House Rent is one of the biggest monthly expenses, and managing it can sometimes be challenging, especially when dealing with a temporary cash crunch. If you’re short on funds, paying rent with a credit card can be a lifesaver.
With the convenience of digital platforms like MobiKwik, rent payments have become even easier. Not only does it simplify the process, but it also offers exciting rewards and cashback benefits. Plus, you can use MobiKwik for a variety of other financial transactions, including electricity bill payments, UPI transfers, and investments.
In this guide, we’ll walk you through why paying rent via credit card on MobiKwik is beneficial and how to do it hassle-free..
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Benefits of Rent Payment via Credit Card on MobiKwik
Rent payment by credit card has gained significant popularity due to its convenience and rewards. MobiKwik is India’s leading digital payment platform that allows rent payment via credit card in an entirely hassle-free manner. This feature can help tenants get their finances straight, thus allowing them to earn cashback, rewards, and an interest-free credit period.
1. Exciting Rewards & Cashback
MobiKwik frequently offers cashback rewards on rent payments. You can earn up to ₹250 cashback when you pay rent using a credit card on the app.
2. Earn Credit Card Rewards
Most credit cards offer reward points, cashback, or milestone benefits on transactions, including rent payments. By using your credit card on MobiKwik, you can unlock additional benefits based on your card’s policies.
3. Better Cash Flow Management
Paying rent with a credit card allows you to preserve cash flow while enjoying an interest-free period of up to 50 days (depending on your credit card provider). This gives you extra time to manage your finances efficiently.
4. Boost Your Credit Score
Regularly using your credit card and making timely payments helps build a strong credit score. Since rent payments are recurring, they can contribute to improving your creditworthiness, making it easier to get loans or credit cards with lower interest rates in the future.
5. Hassle-Free & Secure Payments
With MobiKwik’s user-friendly interface, paying rent is quick, convenient, and secure. The app also sends monthly reminders, ensuring you never miss a due date.
Plus, you won’t have to manually enter your landlord’s bank details or credit card information every month—saving you time and effort.
Step-by-Step Payment Guide using Credit Card on MobiKwik
Step 1: Download & Install MobiKwik
In case you do not have the app, you may obtain MobiKwik from the Google Play Store or Apple App Store to sign up/log in.
Step 2: Visit the Rent Payment Section
- Open MobiKwik App.
- Select Pay Rent from the list of services provided.
Step 3: Enter Rent Payment Details
- Select Payment type(Home Rent, Office Rent, Maintenance Fee, Security Deposit)
- Select one from the two options available (Transfer To Bank A/c, Transfer to UPI ID mobile)
- Enter the amount to transfer
- Click on Proceed
Step 4: Select Payment Method
- Select Payment method as Credit card already listed
- If you want to pay with different Credit card, Click on Add New Debit/Credit Card
- Enter Card Number, Expiry date, CVV
- Now Enter the OTP ecevied on your registered mobile number to verify transaction
Fees and Charges Applicable for Rent Payments Using MobiKwik
- Transaction Fee: There may be a minimal processing fee of 1-2% of the transaction amount, usually applicable.
- GST Charges: Additional GST is chargeable on the transaction fee.
- Cashback Triggering Offers: MobiKwik often runs cashback and discount offers for rent payments. Please verify ongoing offers prior to paying.
Things to Keep in Mind
- Keep track of your credit card billing cycle to avoid unnecessary interest charges.
- Ensure your credit card limit is sufficient before proceeding.
- Check if your bank imposes any restrictions or additional charges on rent payments.
- Always use a trusted and verified bank account/UPI ID for rent transfers.
Conclusion
Rent payments via credit cards using MobiKwik make for an easy and efficient way to manage monthly rent dues while earning rewards and enhancing cash flows. A few simple steps mentioned above will ensure an effortless rent payment system for you while also maximizing your benefits.
