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If you’re like those of us at TPG, you want to get credit card points and miles from every purchase you make. However, landlords and mortgage companies either don’t accept credit card payments or charge tack on hefty fees that make credit card payments unwise. Now, though there’s a new service available that’s changing things up.

Urbanr allow tenants to pay their rent through a credit card with a fee of just 1.5%. This is the lowest rate currently available (that we’re aware of) paying rent with a credit card, beating Plastiq’s 2.5% rate and the 2.99%+ that other services charge.

This isn’t the first rent payment service to offer attractive rates like this, but none of the past services have survived. However, according to View From the Wing, the CEO of Urbanr insists that the “1.5% fee is a sustainable long-term price.

The 1.5% fee can be paid one of three ways: all by the renter, all by the landlord or split between the two:

Urbanr will let you pay with Visa, Discover or MasterCard. However, Urbanr doesn’t accept American Express, which is understandable considering the high merchant interchange fees that Amex charges. Unfortunately, this means you won’t be able to use the most lucrative option for everyday spending: the Blue Business Plus Credit Card from American Express, which earns 2x Membership Rewards points per dollar spent — a return of 3.8% at current TPG valuations.

Still, there are plenty of other credit card options to consider when using Urbanr. Here are just some examples:

Per Urbanr’s FAQ, the service “lets you split payments on up to three different cards per transaction.” This means that you can easily “top off” an airline or hotel points account by putting a specific amount on one card while paying the rest with another card. This is also good for when you only have a little more left to satisfy a credit card’s minimum spending requirement but you don’t want to put the whole rent payment on that card.

Note that we haven’t had the chance to test this program yet, so we can’t say for sure that these transactions will be treated as purchases rather than cash advances. One of the programs that I’ve used in the past to pay rent recently switched from being treated as purchases to cash advances, which can result in some unwelcome cash advance fees and interest. You may want to call your credit card company to reduce your cash advance line to $0 before making a rent payment.

Chase Freedom Unlimited®

 

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More Things to Know
  • Unlimited 1.5% cash back on every purchase — it's automatic
  • Earn a $150 Bonus after you spend $500 on purchases in your first 3 months from account opening
  • 0% Intro APR for 15 months from account opening on purchases and balance transfers, then a variable APR of 16.49-25.24%. Balance transfer fee is 5% of the amount transferred, $5 minimum
  • No minimum to redeem for cash back
  • Cash Back rewards do not expire as long as your account is open
  • Free credit score, updated weekly with Credit Journey℠
  • No annual fee
Intro APR on Purchases
0% Intro APR on Purchases for 15 months
Regular APR
16.49% - 25.24% Variable
Annual Fee
$0
Balance Transfer Fee
Either $5 or 5% of the amount of each transfer, whichever is greater
Recommended Credit
Excellent/Good

Editorial Disclaimer: Opinions expressed here are author’s alone, not those of any bank, credit card issuer, airlines or hotel chain, and have not been reviewed, approved or otherwise endorsed by any of these entities.

Disclaimer: The responses below are not provided or commissioned by the bank advertiser. Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser. It is not the bank advertiser’s responsibility to ensure all posts and/or questions are answered.