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Maximise rewards with credit card rent payments: Here's how

07 Aug 2024 by Team FinFIRST

credit card rent payment

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Paying rent is often the largest monthly expense for many. Do you ever feel like your rent payment is a giant money pit, offering nothing but a roof over your head? What if you could turn that monthly expense into a tool for earning rewards and streamlining your finances?

Considering a credit card for rent payments can be a game-changer for maximising rewards and benefits, and managing finances. Let’s figure out how!

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What is rent payment in credit card and its benefits

You can pay your rent online using a credit card instead of cash or cheque. All you need to do is register, provide your landlord’s bank details, and you're done! You can also give standing instructions to debit the amount automatically from your credit card on the set date.

While this might seem unconventional, it can be a smart strategy. Here’s why –

Earn reward points

Using a credit card for rent payments can help you earn reward points, cashback, and other incentives. Each rupee spent on rent contributes to accumulating rewards, turning a routine expense into a rewarding opportunity.

Manage cash flow

Credit cards provide a grace period of 30–45 days. You can use this period to your advantage and manage your cash flow better. It helps salaried individuals who might receive their income after the rent due date.

Build credit history

Regularly making rent payments through a credit card can improve your credit score, which can benefit you in the long run when applying for credit. Consistent, timely payments show lenders that you manage your finances responsibly.

Introducing the FIRST SWYP Credit Card for rent payments

The Metra Trust FIRST SWYP Credit Card is a great alternative for those who are looking to leverage the benefits of credit cards smartly. Here’s why it stands out –

Reward points for rental spends

When you pay rent with the FIRST SWYP Credit Card, you earn –

- 400 reward points monthly for rent and utility payments of ₹20,000 or more

- 2000 reward points worth ₹500 when you spend ₹5,000 when you pay rent in the first 30 days of card issuance

- 200, 500, and 1000 reward points for monthly spends exceeding ₹5,000, ₹10,000, and ₹15,000, respectively

This can significantly boost your rewards earnings if you consistently use your credit card for rent payments.

Extensive discounts & offers

Apart from these massive reward points for using credit for rent payments, you can get –

- Instant discounts at various merchants, including Zomato, Dominos, Sugar, EaseMyTrip, Tata CLiQ, and many more

- 1% fuel surcharge waiver up to ₹200 per month

- Four complimentary railway lounge access per quarter

- 25% discount on movie tickets

- Complimentary roadside assistance worth ₹1,399

- 100 reward points for every ₹5,000 UPI spend

Practical tips for using your credit card for rent payments

To maximise benefits, consider these tips –

Choose a credit card that offers rewards for rent payments, like FIRST SWYP Credit Card
Consolidate your other expenses on the same card to maximise points
Pay your balance in full and on time to avoid interest charges
Time your rent payments to maximise the time you have to pay off your credit card bill
Take advantage of sign-up bonuses and introductory offers to boost your rewards

The takeaway

Using the FIRST SWYP Credit Card for rent payments can transform your biggest expense into a tool for earning rewards, simplifying finances, and enjoying additional benefits. So ditch the traditional rent payments and start swiping your way to smarter spending today!

Disclaimer

The contents of this article/infographic/picture/video are meant solely for information purposes. The contents are generic in nature and for informational purposes only. It is not a substitute for specific advice in your own circumstances. The information is subject to updation, completion, revision, verification and amendment and the same may change materially. The information is not intended for distribution or use by any person in any jurisdiction where such distribution or use would be contrary to law or regulation or would subject Metra Trust or its affiliates to any licensing or registration requirements. Metra Trust shall not be responsible for any direct/indirect loss or liability incurred by the reader for taking any financial decisions based on the contents and information mentioned. Please consult your financial advisor before making any financial decision.

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