uma_williams•1mo agoProlific Poster

Tried paying my rent with a credit card to get points and got hit with a 2.99% fee that wiped out all the rewards

So I thought I was being clever last month here in Chicago, put my $1,800 rent on my card thinking I'd rack up some nice cash back. Landlord uses one of those online portals. When the statement came I did the math and realized the $53.82 fee was more than I earned in points. Basically paid extra for nothing. Has anyone found a card or workaround that actually makes this worth it?

3 comments

3 Comments

patricia_gonzalez1mo ago

Oh wait, that math doesn't quite add up. 1,800 times 2.99% is actually about $53.82 for sure but if you got 2% cash back on that you'd earn $36 so you're still losing money.

avery2191mo ago

Saw a finance article that said running your rent through a card just helps the credit card companies in the end.

the_anthony1mo ago

That math is basically the landlord's version of a participation trophy where you're the one paying for the trophy. You'd need a card giving at least 3% back just to break even, and even then you're jumping through hoops for zero gain. Only way it works is if you've got a signup bonus to hit or you're desperate to float the payment a month.