[ad_1]
Heating, electricity, cable, internet and water bills are usually asked for by debit card or bank account. But if you’re wasting a month or trying to earn as much as you can, points and rewards Paying for these bills in plastic might be the right move if you pay from your credit card whenever possible. It may cost extra. next vacation tips.
However, there is a caveat to this strategy. Because most utility her providers charge a fee when you use your credit card to pay your bill. This is a flat fee, typically less than $5, or a percentage of your bill. If you’re just focusing on rewards and not the financial pinch, you need to make sure your rewards outweigh the additional costs of using your credit card to pay your utility bills.
For example, if your electricity bill is $80 and your credit card payment has a processing fee of $2.95, the total reward for that transaction must be greater than $2.95. In other words, we need to consider not only the reward rate applied to this transaction, but also the redemption amount of those rewards. If you earned 1 point for every $1 spent on this transaction, if the points were worth 1 cent, you would only get $0.83 in rewards using your credit card. transaction.
Below we have selected the best credit cards that you can use to avoid losing money on your utility bills.In the right scenario, some of them may even benefit you. Card function: introduction of APR and welcome bonus It is also assumed that you are getting the most value out of your payment method.
read more: Can I pay my taxes with a credit card?
Best credit card for bills and utility bills
Referral offernone
April18.24%, 24.24%, or 27.24% variation APR
Referral Purchase APRnone
Recommended credit excellent, good
- Earn 3% in eligible top spend categories
- Earn 2% in the second eligible top spend category
- Earn 1% on all other qualifying purchases and Venmo person-to-person transactions
Annual fee$0
foreign transaction fee none
- Earn 3% in eligible top spend categories
- Earn 2% in the second eligible top spend category
- Earn 1% on all other qualifying purchases and Venmo person-to-person transactions
our view
The Venmo credit card* is one of the few credit cards that offers some flexibility in rewards. Earn a 3% reward on the highest eligible spending category. One of them is bills and utility bills. Other options include transportation, travel, groceries, entertainment, dining and nightlife, health and beauty, and gas. For a $80 electricity bill with a $2.95 surcharge, you can earn up to $2.49 in rewards with this card. It’s not exactly profit in this case, but it can be if the bill itself is high or the surcharge is low.
For example, with a $120 bill and a $2.95 surcharge, you can earn up to $3.69 in rewards using your Venmo credit card. It can add up over time. Apply your own utility bills and provider fees to see if this route is worth it.
You’ll also automatically earn a 2% reward on your second highest qualifying spend category. Otherwise, you will earn 1%.
Avoid using this credit card for other eligible spending categories that may exceed bills or utility bills, as higher reward rates are automatically applied based on your spend in a given month. please. This is one of the few credit cards that allows you to redeem your credit card rewards as virtual currency or cash back.
Referral offerEarn a $200 Cash Rewards bonus when you spend $1,000 in your first 3 months
April19.24%, 24.24%, or 29.24% variation APR
Referral Purchase APR0% introductory annual interest rate for 15 months from account opening
Recommended credit excellent, good
- Earn Unlimited 2% Cash Rewards On Your Purchase
Annual fee$0
Trial balance transfer APR0% introductory annual interest rate for 15 months from account opening for eligible balance transfers
Balance transfer APR19.24%, 24.24%, or 29.24% variation APR
Balance transfer fee Max 5%; Min: $5
foreign transaction fee 3%
Penalty APR none
- Earn Unlimited 2% Cash Rewards On Your Purchase
our view
The Wells Fargo Active Cash® Card is a great reward for paying your utility bills. Earn 2% cash rewards on trades. Don’t worry about categories. Due to the lower reward rate, there are fewer opportunities to generate net income with this card than with the Venmo credit card, but this card offers consistent rates that can put you in the green in the right scenarios.
This is also a good option if you are looking to expand your budget and need a little breather thanks to our introductory APR offers. For 15 months from account opening, you can take advantage of 0% introductory APR on purchases ( then 19.24%, 24.24%, or 29.24% variation APR). This means that no interest will accrue as long as you pay all minimum payments on time during this promotion period. If you go this route, you don’t have to pay a large amount of cash up front to pay your utility bills, but you do need to make sure you pay off the balance before the promotion ends to avoid building up more debt.
