Think about how much you spend every month on bills like streaming services, your gym membership, internet, and your phone bill. It’s quite a lot…right? Now, picture turning those expenses into rewards.

With Chexy Wallet, you can unlock valuable rewards like cash back, travel points, or miles while automating your bill payments and simplifying your financial routine. Let’s dive into how you can pay bills with your credit card, why you should do so, and the top credit cards to use for recurring payments. 

Note that Chexy Wallet is currently only available to active users paying rent with Chexy.

Can You Pay Bills with a Credit Card?

Yes, you can. You can pay all your bills with a credit card in Canada with Chexy. Previously with Chexy, you could only pay rent with your credit card, but with the introduction of Chexy Wallet, you can now pay bills with your credit and earn rewards. Everything is done on the same dashboard, making it easy to track expenses and bill due dates. 

Some bills you can pay with your credit card include:

• Internet

• Phone bill 

• Tuition

• Gym memberships

• Streaming subscriptions

• Insurance 

• Car lease 

• Daycare 

• Strata and condo fees 

• Locker fees 

• Parking 

Note: The only bills you cannot pay with your credit card are mortgage and loan payments, but we are working to make this happen soon! 

As of now, Chexy Wallet supports just one card for all your subscriptions, but this will also change coming soon. 

How to Pay Bills with a Credit Card in Canada 

Opting into Chexy Wallet allows you to pay bills with your credit card. However, you must be an active user already paying rent with Chexy. 

To pay bills with Chexy Wallet, here’s what you need to do:

1. Log in and add your subscriptions. Click the “Add more subscriptions” button on your Chexy Dashboard. 

2. Enter your subscription information. Enter the payee, amount, and due date for each bill. 

3. We will charge your card 4 business days before the due date (just like rent) and pay it using your preferred payment method (Interac e-Transfer or pre-authorized-debit). 

The fees for paying bills with your credit card using Chexy Wallet are the same as rent payment fees:

• 1.75% for Visa and American Express

• 2.5% for international credit cards

Why Pay Bills with a Credit Card?

Here are some of the many reasons why you should pay your bills with a credit card:

Earn Rewards: A Case Study

Like rent payments, you can earn rewards by paying your bills with a credit card. You could earn points, miles, or cash back that you can put toward savings, free flights, or travel upgrades. 

Let’s say you use the Scotia Momentum Visa Infinite Card, which gets you 4% cash back on recurring bills. 

Monthly car payment: $500

Phone bill: $100

Internet bill: $80

Total: $680

After Chexy fees, you’ll earn about $15.30 in cash back each month, or $183.60 per year. Now, this is a big step up from paying bills the “normal” way through bank transfer or any other method, where you don’t earn any rewards at all. 

By getting cashback on your bill payments, you’re essentially making your expenses cheaper, allowing you to use it on other things, like rent payments. 

Automatic On-Time Payments 

With Chexy, all you need to do is set up your bill payments once, and you’re good to go. Your credit card will automatically be charged four business days before the bill is due and sent to the payee on the due date. 

You never have to worry about missing a due date or keeping track of multiple bill payment dates. You can update your bill payment details in your Chexy Dashboard if you need to change the amount or due date. 

Easy Expense Tracking & Simplified Payments

You can easily track your expenses and monthly bill payments by paying most of your bills on one credit card. Most, if not all, of your household expenses will be paid from one easy-to-use wallet. 

Build Credit 

Paying your recurring bills with a credit card and consistently paying off the balance in full each month can positively impact your credit score over time. The credit bureaus will see that you can manage your credit responsibly, as you’re actively using your credit card while avoiding taking on interest and debt. 

By maintaining good credit usage, you build a strong payment history, one of the top factors in determining your credit score. 

Top tip: Set up automatic credit card payments from your bank account to ensure seamless, automatic payments. 

What Bills Cannot Be Paid with a Credit Card?

You can pay almost all bills with your credit card using Chexy Wallet; however, two types of bills aren’t accepted:

• Loans or Mortgages: Currently, we do not accept loan or mortgage payments via credit card, but this feature is coming soon.

• Variable Bill Payments: We do not accept bills with an irregular billing cycle or when the payment amount differs in each payment cycle (i.e., hydro and some phone bills). Only monthly bill payments are supported at this time. 

Best Cashback Credit Cards for Recurring Bills in Canada

Here are two of our top picks for the best cashback credit cards to pay recurring bills with: 

Scotia Momentum Visa Infinite Card

The Scotia Momentum Visa Infinite is hands-down the best cashback credit card in Canada for paying rent and recurring bills. You can get 4% cashback on recurring bills, up to $25,000 annually. 

You can also earn:

• 4% back on groceries 

• 2% back on gas and daily transit

• 1% on everything else 

This credit card also comes with travel insurance coverage and access to Visa Infinite benefits. 

TD Cash Back Visa Infinite Card

You can get 3% cash back (up to $15,000 annually) by paying recurring bills with the TD Cash Back Visa Infinite Card. You can also earn: 

• 3% back on grocery and gas purchases

• 1% back on everything else 

In your TD account, you can redeem your Cash Back Dollars anytime, without waiting until the end of the year, as you do with most other cash back credit cards. 

With this card, you also get Visa Infinite benefits, travel insurance, and a free Deluxe TD Auto Club membership. 

Best Points Credit Cards for Recurring Bills

Two of the best credit cards that get you points or miles for recurring bills are:

American Express Aeroplan Reserve Card

The American Express Aeroplan Reserve Card gets you 1.25x Aeroplan points for every dollar you spend. This card is for you if you are a big Air Canada traveller.

Along with the 1.25x points on every dollar, you can earn:

• 3x the points on Air Canada purchases

• 2x the points on dining and food delivery 

Although it has a high annual fee, the rewards far outweigh the downsides. A few benefits include unlimited access to the Maple Leaf airport lounges, an annual worldwide companion pass, and comprehensive travel insurance. 

RBC Avion Visa Infinite Privilege

The RBC Avion Visa Infinite Privilege card is a top luxury travel credit card that earns you 1.25 Avion points for every dollar you spend. You can use those points to book travel on their online portal or convert to certain airline loyalty programs. 

Some benefits include global airport lounge access, dedicated airport parking, and fast-track lanes for airport security. It also includes a comprehensive suite of travel insurance. 

Final Thoughts: Should I Pay My Bills with a Credit Card? 

If you have a credit card that earns rewards (either cashback or points) higher than the Chexy fees and use your credit card responsibly, you should pay your bills with a credit card. 

Remember that for paying bills with your credit card to be advantageous, you should be able to pay off your balance in full and on time each month. You do not want to be taking on additional interest, late fees, or debt just to earn rewards, as it will cancel out what you’ve earned. 

As with rent payments, you should have recurring bills covered in your monthly budget. Keep track of your spending, know when your bills are due, and ensure you always have enough to pay off your credit cards–and you’re golden. 

Ready to start earning rewards on your monthly bills? Opt into Chexy Wallet in your Dashboard. 

Note that you must be an active rent-paying Chexy user. If you’re not already, get started with Chexy today. 

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