During these COVID times, rent payment using credit card rhas become a thriving segment for banks and rent payment platforms. Not only have many platforms come up for rent payment using credit card in the last few months, but also many credit card issuers have introduced multiple offers for rent payment. Check out the best platforms for rent payment using credit cards here.
Let’s have a look at the best ongoing rent payment using credit card offers.
Rent payment using Credit Card offers on RedGirraffe
RedGirraffe is probably the oldest and the best rent platform out there. Personally have used RedGiraffe for 2-3 years now. Currently, there are 4 credit card offers ongoing on the platform.
Citibank RedGirraffe offer
Citibank is offering a cashback of up to INR3,000 on rent payment using their credit cards on RedGirraffe. Over the offer period, it turns out to be a cool 5% cashback on rent payment. One has to enroll before 12th Dec and make rent payment of minimum 20,000 for the next 3 months consecutively to get the maximum benefit. The way it works is, you get INR750 cashback on first month’s rent payment; INR 1000 cashback on second month’s rent payment and INR1250 on third month’s rent payment. However, do note that Citibank no longer gives reward points for utility bill payments and thus will not receive reward points on these transactions.
HSBC RedGirraffe Offer
On rent payment using credit card on RedGirraffe, HSBC is offering 5 days of rent as cashback. For example, if the rent monthly rent is INR20,000, then after paying rent for 4 consecutive months using HSBC credit cards, cashback would be 5/30*20000 = 3333. Since HSBC gives reward points for utility payments, I assumed that if one uses HSBC Visa Platinum card, then an effective reward rate would be 4.5% during the offer period, which is quite impressive.
Payzapp RedGirraffe Offer
Well, this is not a new offer as Payzapp has this offer going for a very long time. If one makes rent payment using Payzapp and uses the promo code “BILLPAY” one gets a cashback of 5% (up to 150) every month. The reward rate is quite low at just 0.7%. However, this is just the base reward rate; depending on the credit card you are using, your reward rate could be significantly higher. Payzapp accepts all credit cards except Amex.
I am using the “BILLPAY” promo code on Payzapp for my utility bill payments (Electricity and Gas) for more than a year now. Have never used it for rent payment though.
I have excluded Yes Bank offer from the above comparison. Reason being, Yes Bank is offering only one-time 1000 reward points (~INR 150 value) for setting up rent payment as standing instructions which is very pathetic. For Yes Bank cardholders, I rather suggest that they use Payzapp offer on RedGirraffe as they will earn INR150 every month instead of just one-time.
Rent payment using credit card offers on NoBroker
Payzapp NoBroker Offer
Payzapp is offering a cashback of 5% (up to INR500) on rent payment using Nobroker. This offer has been going on for a few months now, however, typical of HDFC Bank; the offer is extended by only one month at a time. Hopefully, they will continue to extend this offer for the foreseeable future :D.
Similar to Payzapp RedGirraffe offer, one can use any MC/Visa/Dinersclub credit card to make the payment. If one owns a credit card that gives reward points on wallet load or utility payment, this is the best offer for rent payment at the moment (except for HDFC Millennia credit cardholders). As one gets the reward points on credit card coupled with INR500 cashback on Payzapp.
Payzapp Millennia Nobroker offer
The Payzapp Millennia offer is an extension of Payzapp Nobroker offer where one gets INR500 cashback on Payzapp. Plus, if the HDFC Millennia credit card is used, you get an additional 5% cashback of up to INR750 on the card directly. Thus resulting in a cool INR1,250 cashback. Further, I assume, you get 2.5% rewards points on Millennia credit card as this transaction will be classified as online spends. Giving a whopping 8.4% reward rate.
While I still believe, RedGirraffe is the best rent payment using credit card platform given their low charges. However, at present, offers from NoBroker makes it a more compelling platform for rent payment. At the moment, even I am using NoBroker with Payzapp and paying rent via my Dinersclub Black card; in turn, earning a cool 5% reward rate. J
Do let me know which credit card you use for rent payments.
In the interest of full disclosure, Credit Cardz may earn a referral bonus for anyone that’s approved through some of the links in this post. However, opinions and views expressed here are of the author's alone and not those of the bank, credit card issuer, or anyone else and have not been reviewed, approved or otherwise endorsed by any of these entities.