When you spend a lot of money on your credit cards, you get rewards for those expenditures. For example, some credit cards offer a point for every dollar you spend, and those points can translate to cashback at the end of the month, to points that go towards flights and hotel bookings, and more.
However, spending money isn’t the only way you can earn reward points on your credit cards. You can also earn reward points just by signing up for a credit card.
This is how it typically works: If you are approved for a new credit card, you’ll have a certain amount of time in the introductory period to spend a certain amount of money. If you spend this certain amount of money in the first few months period, you will earn a huge amount of introductory points towards your credit card rewards program. Depending on the credit card, you can earn up to 100,000 bonus points.
It is often difficult to get a signup bonus offered by a credit card company because you need to spend a certain amount within a short time. Using such a card to pay your rent allows you to fulfill such a requirement quickly.
Credit cards with such signup bonuses include:
- United Explorer Card
- Citi Premier Card
- Chase Sapphire Reserve Card
Not every cashback credit card is equal. Top credit cards for rent payment offering cashback deals each have different policies and perks. For instance, some offer higher percentages back than others. The range is typically between one and six percent.
Some also provide cashback on all purchases, while others only provide cashback on specific types of purchases. The way in which you can receive that bonus cash varies between companies. Some provide it via direct deposit. Others allow you to select from various gift cards for popular retailers. Examples of such cards include:
- Discover It Cash Back
- Citi Double Cash Card
- Chase Freedom Unlimited
Travel rewards credit card for rent payment is a good choice if you need to travel often for business or pleasure. Most such cards provide travel reward points to use when flying.
Some also offer other travel perks, such as points for travel using rideshare services like Lyft.
Popular travel rewards credit cards include:
- American Express Platinum Card
- Capital One Venture Rewards Card
- Chase Sapphire Preferred Card
Ultimately, you need to choose a credit card for renters that suits your needs best. That may mean looking for one with the lowest APR or the highest credit limit. You also must consider the payment methods accepted by any third-party company you choose to help you pay your rent with a credit card. In any case, avoid choosing cards with high annual fees or other fees, unless you know the benefits outweigh the expenditures.