Are you looking for ways to pay your rent without spending an amount from your salary or the bank account for the current month? Well, if, yes, then you’ve come to the right place. Paytm has introduced ways to pay rent with credit card online and send the money directly to your recipient’s bank account. Isn’t it something that you have always needed?
Now, are you thinking of how it is possible?
Let’s find out everything you need to know about transferring rent using a credit card to a bank account.
There can be many reasons as to why you would like to pay your rent through a credit card. Some of them being- improving your credit score, getting cashback and loyalty rewards, meeting your annual credit card spend limit or maybe just a delayed salary this month. No matter what the reason may be, you can now pay your rent with a credit card, but how?
The answer to this question is – Paytm. With Paytm’s new rent payment feature, you can pay your rent with your credit card. But how? Let’s find that out!
How to Pay Rent with a Credit Card on Paytm?
It is very easy to pay your rent on Paytm using your credit card. Just follow these simple steps-
- Open the Paytm mobile application and go to the ‘Recharge & Pay Bills’ section
- Search for the ‘Rent Payment’ service and tap on it
- Choose where you want to send the money – to your recipient’s bank account or the UPI ID
- Enter the bank account details or the UPI ID of your recipient
- Click on ‘Proceed’ and select ‘Credit Card’ as the mode of your payment
- Enter your card details and complete the payment
Once you make a payment, you will receive an email and an SMS to confirm your payment. The money will be transferred to your recipient’s bank account within two days.
Why Should I Pay Rent with Credit Card?
There are many benefits of paying your rent with a credit card, some of them are mentioned below:
- 45 Days of Free Credit Period: There are no credit charges within the first 45 days of paying the rent. However, if you pay your credit card bill before that, you won’t attract any charges for that either
- Earn Reward Points on Credit Card: Your monthly rent can be a big amount and therefore, using your credit card to pay rent can attract reward points and cashback
- Improve your Credit Score: Using a credit card for paying rent regularly and paying the credit card bill on time can improve your credit score
- Meeting Your Annual Credit Spend Limit: A lot of credit card users face the problem of not being able to meet the annual spending limit of their credit cards. By paying the rent with your credit card, you can easily meet your annual spending limit.
Why use Paytm to Pay Rent?
You can pay rent for your house, shop, pay your broker and even the token amount at Paytm. It offers many additional benefits to the users for paying rent on the portal. That makes the overall experience of the users even better for paying their rents online. Here are some of the benefits of using Paytm for paying rent through a credit card-
- Lowest transaction fee: Paytm only charges 1% of the rent amount when you choose a credit card as the mode of payment. This is the lowest transaction fee in the market for using credit cards to pay rent. There are no transaction fees for using any other payment mode than credit cards
- Secure, transparent & instant payments: Paytm offers a highly secure, transparent & instant payment mode for your rent with the highest success rate of online payments among all the payment portals
- Additional cashback & Offers: With every payment, you get a chance to win additional cashback and offers for your future transactions
- Track Payment History: You can track your rent payments through the ‘Payment History’ section on the Paytm mobile application
- Easy Dashboard: Manage recipients easily with an easy and interactive Rent Payment Dashboard on the Paytm mobile application
You may find yourself in a situation where you would want to pay your rent using a credit card. It may be due to a delayed salary, improving credit score or winning cashback to save on the rent. No matter the reason, you can simply log in to the Paytm mobile application and pay your rent using a credit card. More than that, you can also send the rent amount directly to your recipient’s bank account.
Making rent payments on Paytm through credit card will help you unlock many benefits-
- Enjoy cashback offers from Paytm that allow you to save on every rent payment
- Earn reward points, cashback or air miles from your card issuing bank
- Enjoy an interest-free credit period of up to 45 days as per your billing cycle
- Achieve your credit card milestones of fee waiver and bonus rewards