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Posted: 4/8/2023 2:14:14 PM EDT
[#1]
Well, we can see who doesn't understand credit cards, or this particular product.
What if you use a card every month and paid in full every month?  What if the Bilt card offered to pay their partners without a transaction fee? (this is their "gimmick") What if I told you that a service called Plastiq let's you pay your mortgage or other payees for a small fee, and you could use any of a bunch of other credit cards (whether it is a no fee card depends on you)?
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Posted: 4/8/2023 2:18:18 PM EDT
[#2]
Quote HistoryQuoted: It says they send a check on your behalf. So, how do they make money if they can't charge a merchant fee to a landlord that only takes checks? Volume. |
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Posted: 4/8/2023 2:19:30 PM EDT
[#3]
Quote HistoryQuoted: Rent is $1000 Want to pay with a card? No problem! Rent is $1087 Enjoy your $5 reward perk Lol typical boomer. "Oh my god, the millennials are benefiting at no expense to me and I'm not fucking them over?? THIS WILL NOT STAND!!" |
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Posted: 4/8/2023 2:20:02 PM EDT
[#4]
Quote HistoryQuoted:  OP makes fun of boomer who have been paying for everything, including their mortgage or "rent" with reward credit cards for years, and he is just now figuring that out now.  How do you pay a mortgage with a reward card? I have a mortgage, and a reward card, and I want the points. 
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Posted: 4/8/2023 2:20:06 PM EDT
[#5]
Quote HistoryQuoted: Uh, landlords don't take credit cards. Uh, that includes Venmo BTW. PAY ON TIME BY CHECK OR WIRE TRANSFER ONLY. Quote HistoryQuoted: Uh, landlords don't take credit cards. Uh, that includes Venmo BTW. PAY ON TIME BY CHECK OR WIRE TRANSFER ONLY. It sends a check in the mail on renters behalf. |
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Posted: 4/8/2023 2:20:06 PM EDT
[#6]
Quote HistoryQuoted: Well, we can see who doesn't understand credit cards, or this particular product. What if you use a card every month and paid in full every month? What if the Bilt card offered to pay their partners without a transaction fee? (this is their "gimmick") What if I told you that a service called Plastiq let's you pay your mortgage or other payees for a small fee, and you could use any of a bunch of other credit cards (whether it is a no fee card depends on you)? I don't care how your check or wire transfer arrives. If it arrives on time we are OK. If it arrives late for any reason whatsoever, you pay the late fees per contract. |
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Posted: 4/8/2023 2:25:45 PM EDT
[#7]
Y’all realize these “landlords” are really multibillion dollar corporations right? This is the you will own nothing and be happy program.
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Posted: 4/8/2023 2:28:19 PM EDT
[#8]
If I was a LL I would gladly take a CC payment BUT I would divide your rent by 96% to cover the 4% I'm going to lose taking it
1500 / 96% = 1562.50 I still get my 1500 and you get to pay 1562.50 |
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Posted: 4/8/2023 2:28:21 PM EDT
[#9]
Quote HistoryQuoted: Y’all realize these “landlords” are really multibillion dollar corporations right? This is the you will own nothing and be happy program. I am not a multi-billion dollar corporation. I am also not going to pay a 1.9% to 4% fee so my tennant can pay by credit card. |
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Posted: 4/8/2023 2:44:27 PM EDT
[#10]
Quote HistoryQuoted: The card will mail a check.  Quote HistoryQuoted: Quoted: Uh, landlords don't take credit cards. The card will mail a check. 1x points on rent is still kinda weak, though. Better than a kick in the nuts, but far from making your rent feel affordable.  Wonder if they'll let you use it with mortgage lenders (EDIT: They will not. Bummer.) |
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Posted: 4/8/2023 2:46:02 PM EDT
[#11]
Quote HistoryQuoted: It says they send a check on your behalf. So, how do they make money if they can't charge a merchant fee to a landlord that only takes checks? Quote HistoryQuoted: Quoted: Uh, landlords don't take credit cards. It says they send a check on your behalf. So, how do they make money if they can't charge a merchant fee to a landlord that only takes checks?
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Posted: 4/8/2023 2:46:48 PM EDT
[#12]
just an updated Players Club?
who loves ya baby? |
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Posted: 4/8/2023 2:50:38 PM EDT
[#13]
Quote HistoryQuoted: Paying rent on credit? Unless the balance is paid off monthly that seems kind of dumb. And how many of the Gen Z's aren't bitching about how difficult it is to pay for their lives and can afford to do that? 
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Posted: 4/8/2023 3:19:03 PM EDT
[#14]
Any landlord who accepts credit card payments for rent deserves what’s coming to them.
