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Should You Use Your Credit Card to Pay Rent?

Paying rent is a recurring expense that uses up a substantial portion of our income every month. The worst part is that after paying rent for several years, there are no assets to show. Paying rent is the most unrewarding experience of all times. Isn’t it appalling that the biggest monthly payments, the ones that should give a lot of cashback and rewards, are the ones you cannot use a credit card for? But, it is not surprising as most of these payments go to a single person and not a company. Hence, they will not bother to apply for a merchant account as it may cost them too.

Ways to Pay Rent Using Credit Cards

Thanks to the new startups in Singapore – CardUp and iPaymy – you can earn cashback and rewards on your rent payments. You can even take advantage of the sign-up bonuses. Let’s dig deeper into the details of these methods.


This startup is an online payment platform, which allows you to make all kinds of payments like rent, tuition fee, insurance premiums, tax, etc. using a credit card, irrespective of whether the recipient accepts credit card payments. CardUp accepts major partners and credit cards with institutions like UOB, Citi, BOC, and Mastercard. Customers of CardUp, Barry and Laura said that they pay their rent and taxes through this platform, which helped them earn miles and travel for free to Iceland.

How CardUp Works

  • Set up the account for free.
  • Select the payment type and link your credit card.
  • Schedule your payments in advance, set up recurring payments or make one-time payments.
  • CardUp will deduct the amount along with a 2.6% transaction fee 5 working days prior to the set date.
  • Once the transaction is done, earn miles, cashback, or reward points for your payment.

How Much Can I Earn?

You can earn 1.4 miles to the dollar on your credit card. If you spend S$60,000 every year on recurring bills and rent through this website along with a fee of S$1,560, you can enjoy 86,000 miles every year. These miles can be redeemed for business class return tickets to Shanghai, Seoul, Beijing, or Tokyo. What’s more? You can refer a friend to CardUp (for personal use) and get a discount of S$20 on your next payment. Your friend gets S$20 off their CardUp fee if a minimum of S$1,000 is paid via this website. Similarly, refer a friend who will use CardUp for business use and earn S$100 off the next payment for yourself and your friend gets S$100 off their CardUp fee.

Let Us Illustrate

Suppose you have a Citi PremierMiles Visa Card and you pay S$6,000 per month on rent. In that case, your total annual spend is S$73,872, which includes S$1,872 CardUp fee. So, the total miles you can earn is 88,646. You have enough miles for 2 business class return tickets to Indonesia, Malaysia, and Brunei with at least 18,646 miles remaining. If you use your UOB ONE Card, for instance, to make payments and spend S$2,000 every month on bills and rent, you will earn a total cashback of S$1,200. CardUp fee of S$624 will be deducted from this cashback and you will get S$576.


iPaymy is a payment platform for SMEs and businesses. If you have a small business and need to pay rent, invoices, salaries, and corporate tax, you can do so using your credit card through this website. This platform delivers payments to merchants while freeing up cash and providing access to interest-free credit. Similar to CardUp, you have to pay 2.6% as transaction fee and use your corporate credit card to pay, regardless of whether the merchant accepts them. With this platform, you can pay the vendor immediately but keep the cash for 55 days longer without any penalties. You can earn air miles, points, and cashback when you pay with your card. This way, you can build your company’s credit rating.

How iPaymy Works

  • Set up your account and select the type of payments.
  • iPaymy will charge your card for the set amount along with the 2.6% fee.
  • Your payments will be processed and paid via bank transfer within 4 working days.
  • The amount gets deducted, but you can keep the cash for 55 days without any interest.

Credit cards that are issued in Singapore will be charged with a transaction fee of 2.6%, 3.3% if issued outside of the country, and 3.3% for all American Express credit cards.

How to Pay the Rent

  • Log in to your iPaymy account.
  • Choose ‘My Properties’ and select ‘Register my Property NOW’.
  • Enter your property details and upload the tenancy agreement.
  • Input your landlord’s name and bank account details.
  • Enter your chosen card details.

Credit Card Sign-Up Bonuses

Some credit cards in Singapore require you to spend a minimum amount in a month to earn sign-up bonuses. You can use rent payment as a way to hit this minimum requirement and walk away with high rewards or cashback. For instance, the Citi PremierMiles Visa Card offers 30,000 Citi Miles when you apply and spend at least S$7,500 in the first 3 months of card approval along with the 1.2 Citi Miles on per dollar spend. However, make sure you do not max out your credit limit with monthly rent payments. If this happens, you credit score will be affected and you might face issues in the long run. Keep your credit utilisation ratio below 20%.

So, coming back to the question – Should you use a credit card to pay rent? The answer is yes because of the 2 new startups and the sign-up bonuses. The cashback and air miles you can earn from paying rent through these websites can let you save on your daily purchases and flight tickets. It is advisable to pay rent for at least 6 months to see if the rewards and cashback are actually worth it.

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