Paying your child’s $10,000+ tuition (and possibly rent) this fall? 

Most parents see that number as a big expense, and nothing more. But with the right strategy (and Chexy), you can turn that same tuition payment into cashback or thousands of travel points toward your next family trip. 

Here’s the catch: most schools don’t accept credit cards for tuition payments. That means you’re stuck with the usual payment methods: online banking, e-transfers, or even cheques. While these methods get the job done, they don’t give you a single reward point in return. 

That’s where Chexy comes in. Chexy lets you pay tuition with your credit card, unlocking rewards on one of the biggest expenses you’ll cover for your child. Instead of writing a cheque that earns you nothing, you can earn flights, cashback, or points towards your next vacation, just by paying for school. 

In this guide, we’ll take you through how Chexy works, the best credit cards to use, and exactly how far that $10,000+ tuition payment can take you. 

Why Use Chexy for Tuition Payments? 

Here are three reasons why you should use Chexy to pay your child’s tuition:

1. Earn Travel Points or Cashback

You can pay tuition, dorm fees, meal plans, rent, and other bill payments (like phone and internet) to earn travel points or cashback on these bills that otherwise can’t be put on a credit card. 

For example, you can earn 4% cashback with the Scotia Momentum Visa Infinite card, or 1.25x Aeroplan points on every dollar with top Aeroplan credit cards. 

2. Delay Tuition Due Date

Most credit cards give you a grace period of about 21 days to fully pay your statement without charging interest, giving you flexibility on tuition payments. Because let’s face it, these tuition payments mean a lot of money leaving your account at once. Paying with your credit card gives you a few extra weeks of cash flow. 

3. Build & Strengthen Your Credit

Covering big expenses like your child’s tuition with a credit card can also strengthen your credit history. Payment history makes up about 30% of your credit score, so as long as you pay off your card on time and in full, you’re building (or maintaining) a solid financial profile while supporting your child.

How to Pay Your Child’s Tuition with Chexy 

Paying tuition with a credit card and Chexy is simple. Instead of paying the school directly, you’ll run payments through Chexy. Here’s exactly how to do so:

1. Sign up or log in to your Chexy account. 

2. Select “Set up a one-time payment.”

3. Select Childcare and Education as the payment category. 

4. Choose how the school should be paid (usually pre-authorized debit) and set up the payment. 

5. Choose your child’s college or university’s payee name and enter your account number. 

6. Enter the amount you owe, select your card, and submit the payment.

Some things to note:

• Payments take 3 business days to process, so please ensure you send your payment before the tuition deadline. 

• Chexy charges a 1.75% fee for Visa and American Express credit cards, which is the lowest fee in Canada compared to other payment processors. Ensure you use a high-rewards credit card to offset the fee and come out ahead. 

Best Credit Cards to Use for Tuition Payments 

Let’s take a look at two top credit cards for paying your child’s tuition with Chexy: the Amex Aeroplan Reserve and the Scotia Momentum Visa Infinite. 

Let’s break it down with a real example. Say you’re covering your child’s $11,000 tuition plus $1,325 in monthly rent. Over the course of a year, that adds up to about $26,900 in payments: money you’re already spending, but now earning valuable rewards.

Amex Aeroplan Reserve

One of the best travel rewards credit cards in Canada, the Amex Aeroplan Reserve earns 1.25x points for every dollar you spend. 

Here’s the breakdown on how many points you’ll earn paying your child’s tuition + rent for the year:

• $26,900 + 1.75% Chexy fee = $27,370.75 total spent

• $27,370.75 x 1.25 = 34,213 points earned

• Factor in the 60,000-point welcome bonus, and you’ll earn 94,213 points in the first year. 

Those Aeroplan points can take you across the globe with a few economy-class flights to Europe or cover one business-class trip. 

Want to see this strategy in action? Check out Sarah’s video, where she breaks down exactly how paying tuition and rent with the right credit card can add up to serious rewards.

Scotia Momentum Visa Infinite

The Scotia Momentum Visa Infinite is hands-down the best cashback card in Canada. It’s especially good for Chexy payments, as you can earn 4% cashback (up to $25,000 annually). 

Here’s how it breaks down with your $26,900 payment:

• $26,900 + 1.75% Chexy fee = $27,370.75 total spent

• Earn 4% cashback on the first $25,000 = $1,000 cashback

• The remaining $2,370.75 earns 1% cashback = $23.70 cashback 

• Factor in the $200 welcome bonus, and you’ll earn $1,223.70 in cashback in the first year. Use this card on all other everyday purchases, and you’ll earn even more. 

Real-Life Flight Redemptions

Wondering where those ~94k Aeroplan points can take you? Here are some examples of great flight redemptions all over the world:

• Vancouver (YVR) to London (LHR) for ~70k points in business class 

• Montreal (YUL) to Paris (CDG) for ~70k points in business class

• Multiple one-way economy-class tickets to many destinations in Europe (think Spain, Portugal, Italy, France) 

• Multiple round-trip cross-country economy-class flights 

Pro tip: use our tuition calculator to plug in your child’s tuition payment and see just how far your points can take you. 

Tips to Maximize Rewards with Chexy

Besides paying for your child’s tuition and rent, here are a few ways you can maximize your rewards with Chexy and keep stacking those points: 

• Use Chexy consistently: Pay for your own rent and bills through Chexy. If you have a small business, consider using Chexy for all your business payments, too. Business credit cards often have higher rewards and welcome bonuses. 

• Add an authorized user: If your child is old enough, adding them as an authorized user helps build their credit history, while you get rewarded for all their payments. 

• Leverage welcome bonuses: Many premium credit cards offer huge signup bonuses if you hit a spending threshold (ex., $7,500 in 3 months). Tuition, rent, and other everyday purchases make it easy to hit quickly. 

Paying for your child’s education is one of the biggest expenses you’ll take on, but it doesn’t have to be just money out the door. With Chexy, you can turn tuition and rent payments into cashback, flights, and points that benefit your whole family. Instead of writing cheques that earn you nothing, start paying tuition the smart way: with rewards that go further.

Ready to get started? Sign up for Chexy today and make your next tuition payment work for you.