Can I Pay Rent with Credit Cards? Online Rent Payment Guide
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In Hong Kong, tenants can pay their rent with a credit card and earn additional rewards. But, how to choose a credit card and platform to pay monthly rent? Online bankings and third party payment platforms, which one is better? This article will explore how to use credit cards to pay rent and obtain more favorable rewards.
Can I Use a Credit Card to Pay Rent in Hong Kong?
Yes, paying rent with a credit card is not only convenient and fast, but it also allows for the accumulation of credit card points, cashback, or travel miles, bringing extra financial value to tenants. Moreover, this payment method can improve the efficiency of fund utilization and extend the cash flow cycle.
Online Banking vs. Third Party Payment Platforms
Online Banking
- Advantages: Enables direct bank-to-landlord transactions with potentially lower fees and a user-friendly process most are accustomed to.
- Disadvantages: Online banking payment rewards are significantly lower than third party payment platforms. In Hong Kong, paying public housing rent can earn rewards. In other words, if you pay rent with a credit card for private properties or service apartments, you may not get rewards.
Here are common Hong Kong online banking credit card options and rewards.
| Credit Card | Reward | Reward Limit |
| CNCBI Motion Credit Card | 0.55% cashback | Reward available on the first HK$10,000 payment per month |
| HSBC Visa Signature Card | 0.4% cashback | Reward available on the first HK$10,000 payment per billing cycle |
| HSBC Red Credit Card | 0.4% cashback | Reward available on the first HK$10,000 payment per billing cycle |
| HSBC Platinum Visa Card | 0.4% cashback | Reward available on the first HK$10,000 payment per billing cycle |
| HSBC Premier MasterCard | 0.4% cashback | Reward available on the first HK$10,000 payment per billing cycle |
| CCB (Asia) eye Credit Card | $1=1 point; $15/mile | Annual reward limit is 12 times the latest credit limit |
| Hang Seng MPOWER | 0.4% cashback | Insurance payment rewards capped, max HK$10,000 per month; no cap for other categories |
| Hang Seng enJoy Card | 0.5% cashback | Insurance payment rewards capped, max HK$10,000 per month; no cap for other categories |
| BOC Credit Card | HK$1=1 transaction point | Monthly reward limit of 10,000 points |
Rent Payment Platforms
- Advantages: Designed for credit card use, enabling significant rewards, automated payments for timeliness, and occasional special offers to reduce fees.
- Disadvantages: Possible higher payment processing fees or charges which can negate rewards. While earning rewards is a significant advantage, the fees charged by some platforms can offset these benefits unless carefully managed. Additionally, using a rent payment platform means managing another account, remembering another set of login credentials, and ensuring that the platform account is funded or linked to a credit card.
Here are common rent payment platforms in Hong Kong.
| Platform | Service Features | Fee | Partner Credit Cards | Transaction Limit | Reward Offers |
| Citi PayAll | Pay rent, management fees, parking fees, and tuition fees in Citi Mobile® App | Up to 4% | Citibank credit cards only | $50,000 per month | Citi Cash Back Credit Card: 1%
Citi Prestige Credit Card: HK$6=1 mile |
| Rentsmart | Fee-free rent payment with UnionPay for landlords, offering rent management services | 2.8% (Visa)
2.2% (MasterCard), 0% (UnionPay) |
Visa, MasterCard, UnionPay | Unlimited | 2% cashback on all transactions |
| KeyChain Pay | Rent payment platform allowing earning of flight miles or cash rewards | 2.9% / 2.1% (using HSBC credit cards and MasterCard) | Visa, MasterCard,
AE, Apple Pay, Google Pay |
Unlimited | HSBC Visa Signature Card: 5.6%
HSBC Red Credit Card: 4% |
| Reap | International payment platform supporting cross-border payments | 2.6% (Visa/MasterCard/UnionPay),
3.5% (Amex), An additional 1% fee for international cards |
Visa, MasterCard, UnionPay,
AE |
Unlimited | Standard Chartered Simply Cash Visa Card: 1.5%
Standard Chartered Cathay Mastercard: HK$4 = 1 mile |
| Cardup | Supporting cross-border payments and extending the repayment period to two months | 2.6% (Visa/MasterCard/UnionPay). 3.5% fee for international cards | Visa, MasterCard, UnionPay | Unlimited | Standard Chartered Cathay Mastercard: HK$6 = 1 mile
DBS Black World Mastercard: HK$6 =1 mile |
Rentsmart Payment Reward Calculator
For a monthly rent of HK$20,000, using the PrimeCredit EarnMORE UnionPay card for rent payment first waives the service fee, then earns a basic 2% credit card cashback, expecting to earn HK$4,800 per year.
If you don't have a PrimeCredit UnionPay card, can you still enjoy credit card rewards? Of course, on the Rentsmart platform, using the reward calculator, you can easily calculate reward bonuses.
Reduce Renting Costs in Hong Kong with LetsGetHome
Paying rent by credit cards through online banking or third-party platforms can save on rental costs and enjoy discount rewards. If you want to rent without commission, try LetsGetHome.
Tenants can freely choose their preferred properties on the platform and enjoy a one-stop service of commission-free viewing, negotiating, and signing a lease. For landlords, it is also an efficient way to rent out properties, with a successful listing, landlords only need to pay 25% of the first month's rent as commission, significantly reducing rental costs.
to reduce renting costs and enjoy a free lifestyle in Hong Kong.