ETA: I see now the credit card sends a check. Interesting concept |
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Posted: 4/8/2023 3:21:19 PM EDT
[#15]
Quote HistoryQuoted: Strange. I worked for many employers that rented their suites or buildings. I rented various apartments for ~20 years. I have rented and leased out commercial property. Not one contract allowed payment with a credit or debit card. Quote HistoryQuoted: Quoted: When I was renting a commercial space, I paid with a Delta SkyMiles card every month. The rewards were very worth it. The building was owned by a car dealership. I just went in every month and paid at the cashier in the dealership. Strange. I worked for many employers that rented their suites or buildings. I rented various apartments for ~20 years. I have rented and leased out commercial property. Not one contract allowed payment with a credit or debit card. I pay my rent for my business on the commercial building with a credit card. Never has been an issue with commercial. They auto draft it every month. |
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Posted: 4/8/2023 3:23:41 PM EDT
[#16]
Quote HistoryQuoted: If I was a LL I would gladly take a CC payment BUT I would divide your rent by 96% to cover the 4% I'm going to lose taking it 1500 / 96% = 1562.50 I still get my 1500 and you get to pay 1562.50 You’d be big mad when a tenant did a charge back on their last month of rent. |
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Posted: 4/8/2023 3:26:29 PM EDT
[#17]
Quote HistoryQuoted: I buy everything on credit that I possibly can, for the reward points. Same. Amazon card, paid off monthly...I get tons of free crap out of it. |
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Posted: 4/8/2023 3:26:52 PM EDT
[#18]
Quote HistoryQuoted: You’d be big mad when a tenant did a charge back on their last month of rent. I’d be shocked if any reputable card company would even process that chargeback. |
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Posted: 4/8/2023 3:30:43 PM EDT
[#19]
i gots your 'black card' right here...
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Posted: 4/8/2023 3:32:30 PM EDT
[#20]
Quote HistoryQuoted: You’d be big mad when a tenant did a charge back on their last month of rent. No payment processor is dumb enough to allow a charge back under this scenario. They are very good at tracking payment behaviors, both individually and in the aggregate (IOW, somebody who pays rent to the same payee for months and months suddenly requests a charge back? Sticks out). |
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Posted: 4/8/2023 3:37:08 PM EDT
[#21]
Quote HistoryQuoted: I am not a multi-billion dollar corporation. I am also not going to pay a 1.9% to 4% fee so my tennant can pay by credit card. |
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Posted: 4/8/2023 3:40:16 PM EDT
[#22]
Quote HistoryQuoted: Let me pay my mortgage with one and get points I’ll sign up this afternoon, If you got your own CC processor that charged a lower percentage than the cash back on the CC, it would theoretically work in your favor. |
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Posted: 4/8/2023 3:46:32 PM EDT
[#23]
Quote HistoryQuoted: Lol typical boomer. "Oh my god, the millennials are benefiting at no expense to me and I'm not fucking them over?? THIS WILL NOT STAND!!" Quote HistoryQuoted: Quoted: Rent is $1000 Want to pay with a card? No problem! Rent is $1087 Enjoy your $5 reward perk Lol typical boomer. "Oh my god, the millennials are benefiting at no expense to me and I'm not fucking them over?? THIS WILL NOT STAND!!" I think what he's getting at is that most cards have a merchant fee. Landlords would raise the rent to cover that and any additional exposure -- like, would chargebacks be possible? At least, that was my first thought here, that the credit card company isn't doing this all for free. Their cut is coming from somewhere. |
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Posted: 4/8/2023 3:58:23 PM EDT
[#24]
The Gen Xers take credit card payments from their children?
