Should a credit card be used to pay house rent?

Home rent payment is one of the biggest expenditures of our living. They can be subsequently paid according to the terms of the agreement. But if this does not happen, you can also consider the option of pay home rent through credit card.

Many people have lost their jobs and many people have been in salary cuts. That is why our first advice is to use credit cards wisely for home rent payment so it does not affect your finances.

The lockdown implemented in the country to deal with coronavirus has been extended for another 2 weeks. Now ending on May 3, the Corona lockdown has increased to May 17.

Is it good or bad to pay home rent through credit card

Due to which it has become difficult for the people living in the city to run the house. For those who are living on rent, this difficulty has become double. In such a situation, the payment of a credit card will be more of a burden on them. In view of this, these banks have taken this step. By reducing the credit card limit by banks, customers will be able to use it less. Apart from credit cards, banks have also started reducing the limit of personal loans.

pay rent through credit card
wallet credit card (Photo credits jarmoluk)
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All this is good, but when it comes to paying the credit card bill, the budget of the good gets spoiled. Well, now we have swapped, so the bill has to be paid. So here we are going to talk about paying the home rent through credit card.

How good is to pay rent for a home with a credit card

Meanwhile, the facility of paying rent by credit card has also been launched. After which people will now be able to rent with a credit card. Real estate portal Housing.com has launched the ‘Pay Rent’ feature on its mobile app. Through this, rent can be transferred through a credit card. Through this, users can transfer the rent to the bank account of the landlord and also get a digital receipt.

Speaking about this facility, Dhruv Aggarwal, Group CEO of Housing.com, Makan.com and PropTiger.com said in a press release that rent is usually the biggest expense of the month for people. Housing.com’s platform ‘Pay Rent’ allows users to maintain liquidity for the next few months if needed. They can transfer the rent with a credit card, as it allows flexibility in repayment. Housing.com is not the only company.

You can also pay through UPI and debit cards

Property site Nobroker.in has also given the facility to pay rent through credit card. Presently Housing.com is offering this feature only on the app. Apart from credit cards, tenants can also pay their rent through UPI and debit cards. It would be nice if the landlord gives you some time to pay the rent.

Conclusion:

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There has been a huge downfall in the economy, due to which many companies are cutting their salaries and many are being fired. You can get relief for some time by paying the credit card fare, but this relief will end in a month or 45 days because then you will have to pay the outstanding amount on the credit card as well. Even if you take advantage of the EMI facility, the interest will have to be repaid. So it is advised to use a credit card wisely so you can use it for your home rent payment.

SACHIN AHIRWARhttps://personal-finance.in/
Hey, I’m Sachin. I’m a Blogger living in India. Guide for Personal Finance Planning & financial planning, Tax, Investment, Managing Money, Insurance, Retirement, Real Estate and Loans & more.

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