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Hey credit Warriors welcome to the show And in this video we are going to talk About a topic that doesn't get talked About that much and that is the best Credit card to use to make rent and Mortgage payments because no matter Whether you own your own home or you Rent that payment is likely to be your Biggest single expense every month rent Is too damn high right it is now I can't Lower your rent or your mortgage payment But I can suggest a credit card that can Let you earn some points or some cash Back on those payments or to use towards Those payments so that you can at least Get a little extra value each month and As you will see in a moment how much Value you get depends on how you use These cards let's look at rent first so The card I recommend for paying monthly Rent is the built MasterCard it lets you Pay rent to any landlord with no Transaction fee so either the landlord Has signed up to the built portal in Which case it's all done electronically Or if not then you pay with your card And built sends a check on your behalf To your landlord what's the advantage of This well you earn one built Point per Dollar spent on rent up to 100,000 Points per year which you'd have to Spend a total of $100,000 for so I don't Think that cap will affect most people Now you may scoff at just one point per
Dollar isn't there a bonus category for Rent but this is already incredible in The past there was no way to pay rent to Most landlords with a credit card unless You went through a service like plastic And ended up paying like a close to 3 % Fee in my understanding what built is Doing is taking a loss on your rent Payment so they are footing the bill for The merchant fee in the hope that you Use the card for other things too where They receive a merchant fee paid by the Merchant this time and perhaps they also Hope that some card holders will carry a Balance on the card and pay interest as Well which I'm sure some people do and Thus you do have to use your card a Total of five times per month to earn Any rewards at all that's just making Sure you use it for other things as well You're only allowed one payment on one Property per month too but if your rent Is say $2,000 per month then that's 24,000 points per year and built points Are valued up 2.1 cents per Point by Bank rate and that would be $54 in value Per year and that's just the average Value for the points if you use them Through Transfer Partners for business Class flights or high-end hotels you Probably will get way more value out of Them built has a load of great Transfer Partners including American Airlines and It's actually the only transferable
Points currency in the US to have AA as A partner then we also have others like Air Canada aop plan and United and Hotels like IHG and Hyatt and Hyatt is a Particularly high value Hotel chain Bank Crate values their points at the highest Of any hotel brand at 2.3 cents a piece And I've got great value out of high Points personally staying at their Allinclusive Resorts like hayatt Zea Los Cabos and Cancun in addition to rent the Built MasterCard also allows you to earn Points on a few other categories it's 3x On dining 2x on travel and 1X on Everything else and on rent day which is The first of every month they double That on everything except for rent so Dining is 6X travel is 4X and everything Else is 2x why don't they double it on Rent I don't know why Why you said it the rent is too damn High right it's cuz rent is too damn High I don't know just kidding but Anyway with rent the earning categories The rent days and there's a dining Program where you can earn 5x points on Certain restaurants and you can also Link your lift account and earn more Points so with all those things combined You should be able to earn a load of Points to use for free travel which Would be the highest value Redemption You can also use points for shopping on Amazon but that's generally a low value
Redemption so not recommended the card Also provides $800 worth of cell phone Protection when you pay your bill with It and that is all for no annual fee I'll put a link to the built card below If you would like to learn more about it So that's my recommended card for rent Let's now move on to mortgages because They are also too damn High house prices Have skyrocketed since the pandemic and Now we're also faced with mortgage rates Of 72% with the average monthly payment On new mortgages now over $2,300 and if you live somewhere like New York or La your payment could be Quite a bit higher so let's take look at A card that could help out with saving Some money on your mortgage and that is The rocket Visa signature card from Rocket mortgage this card allows you to Either apply points towards a down Payment on a house when you use rocket Mortgage as your lender or apply points Towards your mortgage balance if you Already have a mortgage with rocket You'll get the best value out of this Card when you redeem points on a down Payment 1 cent per point and you earn Five points per dollar on your spending So that gives you a 5% % return Redeeming points towards your rocket Mortgage balance is lower value for the Points 0.4 cents and that works out at 2% back on all your spending then you
Can also redeem for a statement credit For an even lower value and that works Out at 1.25% back on all your spending So my suggestion would be to use this Card to accumulate points towards a down Payment rocket lets you redeem $8,000 Worth of points in this way now if you Don't currently have mortgage with Rocket the card does have annual fee but There is a $200 welcome bonus for Spending $2,000 on the card in the first 3 months so that pays for the first 2 Years anual fee and by the year 2 Mark You will probably have a mortgage with Rocket so the fee will be waved I mean If you weren't seriously thinking about Getting a mortgage with them then this Card would kind of be pointless but if You do it that way then you're basically Earning 5% back on all your spending as Long as you use it for a down payment The card offers some other useful Benefits too like extended warranty cell Phone protection up to $750 and porch piracy protection up to $10,000 so basically if you order a Package to your home and someone steals It off your porch you have an insurance For that you can get reimbursed and That's not a benefit I've really ever Seen on other credit cards ultimately Though this card is very your mileage May vary okay ymmv as we say if you want To use your points towards your monthly
Payments then you'd be better off Actually with a card like the double Cash cuz that's 2% back on everything Which is exactly the same and it's Genuine cash back that you could use for Your mortgage payments or you could just Choose to use it for something else so Much more flexible but if you use it for A down payment you're basically earning 5% back on everything and that's that's As good as it gets man I don't really Know you know otherwise you'd be doing Like a system where you use loads of Different credit cards for all different Categories to try and get 5% back on Everything and even then you still might Not succeed so to get 5% back on Everything with one card is amazing I'll Put the link to the rocket Visa Signature card below if you want to Check it out I'm sure some people in the Audience probably would find it Beneficial and some people maybe not all Right guys so that is two credit cards That can help you with your rent and Your mortgage payment they're basically The only cards out there that have these Functions and links to both of them will Be below do remember using our links Does help out our show so we thank you Very much if you do however do not feel Obliged to do so please leave your Comments below subscribe to the channel If you're new and we'll see you next
Time Bye-bye
