Here’s why you should use your credit card to pay rent

In the event that you remain in a leased house, you may comprehend the difficulties of adjusting among payday and lease day. For troublesome circumstances such as now, when the Coronavirus pandemic is devastating the economy and individuals are being laid off, paying rent on time might be a major budgetary test for a few of us. Despite the fact that proprietors have been approached to give elegance period to the occupants for paying rent for the following three months, you may not anticipate that all landowners should be liberal. In such situations, paying rent utilizing your Mastercard could be an incredible alternative. 

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Prestige Smart City


For what reason would it be a good idea for you to utilize charge card for paying rent? 


1. Get prizes for utilizing charge card limit 


Practically all Visa suppliers offer prize focuses for utilizing as far as possible for online installment and exchanges. While direct bank move doesn't presents to you any profit, on the off chance that you utilize your Mastercard for rental installment, you can gain reward focuses on your Visa, which you can gather and reclaim for purchasing flight tickets, café vouchers or for web based shopping, with no additional expense. That implies your standard regularly scheduled installment can include additional advantage in your kitty, with no extra charge. 

2. Keep your liquidity unblemished 


You don't need to spend your financial balance, as you can utilize your charge card breaking point to pay lease. In the event that you have unused Visa limit accessible, you can utilize that to move the sum to your proprietor's financial balance. The online installment caused will to be appeared in your Visa charge proclamation, which you can pay before the due date to maintain a strategic distance from the account charges. Assume, your pay day is seventh while your landowners incline toward lease on the first of consistently and your charge card bill is produced on the fifteenth with a due date of the third of the following month. You can move the lease on schedule and cover the Mastercard tab before the due date, with your record balance. Along these lines you can concede the cycle by close to 30 days. 

3. Improve your financial assessment 


Utilizing your Mastercard limit and convenient reimbursement additionally helps in boosting your financial assessment and making a sound record as a consumer. This will help you in improving your advance qualification. Aside from this, your credit use wellbeing is additionally significant for improving your financial assessment. Assume, your credit limit is Rs 1 lakh and over half of your cutoff remains unutilised for quite a while, your financial assessment may slip a couple of focuses, along these lines. In the event that you are utilizing your credit breaking point to pay enormous sums and in the event that you are reimbursing the obligation on schedule, you are considered as a restrained borrower. 

4. Decide on EMI ban 


On the off chance that there has been a compensation deferral or finding at your work environment, because of the Coronavirus pandemic and your landowner isn't consenting to concede your lease, you can just utilize your Mastercard to move the sum and decide on the EMI ban, to delay your charge card charge installment for a quarter of a year. As of late declared by the RBI, all banks need to broaden the EMI occasion for retail advances, including charge card installments, too. In any case, remember that you need to pay extra back charges to the bank, for conceding the card installment.
Location: Bengaluru, Karnataka, India

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