Rent payment being a major expense for most of us, it is always great if there are offers that allow us to save some money on it. Below are the ongoing rent payment offers on credit cards. I have been personally using credit cards to make rent payment for a few years now. Last year I had compared rent payment platforms here.
Rent payment offers on credit cards
Axis Bank Rent Payment Offers
Axis Bank credit cards have ongoing rent payment offers on Nobroker and Cred. The offer on both the platforms is identical. You get 3X reward points on paying rent thru these platforms. However, not all Axis Bank credit card are eligible and only the ones mentioned in the table below are eligible. Further, making payment thru Payzapp wont give 3x reward points on Axis cards, i.e. no possibility of double dipping here.
BoB Rent Payment Offers
BoB credit cards have rent payment offers on Magicbricks and Cred where it offers cashback of 1000 and 1500 respectively. The catch here is one has to pay rent for 3 consecutive months to avail the offer. However, the good thing with BoB offer is low minimum threshold – 10000 with Magicbricks and 15000 with Cred. The reward rate is also quite good. If you are using BoB Select credit card the reward rate comes at ~3.5%. However, if one were to use BoB Eterna, the reward rate would be 4%+.
These sort of offers (pay rent for 3 consecutive months) seems to quite common with card issuers as Citibank, HDFC and HSBC also have similar offers.
Citibank Credit Cards
Citi credit cards’ rent payment offer on Redgiraffe and Cred is similar to that of BoB’s offer. Just that cashback is much higher at 3000 in case of Citibank. In case of Redgiraffe, for minimum rent payment of 20k per month for 3 months you get 3k. This is a whopping 5% cashback. In addition, if you were using Citi Premiermiles credit card then the reward card would be around 7%. Even in Cred, the reward rate is pretty handsome at 5.8%.
Dinersclub credit cards
Dinersclub credit cards are offering 2x reward points on rent payment thru Cred. This offer appears exciting but it is good only if you have Diners Black credit card wherein the reward rate is 6.6%. If you don’t have Diners Black, consider this offer only if your rent payment is over 25k. Below that, you will be better off using Diners credit cards in conjunction with Payzapp offer of 350 cashback on Nobroker.
HDFC Bank Credit cards
HDFC Bank apart from running rent payment offers on Dinerclub credit cards and Payzapp is also running offers on its cards on Nobroker. The offer is very similar to BoB and Citibank; pay rent for 3 months and get cashback. In this case, the cashback is in form on vouchers (Flipkart/ Amazon/ Max Fashion/ Myntra).
However, there is catch. This offer is not applicable if the card is used to make rent payment on any platform, such as CRED, NoBroker, Housing.com, Magic Bricks, PayTM, in the last 7 months. Further, add-on cards are not eligible if the primary card has been used to rent payment earlier. Additionally, you are not eligible for the offer if the card is now renewed/ reissued/ replaced/upgraded and the old card was used for rent payment. Thus it seems like HDFC Bank is getting good at plugging the loopholes in their system.
Nonetheless, if you are eligible for this offer, then there is chance for double dip. Pay your rent using Payzapp on Nobroker. Get the 2021 vouchers plus 350 cashback offer on Payzapp.
HSBC credit cards
HSBC has been running this offer for almost a year now. One has to make 4 consecutive rent payment on Redgiraffe using HSBC credit cards and one can get 5 days of rent as cashback (upto 5000). On a minimum rent payment of 20k per month this offer gives cashback of 4% plus the regular reward rate. So say around 5% reward rate which is quite good compared to others.
What I am not sure is can someone avail the offer again if he has availed the offer earlier. HSBC card holders can shed more light here.
ICICI Amazon Pay Credit Card
ICICI Amazon Pay credit card is one of my favourite free for life card and its good to see that card issuers are giving good rent payment offers on free for life credit cards. This credit card is running rent payment offers on Nobroker and Magicbricks. Again, offers on both the platform is identical with 200 cashback. However, the minimum rent payment limit on Magicbricks is lower at 20000 vs 25000 for Nobroker.
Payzapp Rent Payment offer
Payzapp is running an identical offer on Nobroker and Magicbricks, wherein one can get upto 5% cashback (max. 350) on rent payment thru Payzapp. The good thing with Payzapp offer is one can use any Visa, Mastercard or Diners credit card to claim the offer. However, the cashback of 350 is very low and if your rent is above 20k per month then the reward rate is just around 2%. Further, be mindful that you need to share the rent agreement to get cashback if paying rent on Magibricks.
American Express credit card
If you are using Amex credit cards, then none of the offers mentioned above are of any use. Since, hardly any rent payment platform accepts Amex. Last year, when Cred RentPay started they were accepting Amex credit cards, but now even they have stopped it. However, I figured out that currently Mobikwik allows rent payment thru Amex credit cards. Mobikwik charges 1.77% for the service and there are no ongoing offers.
Rent payment offers conclusion
This seems to be the best time to pay rent using a credit card; with the ongoing offers you can save easily around 5% every month of your rent. From the current offers, I find Citibank’s offers on RedGiraffe & Cred to be most lucrative for rent payment.
Do you use credit cards to pay your rent? Which credit card and platform combination you use? Have I missed any ongoing rent payment offers? Do let me know in the comments section below.