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HIGHLIGHTS
- Housing.com has launched the ‘Pay Rent’ platform on its mobile app to facilitate rent transfers using a credit card
- Paying off rent through credit cards can help tide over short-term financial crunch
NEW DELHI: Many people have lost jobs or have seen their salaries cut or delayed because of the covid 19 pandemic, thus making it difficult for them to honour financial obligations, including house rents.
Many of them are now looking at credit options to meet such expenses. In this backdrop, Housing.com, a real estate portal, has launched the ‘Pay Rent’ platform on its mobile app to facilitate rent transfers using a credit card. The platform will allow users to transfer rent directly to their landlord’s bank account and generate digital receipts instantly.
Speaking about the facility, Dhruv Agarwala, group chief executive Housing.com, Makaan.com & PropTiger.com, in a press release, said, “Rent is probably one of the biggest expenses borne by individuals on a monthly basis…Housing.com’s ‘Pay Rent’ platform will allow users to maintain their liquidity if needed over the next couple of months by using their credit cards for rent transfers as it allows flexibility in repayment.”
NEW DELHI: Many people have lost jobs or have seen their salaries cut or delayed because of the covid 19 pandemic, thus making it difficult for them to honour financial obligations, including house rents.
Many of them are now looking at credit options to meet such expenses. In this backdrop, Housing.com, a real estate portal, has launched the ‘Pay Rent’ platform on its mobile app to facilitate rent transfers using a credit card. The platform will allow users to transfer rent directly to their landlord’s bank account and generate digital receipts instantly.
Speaking about the facility, Dhruv Agarwala, group chief executive Housing.com, Makaan.com & PropTiger.com, in a press release, said, “Rent is probably one of the biggest expenses borne by individuals on a monthly basis…Housing.com’s ‘Pay Rent’ platform will allow users to maintain their liquidity if needed over the next couple of months by using their credit cards for rent transfers as it allows flexibility in repayment.”
Paying off rent through credit cards can help tide over short-term financial crunch, but this relief lasts only a month or 45 days as one will be required to pay credit card dues. Interest on credit card dues, even if availing the EMI facility, is substantial.
Remember, interest rates on credit cards can go up to 30% per annum. Weigh the costs to decide if you really want to opt for the option.
