Best Credit Cards For Rental Payments

Editor’s note: This is a recurring post, regularly updated with new information and offers. Last updated 2nd May 2023.

Everyone is looking for the best credit cards list so this is a complete article on the best credit cards for Rent Payments. Only a handful of such cards exist nowadays since most banks are tightening their noose on rental payments and wallet loads using credit cards.

This list along with our Rent Payment Guide will help you get the best rewards and practices around it.

So let’s check out the list!

Best Credit Cards for Digital Rental Payments

Axis Reserve

• Reward rate on Rent Payments: 1.5% (Amazon Vouchers) to approx 6% (Airmiles/Hotel Loyalty Points).
• Capping on Rent Payments: Points accrued only up to ₹1L per transaction, no limitation on multiple transactions though.
• Rent Payment Surcharge: 1%+GST on all transactions maximum up to ₹1500 and rental payments not counted in the annual fee waiver.
• Joining Fee: ₹50000+GST
• Annual Fee: ₹50000+GST (Waived off on annual spending of ₹25L).
• Milestone Benefits: None

Axis Magnus

• Full Review
• Reward rate on Rent Payments: Base: 1.2% (Amazon Vouchers) to approx 4.8% (Airmiles/Hotel Loyalty Points)
• Capping on Rent Payments: Points accrued only up to ₹50K per transaction, no limitation on multiple transactions though.
• Rent Payment Surcharge: 1%+GST on all transactions maximum up to ₹1500 and not included in monthly milestone.
• Joining Fee: ₹10000+GST
• Annual Fee: ₹10000+GST (Waived off on annual spending of ₹15L but rental payments not counted).

AU Zenith

• Reward rate on Rent Payments: 1.25% (Reward Rate) to ~1.75%(Milestone)
• Capping on Rent Payments: None.
• Applicable Charges on Rent Payments: No Charges for 1st transaction every month.
• Joining Fee: ₹7999+GST
• Annual Fee: ₹7999+GST
• Milestone Benefits: Rs 1000 gift vouchers on ₹2 Lakhs of retail spends per calendar quarter
  Complimentary Epicure Membership on ₹8 Lakhs retail spends in a card anniversary year.

SBI Vistara Prime

• Full Review
• Reward rate on Rent Payments: 2% (CV Points) to ~8.5% (₹8L Milestone)
• Capping on Rent Payments: None.
• Applicable Charges on Rent Payments: 199+GST per transaction.
• Joining Fee: ₹2999+GST
• Annual Fee: ₹2999+GST (1 Premium Economy ticket as an E-Gift Voucher on payment of the renewal fee)
• Milestone Benefits:

Quite a lucrative card that rewards fuel, rent and wallet spending and if you can reach all those milestones then you get to earn a whopping 8.5% Reward Rate! But remember you will be charged ₹99 + GST for rent payments on this card hence use it only if your rent payment amount is significant. Click on the banner below to apply for this card and get a voucher worth ₹500 on making your first transaction of ₹500 and above.

Standard Chartered Smart

• Full Review
• Reward rate on Rent Payments: 2% Cashback
• Capping on Rent Payments: None.
• Rent Payment Surcharge: 1%+GST on all transactions.
• Joining Fee: ₹499+GST
• Annual Fee: ₹499+GST (Waived off on annual spending of ₹1.2L)
• Milestone Benefits: None

Another straightforward credit card from Standard Chartered offers a flat cashback on online spending including wallet loads and Rent Payments.

TechnoFino Tip – Apply for supplementary cards if you are regularly crossing the monthly cashback threshold.

Standard Chartered Ultimate

• Full Review
• Reward rate on Rent Payments: 2% (Gift Vouchers)
• Capping on Rent Payments: None.
• Rent Payment Surcharge: 1%+GST on all transactions.
• Joining Fee: ₹5000+GST
• Annual Fee: ₹5000+GST (5000 Reward Points on renewal fee payment)
• Milestone Benefits: None

The ultimate winner for all your rental payments and wallet loads!

Yes Private

• Reward rate on Rent Payments: 2% Cashback
• Capping on Rent Payments: None.
• Rent Payment Surcharge: 0.5%+GST on all transactions.
• Joining Fee: ₹50,000+GST
• Annual Fee: ₹10,000+GST (Waived off on annual spending of ₹25L)
• Milestone Benefits: None

Rewards Summary

Since the reward rate is highly dependent on the type of redemption a user is seeking so I am prioritizing this list basis the highest core reward rate of the cards irrespective of the redemption mode used.

We have excluded cards which are giving less than 2% reward rates since the majority of rental payment portals usually charge more than 1.5% as charges.

TechnoFino Recommends

I have made a very specific list especially as the noose around the rental payments is getting tighter and tighter by the banks every month. Since rental payment is a significant expense for every household I recommend everyone to get a card from this list if they have a rental property, school fees, or maintenance charges to be paid every month.

So if you are into international travel then Axis Magnus looks best since then you will be able to complete the 1L monthly milestone by paying your monthly rent. Magnus works even if you want vouchers from your card or If you like direct statement credits then Standard Chartered Smart is the best option. For domestic travel Axis Vistara Infinite or SBI Vistara Prime would be an ideal choice if you can complete those milestones.

With many people using it as a tool for credit rotation by doing fake rent payments, I can’t blame the banks for such moves. But instead of excluding rent payments completely from the reward structure the banks should partner with payment portals and allow genuine users to keep on earning rewards which can be a win-win situation for the banks too. I have prepared a Rent Payment Guide here which answers most of the related questions.

Which card do you use for rental payments? Share your strategy in the comments below. For more such insightful content follow me on Twitter.

Bhavye Goel

Chief Editor, TechnoFino.
Personal finance nerd! Physics enthusiast and trainer. When not into Physics, he is minting points and hunting for the next best credit card for himself.