First of all, using credit cards for rent payment is similar to using flamethrowers for lighting a candle. Of course, it works, but the trouble one can find himself into is enormous. ðŸ«
Bilt or Plastiq allow using Amex Gold and Chase Sapphire Preferred right through the portal of the landlord. It feels fantastic to earn your points rapidly. Of course, you see yourself traveling to the Maldives for free because of the rental payments. You have to stop yourself right there. Even one missed payment will bring you 25% APR that devours your dreams of traveling.
In case the payment is shared with your roommates, there will be some unpleasant moments between all of you. Essentially, you will act as a bank in your house. And in case Kyle did not Venmo you his part until the date of payment, it will be you who will be affected. Your declining credit rating does not bother Kyle at all. 📉
The best way to deal with it is separating the finances clearly. Use a service like Splitwise for organizing your debt. Make sure your roommates deposit their part to your checking account three days before the statement cut-off date. “I’ll get you later” does not work.
So, the main thing here is if your roommates are adults you can count on, the Bilt card is exactly what you need. Bilt card is the best option for earning points on rent without any transaction fees. But in case your life is full of partying till late nights and unresponsibility, you’d better pay with a check.