We often use credit cards for everyday purchases, so why not use them to earn rewards on one of your largest monthly expenses–rent? The good news is that paying rent with a credit card is not only possible but a smart way to get rewarded for your monthly payments. However, since many landlords don’t accept credit card payments directly, how can you pay rent this way? 

Fortunately, platforms like Chexy make it easy to pay rent with your credit card, earn rewards, and even build your credit score. In this guide, we’ll cover:

• How to pay rent with a credit card

• The pros and cons of using your credit card for rent

• Whether it’s worth it for you

Can I Pay Rent with a Credit Card?

Platforms like Chexy allow you to pay rent with a credit card in Canada, even if your landlord doesn’t accept credit card payments. Chexy is a rental payment platform for tenants where you can pay rent with your debit or credit card and earn rewards. These points or cashback rewards can help offset the cost of living and even get you free flights, hotel stays, and travel upgrades. 

If you have an airline or travel rewards credit card, you can earn points or miles on every dollar, eventually getting you free flights. On the other hand, you can earn cashback on your rent if you have a cashback credit card. 

Now, Chexy does have a fee, but it is quite minor compared to other payment processing services. Check out the Chexy Rewards Calculator to see how multiple credit cards stack up against your rent payments. 

With the right strategy and credit card, you can earn rewards and essentially waive the fee–we’ll get into that below. 

How Do I Pay Rent With a Credit Card in Canada?

With Chexy, you can use a Canadian or international credit card to pay your rent. All you need to do is sign up for Chexy and input your details and credit card information. Your rent payments will automatically be charged to your card each month and sent to your landlord on rent day. 

Essentially, here’s how you can pay rent through a credit card with Chexy:

1. Chexy charges your credit card 4 business days before rent is due.

2. On rent day, the funds will automatically be sent to your landlord via Interac e-Transfer, or they can withdraw via pre-authorized debit (depending on which payment method you set up).

3. Once the payment has been processed and is no longer pending on your credit card, you earn rewards or cash back. 

Here are some real-life examples of how you can earn points and up to 4% cash back by paying rent with your credit card:

Example #1:

Let’s say your monthly rent is $2,000. With the Scotia Momentum Visa Infinite Card, you can earn 4% cash back on recurring payments (including rent!). 

You’ll earn $960 cashback per year. After the Chexy and annual fees, you’ll get $540 in net cashback per year. That’s enough for multiple free grocery strips or even a round-trip flight to Europe (if you’re strategic)!

Example #2:

With the American Express Aeroplan Reserve Card, you can earn 1.25 points per dollar. 

With a monthly rent of $2,000, you’ll earn 30,000 Aeroplan points, equivalent to about $630. Excluding the Chexy and annual fees, you’ll get $210 in net rent rewards per year. 

If you want to see how multiple credit cards stack up with Chexy and which one you should use, check out the Chexy Rewards Calculator. 

Chexy does charge a fee, but it is lower than many other payment processors. Chexy fees are: 

• 1.75% for Amex and Visa cards

• 2.5% for international credit cards

• Free for debit cards 

Here’s how to pay rent with a credit card without fees (for one month): 

If you apply for a new credit card through Chexy, you can get the 1.75% processing fee waived for one month! 

Photo by Jakub Żerdzicki on Unsplash

Pros and Cons of Paying Rent Through Your Credit Card

Here are the biggest advantages and the few downsides of paying rent by credit card in Canada: 

Pros

Earn Rewards: You earn rewards (cashback, points, or miles) on all your rent payments. Sometimes, you can earn more points in the recurring payments category. Plus, some credit cards offer generous welcome bonuses. 

Credit Building: Opt into Chexy’s Credit Builder to report your rent payments to Equifax, one of Canada’s biggest credit bureaus. On top of that, using a credit card to pay your rent alone will build credit (as long as you pay your statement balance in full every month). 

Rent Splitting: If you live with roommates, Chexy will add up everyone’s share of the rent and send it as one payment to your landlord. No more chasing roommates for late rent payments!

Flexible Payment Options: Your landlord can receive rent payments in one of two ways: Interac e-Transfer or pre-authorized debit. 

Automatic Payments: Once you set it up, you never have to worry about paying rent on the due date again. Chexy automatically charges your card and sends the payment to your landlord on rent day. 

No Landlord Participation Needed: Your landlord does not need to complete any verification checks, eliminating the need to talk to them about using Chexy. 

Cons

Fees: Chexy fees are 1.75% for American Express and Visa cards and 2.5% for international credit cards. However, if you use a higher-tier credit card and earn rewards, it will offset these fees. Fees can also be waived for one month if you sign up for a credit card through Chexy! 

It Could Hurt Your Credit Score: If you do not pay your credit card balance in full on the due date each month, you will be charged interest and it could hurt your credit score. 

Is Paying My Rent with a Credit Card Worth It? 

Here’s what you need to consider when deciding whether or not to pay rent with a credit card:

Do the rewards outweigh the fees?

You’ll need to choose a credit card that earns rewards high enough to offset the fees. For example, with the TD Aeroplan Visa Infinite Privilege Card, you can earn 30,000 Aeroplan points per year with a rent of $2,000.

The value of each Aeroplan point is about 2.1 cents per point when used for travel, which means you’ll earn about $210 in net rent rewards per year after Chexy fees. Combine this with your everyday spending and generous welcome bonus, and you’ll be well on your way to redeeming points for free Air Canada or partner airline flights. 

Since Chexy charges a 1.75% fee, you’ll need a credit card that offers at least 2% rewards to bring in some cashback and offset the fee. Otherwise, it’s not worth it. 

Will I get a welcome bonus?

Credit card companies usually offer a generous welcome bonus for signing up and spending a certain amount of money within the first few months of card membership. Look for a card with a high signup bonus, but make sure you can reach the spending threshold with your rent and other expenses you put on your credit card. 

Hint: Stay up-to-date on new credit card welcome bonuses by subscribing to our weekly newsletter. 

For example, at the time of writing, you can earn up to 60,000 Scene+ points with the Scotiabank Platinum American Express Card if you spend at least $3,000 in the first 3 months and $10,000 in the first 14 months. You can hit that spending requirement just by paying your rent with Chexy, easily earning 60k points plus the normal 2 points per dollar on everything. 

Can I pay off my credit card in full every month?

The key to making paying rent with your credit card worthwhile is always using it responsibly—just as you would if you weren’t using it for rent. This means paying off your credit card balance in full by the due date each month. Treat your rent payment the same way you would treat any other essential expense, and make sure it’s covered in your budget. 

By paying off your credit card balance on time, you avoid interest charges and late fees that can wipe out the rewards you earn. When used correctly, credit cards are powerful tools—they can help you build your credit score, earn valuable rewards, and take advantage of perks. But they require discipline. Keeping track of your spending and paying off your balance regularly ensures you’ll reap the benefits without financial stress.

In a nutshell, if you use a high enough tier credit card that earns you rewards that outweigh the fees and use your credit cards responsibly, you should use Chexy to pay your rent with a credit card. 

Get started with Chexy today. 

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