Has anyone try this service
https://rentalrewards.com.au
It looks like allowed you to pay your rent with CC to get points or rewards. Any caveat?
Paying Rent via CC to Get Points
herysoe on 27/03/2019 - 19:49
Related Stores
Comments
I used to pay rent through them. They charged a %, I think 1.xx% from memory. Not too bad value though considering points can't be bought cheaper than around 1 cent per point and risk having your balance forfeited and account closed. Points earned through this method are completely legitimate.
I find that points these days are worth about a 0.35% surcharge, more than that and you're effectively losing money. Points have massively decreased in value the last few years.
You can sell 100 points for at least $1 so they're worth at least a 1% surcharge.
Depends on what points you mean I guess, I double checked and I can only get 45c ish and 1.25 points per $1 spent, so actually just under 0.57%.
That’s using the points though, cannot sell them, just not a thing.
Amex was much more but so’s the surcharge.
Depends what points you're earning. For QFF certainly you can, for something like CBA points, you'd be lucky to get 200 points for $1!
Convenience fee of $2.20 per BPAY Transaction OR 0.5% of transaction value for Bank Account transactions OR 1.45% of the transaction value for
MasterCard /Visa OR 2.65% of transaction value for American Express/Diners Club
Am trying to work out what the point of this service is if you are going to fund it from your bank acc or bpay
Idea is that most rent payment don't accept CC payment, even though you can pay via bpay. So this site let you do that to earn CC points.
But their business model is bit crap, if they charging fee of $2.20 per BPAY Transaction or so on.Yeah i totally get that.
Use your credit card and if the fee is worth it for you BONUSBut there is no point using their $2.20 service where you pay them from your bank account and then they in return pay your bill, when you could simply pay the bill directly using your bank acc
Simply dont get it
@Samsungnote10: It's forced upon you by property managers, as they don't want the "hassle" of checking if your money has gone into their bank account. For most of them there is actually a way to pay for free, that they don't like, but its what I did when renting.
@brendanm: That is just plain frigging lazy from the agent.
If my agent refused to even find my payment, id be making their job twice as difficult@Samsungnote10: Yes it is, absolutely ridiculous. The last agent I was with whined because my rent wasn't going into their account, after having gone through the intermediary, on the day the rent was due. I had to explain to them that the rent only has to leave my account on the due date, not arrive on theirs. I also explained that as we were with the same bank, they could have it same day if they simply allowed bank transfer. They refused. One of many stories of agents have no clue, or simply ignoring rental laws.
for AMEX looks cheaper than DEFT (3.3%)
If you read the terms and conditions you need to pay a “convience fee” which they seem to have “conveniently” hidden somewhere in the site and I can’t find how much this will cost you every month.