Credit cards have become a vital tool for managing finances in today’s digital age. Using online credit card payment processing provides ease, flexibility, and incentives. However, with so many ways to pay rent with credit cards available in India, determining the best credit card for rent payment might take a lot of work. While several platforms allow you to pay rent with a credit card, let us first look at the advantages of paying rent online.
Why Should You Use a Credit Card to Pay Your Rent?
1. Offers on Rewards: At the point when you make a lease instalment, the best Visa, a few banks, and Online business stages offer you significant prizes Mastercard for paying rent each time you utilise your charge card. Your account receives the cashback you earn on a regular basis.
2. Period of Free Credit: At the point when you pay lease utilising a charge card, you get 45 days of free credit. Subsequently, assuming that you settle your Mastercard account in the span of 45 days, you will not need to pay any revenue.
3. Improve Credit Score: In the event that your CIBIL credit score is poor (under 750), you can raise it (to 750 or higher) by making critical buys (like lease) consistently. For the people who don’t have the foggiest idea, banks and non-bank monetary organisations (NBFCs) assume an individual’s praise score into account while assessing their credit qualification. In any case, it is recommended to remain inside 30% of your credit use proportion since this could adversely affect your financial assessment.
4. Hit the annual spending: A significant number of the best Mastercards for lease instalment clients need assistance with not surpassing their Visas yearly spending limit. Be that as it may, assuming you pay your lease with a Mastercard consistently, you will rapidly meet your yearly spending limit.
5 of the Best Credit Card for Rent Payment Platforms to Pay Rent:
1. Rent Payment via Credit Card on NoBroker
This real estate platform that allows users to buy, sell, and rent properties is NoBroker.in. You can use a credit card to pay rent and social maintenance on the forum. Major credit cards, such as Visa and Mastercard, can be used to make rent payments and earn reward points and cashback on the NoBroker platform. This can be an easy way to pay rent with a credit card. The platform’s versatile payment options also cater to wholesale real estate investors, streamlining transactions and financial management in their property dealings.
2. PhonePe
Rent payments with a credit card are now accepted on PhonePe, one of India’s most well-known digital payment platforms. The rent payment option was added to the digital payment finance app in 2021. The interface is similar to those of Paytm and Freecharge in that it asks for only the data needed to process rent payments.
3. Paytm
The most widely used platform in India for bill payment, ticket booking, phone recharging, and many other tasks is Paytm. Customers can effortlessly pay their rent with a credit card through Paytm’s platform. When paying your rent online, you can select to have the money transferred to either your landlord’s bank account or your UPI ID. It is considered one of the most accessible credit card rent payment apps in India.
4. CRED
CRED is one of best credit card for rent payment apps after NoBroker that pays you for the timely payment of your credit card bills. The CRED app allows you to pay your rent each month using a credit card. You can apply for the CRED rent pay service through the CRED app for a transaction fee ranging from 1% to 1.5%, depending on your credit card network.
5. Magicbricks
Magicbricks is a leading real estate site in India for selling, buying, and renting residential and commercial properties. Magicbricks has added a new function that allows customers to pay rent using a credit card through its website and earn incentives and other benefits. Furthermore, Magicbricks is one of the cheapest platforms for paying rent with a credit card because it charges a modest processing cost of 1% of the transaction value if you use a VISA or Mastercard credit card.
Conclusion
The best credit card for rent payment apps or websites is a convenient choice for some people, but it’s critical to examine the advantages and downsides before committing to this method of payment. When determining whether to pay your rent using a credit card, you should consider credit card processing fees, rewards points, and other benefits. Finally, all factors considered, NoBroker.in is one of the best apps to pay rent via credit card, so try it today!
