Should you pay rent with a credit card? 'It could rapidly spiral,' expert warns
Publishing timestamp: 2024-01-30 12:44:58
Summary
Experts advise against paying rent with a credit card due to the potential for high interest rate costs and processing fees. The rewards earned may not outweigh the fees, and carrying a balance can lead to additional interest charges. Using a credit card for large transactions can also impact credit utilization and potentially lower credit scores. It is recommended to have a sufficient available balance or request a credit limit increase if choosing to pay rent with a credit card.
Sentiment: NEUTRAL
Keywords: economic events, credit card debt, housing, personal finance, interest rates, personal loans, business news, lendingtree inc, mastercard inc, housing rental, wells fargo & co,
Source: https://www.cnbc.com/2024/01/30/should-you-pay-rent-with-a-credit-card-experts-weigh-in.html