods, including credit cards.
Landlord must register: yes, both need the app You initiate a transfer through the app to another user and select the amount / payment method.Ĭredit card fee: 2% up to $499.99 / 3.5% + $0.30 after $500
You can add multiple sources of funding, including credit cards. Here are options for using a credit card to pay rent each month. That’s because more options abound, and the nature of rent (which is often shared among roommates) creates more demand for easy sharing. Paying rent with a credit card is much simpler than a mortgage. Melio credit card fee: 2.9% Use A Credit Card To Pay Rent While Plastiq advertises itself as essentially a “pay any bill” service, Melio notes its limitations. Melio is designed for businesses, but they work with sole proprietors. Unfortunately, Plastiq has only one rival that allows you to use a credit card to pay mortgage every month. Use A Credit Card To Pay Mortgage Payments Here are others to consider, now that Plastiq fees are going up. If I want to put as many of my bills as possible onto credit cards, so I can earn more points & miles, how can I use a card card to pay mortgage or rent payments? Plastiq was the main player. Paying your cell phone bill with a credit card is easy enough. While Plastiq offers tons of other services for paying with a credit card, rent and mortgage are the niche areas in our hobby. Non-Plastiq Options For Using A Credit Card To Pay Mortgage Or RentĪs Plastiq announced an increase in fees, the search begins for other options to use a credit card to pay rent or mortgage.
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