PAY YOUR RENT AND BOND WITH AMEX/Visa/Mastercard [merged threads]

Discussion in 'American Express Rewards' started by Nutcase, Oct 9, 2007.

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  1. Nutcase

    Nutcase Active Member

    Jan 29, 2005
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    Well they said that it couldnt be done but here it is.

    www.rentalrewards.com.au

    This website allows you to pay your rent and bond by any Credit Card Automatically.

    The agent doesnt even have to be affiliated with the company.

    Of course there is a catch. 1.2% for Visa and Mastercard, 2.7% for AMEX. Still, if you do the sums, its not too bad.

    I just signed up and couldnt be happier. 40,000 points here we come!

    Happy hunting
     

  2. v8Statesman

    v8Statesman Established Member

    Is the 40,000 points a sign up special? Or have you worked out yourearnings based on your rent?
     
  3. Nutcase

    Nutcase Active Member

    Jan 29, 2005
    519
    64
    40,000 is the amount of points that I will receive in the next 12 months by swapping my payment method
     
  4. creeno

    creeno Intern

    Sep 18, 2007
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    hmmmm, very interesting indeed. Could be a nice little way to earn some extra points :) thanks nutcase...
     
  5. moa999

    moa999 Senior Member

    Jun 23, 2003
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    Do you seriously value Amex points at 2.97c in the dollar.
    No value here
     
  6. creeno

    creeno Intern

    Sep 18, 2007
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    well if I pay with Visa (ANZ Qantas F/Flyer), it will cost me an extra $271 per year in credit card surcharges....but for this I will get 21000 points that I would not have otherwise had. So $271 for 21000 points is a good deal in my mind. I could spend the same on a return SYD-MEL flight and only get 2000 points....

    Amex is obviously more expensive (an extra $611 in credit card surcharges for 32000 points). I think I will stick with the Visa payment...
     
  7. NM

    NM
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    Aug 27, 2004
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    Assuming payment with a 1:1 earning Visa, you are implying spending $40,000 with a charge of 1.2% being $480 to earn those 40,000 points, or 1.2 cents each.

    Or if using a 1:1.5 Amex such as Rewards Maximiser, your 40,000 points comes from $26,667 spend with a charge of 2.7% is $720 for the points, or 1.8 cents each.

    Value is going to be different for each person.
     
  8. Deeruck

    Deeruck Junior Member

    Nov 10, 2003
    20
    0
    Be careful with this site. You'll need to check with your agent before signing up. Mine was listed properly on the site, but when I contacted my agent they'd never heard of it.:?:
     
  9. v8Statesman

    v8Statesman Established Member


    YMMV but for me $326.70 (11,000*0.0297) for a Y-J West-East upgrade is money well spent.
     
  10. Nutcase

    Nutcase Active Member

    Jan 29, 2005
    519
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    Some of you are such hard cases!

    It's new, hence the reason why your listed agent may not have heard of it. Knowing the banking industry as I do, it aint dodgy.

    As for the value of points - its up to the individual - Personally its worth it for me - it may not be for you.

    Be an individual, live a little!
     
  11. adamonline

    adamonline Intern

    Apr 1, 2006
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    Sydney
    It is interesting though I'm not sure how new it is. It was noted on an earlier thread at the beginning of the year.

    A
     
  12. wallacej

    wallacej Active Member

    Dec 3, 2006
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    I used this company during 2005, had no issues until the end when another payment was debited after I cancelled the service. However a credit was returned to me, along with a very apologetic email.

    Just have a look at the fees and if it works for you, and you pay your cards off so aren't paying interest then it maybe worthwhile...

    I ad actually forgotten about that crew!!
    Cheers

    PS - I used Stockdale Leggo as my agents at the time so I guess if they as a large group know, most others may know of them...
     
  13. Maca44

    Maca44 Established Member

    Sep 2, 2005
    1,254
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    Sydney
    I have been using rentalrewards.com.au on my ANZ Visa since October 2005 without any problems, points transfer the same etc. I have to pay rent in any event so why not take advantage of the additional benefit of points
     
  14. Nutcase

    Nutcase Active Member

    Jan 29, 2005
    519
    64

    Thanks Mate, at last someone who understands me!

    Interesting that Tenants are treated like second class citizens - Im a landlord and a tenant for tax reasons and it never ceases to amaze me the complete lack of interest the real estate agent that I pay my rent to has in me. He's a new guy and doesnt realise that Im on both sides of the equation. He takes 2 or 3 days to get back to me on stuff, doesnt seem interested and puts the rent up regularly. He never told me about this deal with Credit cards either. If he was smart, he'd milk this one to death!
     
  15. Mal

    Mal Enthusiast

    Dec 25, 2004
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    So how does it work?

    How does money get transferred from your card to the rental agency? Do you give bank account details? BPay details? Or do they just post cheques or something similar?
     
  16. Maca44

    Maca44 Established Member

    Sep 2, 2005
    1,254
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    All they asked me for was my details, address where rent is for, contact detaisl, real estate agency, credit card details, next rent due, rent amount, rent frequency that I wish to pay. Have never heard of them since signing up, and for that matter, have not heard from the real estate agency for 18 mths.
     
  17. NM

    NM
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    Aug 27, 2004
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    According to a letter I received today regarding Amex Rewards Concierge, my Amex Membership Rewards points are worth 0.64 cents/point. However, I agree that there are ways to get far better value out of points than the concierge service.
     
  18. one9

    one9 Active Member

    Sep 14, 2005
    592
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    It always surprises me how much people value their points for. In my opinion people become so hyped, they forget to consider the true costs of things such as the cost of the inconvenience of trying to find a suitable flight, the cost of not receiving points or status etc., the cost of the extra night away because your need to be flexible with your flights etc.

    Whilst probably against the rules, if you truely value points so highly have you considered getting your own merchant account and then charging your own credit card. If you have a business you could do this and then refund yourself by cheque or bank transfer.

    The merchant fee that my business is charged is 0.7%, so it seems that 1.2% still allows the rental payment processing company at least 0.5%, and I wouldn't be surprised if the company takes a fee from the rental agency as well.
     
  19. opusman

    opusman Senior Member

    Jun 27, 2006
    5,056
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    It's completely against the rules unfortunately, I suspect your merchant account wouldn't last very long if those were the only transactions going through it.

    Also, it normally takes a considerable turnover to score a merchant fee as low as 0.7%. Starting rates are normally around the 3-4% mark in my own experience.
     
  20. lovetravellingoz

    lovetravellingoz Senior Member

    Jul 13, 2006
    5,577
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    True....but I seem to be lucky in being able to get flights where I want to go....and for a family of 5 each time.

    Certainly not always......

    But have just this week booked for New Caledonia over Easter which is also School Holidays (admitedlly March is a wet month, but is also a pleasant 28).

    The difference between the cheapest flight I could find inc taxes and redemption inc taxes was $2779.95 which at a cost of 180,000 points represents 1.54 cents per point.



    I don't use redemptions where I cannot achieve a reasonably high rate of cents per point.

    I also do not use the AMEX or VISA if I can get things cheaper for cash.



    However your "scheme" of 0.7 to "earn" say 1.5 plus is an interesting one...
     
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