A utility bill can also help you reach your spending threshold to earn a welcome offer. For more information, read our full Wells Fargo Active Cash Card review.
Read our review of the Wells Fargo Active Cash Card.
buy time to pay utility bills
Referral offernone
Aprilsee terms
Referral Purchase APRsee terms
Recommended credit Excellent/Good
reward ratenone
Annual fee$0
Trial balance transfer APRsee terms
Balance transfer APRsee terms
Balance transfer fee $10 or 3% of each transaction amount, whichever is greater.
late fee see terms
foreign transaction fee 3%
Penalty APR none
our view
If you leave this page or visit any Bank of America Financial Center, this online exclusive offer may not be available. Apply now to take advantage of this offer.
If you’re starting to fall behind on some bills, your BankAmericard® credit card allows you to take advantage of 21 billing cycles of the introductory APR (see terms and conditions) for purchases and balance transfers made in the first 60 days. (see conditions: fluctuating APR then). As long as you make the minimum payments on time, you won’t be charged interest for more than a year and a half. This gives you room to breathe to consolidate your finances while keeping your lights and other utilities on.
Discipline is important in this approach, as credit card debt can easily accrue and leave you behind. To avoid this potential pitfall, we recommend that you ensure that you can pay off your credit card balance in full before the introductory APR period ends.
Referral offernone
Aprilsee terms
Referral Purchase APRnone
Recommended credit excellent, good
- 3x points on meals
- Double points on travel
- 1x points on other purchases
- Earn up to 1x points on rent payments with no transaction fees. Maximum of 50,000 points in each calendar year. Earn points on rent and qualifying net purchases when you make at least 5 listing transactions within a statement period using your Bilt Mastercard.
Annual feenone
Balance transfer APRsee terms
Balance transfer fee A referral fee of $5 or 3% of each balance transfer amount, whichever is greater, for 120 days from account opening. After that, up to 5% and a minimum of $5 for each balance transfer.
late fee up to $40
foreign transaction fee $0
Penalty APR none
- 3x points on meals
- Double points on travel
- 1x points on other purchases
- Earn up to 1x points on rent payments with no transaction fees. Maximum of 50,000 points in each calendar year. Earn points on rent and qualifying net purchases when you make at least 5 listing transactions within a statement period using your Bilt Mastercard.
our view
As with most utility bills, paying rent with a credit card usually results in an additional flat fee. points can be earned. By doing so, you will not be charged a fee when paying rent with a credit card. Earn 1 point for every dollar of rent paid, up to 50,000 points per year. So, as long as your monthly rent is less than $4,166.67, you can earn points on your rent throughout the year.
However, you have to pay attention to the fine print to get these perks on your rent. Each cardholder must complete at least five of his transactions on the built card in any billing cycle to be eligible to earn rewards. that’s all I use it to pay my rent.
If your rental property isn’t part of the Built Rewards Alliance, but your landlord accepts Venmo, PayPal, physical checks, or online payment portals, you can pay rent and earn points using your Built Rewards card . Please note that online payment portals do not charge fees in excess of the rewards you receive from using your credit card.
FAQ
What utility bills can I pay with a credit card?
Whether you can pay your utility bills with a credit card depends on your utility provider. Telecommunications services are often state owned, but heating, electricity and water may be provided by more local he providers. Check with your utility company to see if they accept credit card payments and, if so, what the charges are.
Can I pay my utility bills with a debit card?
Most utility companies allow their customers to pay with debit cards. Bill payments are deducted directly from your bank account, so there are usually no additional charges on your balance. Many utility companies also accept direct ACH payments if you provide your bank account information.
Can I pay for my streaming service with a credit card?
yes. All major streaming services accept credit card payments, and usually at no additional cost. Check out the best credit cards for streaming services for the best strategies to maximize your rewards.
*All information regarding the Venmo credit card is independently collected by CNET and has not been reviewed by the issuer.
The editorial content on this page is based solely on the objective and independent evaluation of our writers and is not influenced by any advertising or partnership. It is not provided or commissioned by any third party. However, we may receive compensation for clicking links to products or services offered by our partners.
[ad_2]
Source link