What is the credo from Gonad the Mooch. PAY NO RENT, EAT FREE, AND HEAR THE LAMENTATIONS OF THE PARENTS! |
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Posted: 4/8/2023 3:58:37 PM EDT
[#25]
Quote HistoryQuoted: Quick edit there. Quote HistoryQuoted: Quoted: Mine does. Maybe you need to switch. landlords no but mortgage loan firms will. if ppl are still renting, maybe its time for them to stop throwing their money away and buy a home. Quick edit there. Dont want to offend any one by pointing fingers lol. |
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Posted: 4/8/2023 4:20:30 PM EDT
[#26]
Quote HistoryQuoted: They make money off interest paid by those too irresponsible to pay off the credit card every month. Quote HistoryQuoted: Quoted: Quoted: Uh, landlords don't take credit cards. It says they send a check on your behalf. So, how do they make money if they can't charge a merchant fee to a landlord that only takes checks? They make money off interest paid by those too irresponsible to pay off the credit card every month. The credit card terms are not clear. Current rates are 20.99% to 28.99% but it is a variable rate card based on the market. They do not say what the benchmark is or how much they add to it. I don’t trust them. |
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Posted: 4/8/2023 4:24:51 PM EDT
[#27]
Quote HistoryQuoted: Any landlord who accepts credit card payments for rent deserves what’s coming to them. ETA: I see now the credit card sends a check. Interesting concept Credit Cards have offered cash advance checks for a long time. The new part of this is they are not charging you 3% upfront for using this service. They are absolutely hoping you miss paying your balance due in full and pay them 21% to 29% interest. |
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Posted: 4/8/2023 4:33:44 PM EDT
[#28]
I manage some properties. "is there any way I can pay with a credit card?" "well, the fees are about 30 bucks a month. I don't absorb that, and the owner doesn't want to either--will you pay a 3% convenience fee?" "never mind"
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Posted: 4/8/2023 4:38:18 PM EDT
[#29]
Quote HistoryQuoted: Credit Cards have offered cash advance checks for a long time. The new part of this is they are not charging you 3% upfront for using this service. They are absolutely hoping you miss paying your balance due in full and pay them 21% to 29% interest. Quote HistoryQuoted: Quoted: Any landlord who accepts credit card payments for rent deserves what’s coming to them. ETA: I see now the credit card sends a check. Interesting concept Credit Cards have offered cash advance checks for a long time. The new part of this is they are not charging you 3% upfront for using this service. They are absolutely hoping you miss paying your balance due in full and pay them 21% to 29% interest. Yeah. They can just use those handy checks that come in their monthly statement and pay rent with that. |
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Posted: 4/8/2023 4:52:27 PM EDT
[#30]
Quote HistoryQuoted: You’d be big mad when a tenant did a charge back on their last month of rent. Quote HistoryQuoted: Quoted: If I was a LL I would gladly take a CC payment BUT I would divide your rent by 96% to cover the 4% I'm going to lose taking it 1500 / 96% = 1562.50 I still get my 1500 and you get to pay 1562.50 You’d be big mad when a tenant did a charge back on their last month of rent. Yet another reason not to accept credit cards for rent. Are you sure the auto draft doesn't come out of a bank account? Do you pay a fee for the transaction? |
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Posted: 4/8/2023 4:53:06 PM EDT
[#31]
Quote HistoryQuoted: It says they send a check on your behalf. So, how do they make money if they can't charge a merchant fee to a landlord that only takes checks? This card is marketing towards the current crop of tards that have just been thrown out of mom and dad's place and live off of gig type jobs and doordash. They don't care about a transaction fee. They care about letting you keep paying for larger ticket items like your overpriced rent, because you HAD to get that nice townhome you don't have any furniture for because now it looks like you're ballin to your friends. Toss in living off of DoorDash and whatever bullshit, and that statement adds up FAST. I'm sure the interest rate is pushing 40% on these. They'll never get out of it. |
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Posted: 4/8/2023 4:57:07 PM EDT
[#32]
Quote HistoryQuoted: Right, but as was stated several times, they will cut you a check if you don't want to take credit. As a landlord, I don't see how that's not a win. I'd rather a tenant rack up debt to a third party creditor and skip out on them, so long as I got paid either way, rather than just skip out on paying rent. Quote HistoryQuoted: Quoted: I am not a multi-billion dollar corporation. I am also not going to pay a 1.9% to 4% fee so my tennant can pay by credit card. A check is a check until it bounces. Then it is a crime. |
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Posted: 4/8/2023 4:59:00 PM EDT
[#33]
Quote HistoryQuoted: Dont want to offend any one by pointing fingers lol. Quote HistoryQuoted: Quoted: Quoted: Mine does. Maybe you need to switch. landlords no but mortgage loan firms will. if ppl are still renting, maybe its time for them to stop throwing their money away and buy a home. Quick edit there. Dont want to offend any one by pointing fingers lol. I pissed off a poster that I exchange posts with on a near daily basis recently. I regret it. |
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Posted: 4/8/2023 6:41:31 PM EDT
[#34]
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Posted: 4/8/2023 6:52:20 PM EDT
[#35]
Quote HistoryQuoted: Rent is $1000 Want to pay with a card? No problem! Rent is $1087 Enjoy your $5 reward perk Why does nobody read anything? |
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Posted: 4/8/2023 7:09:38 PM EDT
[#36]
I wish I could pay my mortgage with a cashback card.
I had a truck loan that allowed me to make the payment via cc without any upcharge or service fees. That was awesome. I know there’s at least one rental company here that takes cc or debit card payments with no transaction fees. Have a younger cousin that rents from them. Just signs into their online portal and pays it with his debit card. I’ll bet they have already ran the numbers and compared the processing fees to the cost of paying somebody to set in an office and take payments and bang away on a computer updating who is paid,do bookkeeping,etc. |
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Posted: 4/8/2023 7:11:01 PM EDT
[#37]
Boomers wouldn’t apply…they’re not that stupid.
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Posted: 4/8/2023 7:11:37 PM EDT
[#38]
Paying rent on credit is retarded because they charge you 3%.
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Posted: 4/8/2023 7:22:59 PM EDT
[#39]
Quote HistoryQuoted: Why does nobody read anything? Quote HistoryQuoted: Quoted: Rent is $1000 Want to pay with a card? No problem! Rent is $1087 Enjoy your $5 reward perk Why does nobody read anything? Uh, we don't understand the legalese that you speak. I am a pain in the ass towards this kind of shit. I am famous in the.... Nevermind |
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Posted: 4/8/2023 7:29:13 PM EDT
[#40]
Quote HistoryQuoted: Well, we can see who doesn't understand credit cards, or this particular product. What if you use a card every month and paid in full every month? What if the Bilt card offered to pay their partners without a transaction fee? (this is their "gimmick") What if I told you that a service called Plastiq let's you pay your mortgage or other payees for a small fee, and you could use any of a bunch of other credit cards (whether it is a no fee card depends on you)? But Plastiq charges 2.5% making it not worth it. @GTLandser |
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Posted: 4/8/2023 7:29:30 PM EDT
[#41]
Who needs points when one owns the home 100% and is completely debt free?
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Posted: 4/8/2023 7:32:10 PM EDT
[#42]
Quote HistoryQuoted: Paying rent on credit is retarded because they charge you 3%. THE ENTIRE SELLING POINT OF THE CARD IS THAT THEY DON'T CHARGE A FEE TO PAY RENT. RTFL in the OP! Yes the card isn't accepted by all payees; if your LL isn't one of them, the card probably isn't for you. Yes you need to make 5 total transactions in a month. You could buy 5 packs of chewing gum and you would still qualify. Yes if you carry a balance you would be charged interest (like all other credit cards, and if you carry a balance you are a moron and interest is the idiot tax). 
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Posted: 4/8/2023 7:33:27 PM EDT
[#43]
Quote HistoryQuoted: Uh, landlords don't take credit cards. Uh, that includes Venmo BTW. PAY ON TIME BY CHECK OR WIRE TRANSFER ONLY. Yes they do gramps. A lot of rental places use services that accept credit card now. If you have the option and don’t have to pay fees, you’d be foolish NOT to pay with credit card and pay it off every month. Given rent costs anymore that’s a lot of rewards. |
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Posted: 4/8/2023 7:35:17 PM EDT
[#44]
Quote HistoryQuoted: It says they send a check on your behalf. So, how do they make money if they can't charge a merchant fee to a landlord that only takes checks? My guess is the card company treats the check like a ‘cash advance’ and charges the card holder extra for it. |
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Posted: 4/8/2023 7:40:00 PM EDT
[#45]
Quote HistoryQuoted: My guess is the card company treats the check like a ‘cash advance’ and charges the card holder extra for it. well you'd be wrong. |
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Posted: 4/8/2023 7:50:06 PM EDT
[#46]
 Attached FileI don't pay rent. I own my home free and clear Gen Z  You deserved this for your post  just busting your ball brother  I didn't know you couldn't pay rent with a credit card. I know a few here that pay with a credit card. They have it linked through an online app of some kind, I think. 
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Posted: 4/8/2023 7:56:35 PM EDT
[#47]
Quote HistoryQuoted: Yes they do gramps. A lot of rental places use services that accept credit card now. If you have the option and don’t have to pay fees, you’d be foolish NOT to pay with credit card and pay it off every month. Given rent costs anymore that’s a lot of rewards. I agree, I pay all my bills using a credit card, including groceries. So I can get the points. If I had rent, I'd use a credit card also. The only time I use a debit card is at the banks ATM. |
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Posted: 4/8/2023 8:57:47 PM EDT
[#48]
Quote HistoryQuoted: How do you pay a mortgage with a reward card? I have a mortgage, and a reward card, and I want the points. Quote HistoryQuoted: Quoted: OP makes fun of boomer who have been paying for everything, including their mortgage or "rent" with reward credit cards for years, and he is just now figuring that out now. How do you pay a mortgage with a reward card? I have a mortgage, and a reward card, and I want the points. Go on the website of the mortgage loan, put in the numbers to your credit card. mine takes it. they don't care as long as they get paid. Could be not all credit cards are accepted, could be your credit has to be excellent, could be not all mortgage loan companies will accept a credit card, but mine does. |
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Posted: 4/8/2023 8:58:02 PM EDT
[#49]
double tap
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Posted: 4/8/2023 9:20:54 PM EDT
[#50]
If you can pay your rent via CC, you should be getting cash back anyway.
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