Rent payment through IDFC card via payzapp wallet load

[ritvik_joshii]

Is it a good idea to pay rent payment through redgiraffe via payzapp loading through IDFC wealth credit card as it gives around 1.5-2.5% return on wallet loads and redgiraffe charges like 0.39% fees. So effectively we might get 1.2-2.2% back on rent payments.
Please let me know if I am missing something or there is a catch here

Thanks!

 

[ritvik_joshii]

Is it a good idea to pay rent payment through redgiraffe via payzapp loading through IDFC wealth credit card as it gives around 1.5-2.5% return on wallet loads and redgiraffe charges like 0.39% fees. So effectively we might get 1.2-2.2% back on rent payments.
Please let me know if I am missing something or there is a catch here

Thanks!

Please let me know if rent payment through payzapp wallet/ prepaid card is possible

 

[sourpai]

Please let me know if rent payment through payzapp wallet/ prepaid card is possible

Did you try out IDFC cc to load Payzapp wallet?

 

[shenoyanil98]

Is it a good idea to pay rent payment through redgiraffe via payzapp loading through IDFC wealth credit card as it gives around 1.5-2.5% return on wallet loads and redgiraffe charges like 0.39% fees. So effectively we might get 1.2-2.2% back on rent payments.
Please let me know if I am missing something or there is a catch here

Thanks!

Yes it works as you said but the catch is after 2-3 months IDFC will not allow you to load the payzapp wallet, happened with me.

 

[tekina]

Amex and Mobikwik are still king when it comes to rent payment, even with recent Mobikwik devaluations.
Otherwise Nobroker and Au Zenith+ CC gives a flat return of 0.7% when the bill is paid using HDFC Billpay to get another 1% back.

 

[abhiver]

Is it a good idea to pay rent payment through redgiraffe via payzapp loading through IDFC wealth credit card as it gives around 1.5-2.5% return on wallet loads and redgiraffe charges like 0.39% fees. So effectively we might get 1.2-2.2% back on rent payments.
Please let me know if I am missing something or there is a catch here

Thanks!

You Forget that 1.18% extra fee charged by IDFC on use of rental payment.

This will remove all your gain, also there is no 10X point or qualification to that threshold.

In 2024, I have given up on payment of rent through credit card as banks started treating it as mini loan by charging 1%+ GST

 

[abhiver]

Amex and

Amex and Mobikwik are still king when it comes to rent payment, even with recent Mobikwik devaluations.
Otherwise Nobroker and Au Zenith+ CC gives a flat return of 0.7% when the bill is paid using HDFC Billpay to get another 1% back.

Amex and MobiKwik,.... How?

I don't get option to pay through Amex card on MobiKwik for rent payment.

 

[shenoyanil98]

You Forget that 1.18% extra fee charged by IDFC on use of rental payment.

This will remove all your gain, also there is no 10X point or qualification to that threshold.

In 2024, I have given up on payment of rent through credit card as banks started treating it as mini loan by charging 1%+ GST

There is no charge for wallet loading in IDFC and also you get the reward points also but the problem is they don't allow you to load the wallet after a few months.

 

[tekina]

Amex and

Amex and MobiKwik,.... How?

I don't get option to pay through Amex card on MobiKwik for rent payment.

Load Mobikwik wallet with MRCC card, 15000 using Century coupon code.
413 is the fees charged by them for this.

You get 100 back as CB.
Paying the CC bill using HDFC Billpay and Easyshop Plat DC gives back 154.
15413 gives 308 MR points which is equal to 101 with 0.33 conversion.

You are getting back 355 out of the 413. 58 still remains.

Getting to the 20k transaction and 1500 times 4 transactions gives you 2100 more points at least. That's almost 726 with the same conversion ratio of point 33. Adding 50 for the bill pay CB for that 5k.

You are making 718-ish rupees back at the end of all this.

That is still around 3.4% for this entire ordeal. Please keep in mind I made this calculation using my rent amount of 21k.
If your rent amount is higher, AU Zenith+ makes the most sense with flat 0.7%.
Amex MRCC peaks its return ratio at 20000 spends per month and goes down from there as you spend more.

Even if I calculate with a rent of 30k per month, the return rate is still 1.8% .

Please consider the fact that I do not hold premium cards like Atlas/Magnus/Infinia which can give potentially higher returns.

 

[abhiver]

There is no charge for wallet loading in IDFC and also you get the reward points also but the problem is they don't allow you to load the wallet after a few months.

I guess it has been showing as PZRENT in the statement and IDFC consider it as Rent payment not wallet load.

 

[shenoyanil98]

I guess it has been showing as PZRENT in the statement and IDFC consider it as Rent payment not wallet load.

It shows as PAYZAPPWALLET, MUMBAI when you load payzapp wallet

 

[abhiver]

It shows as PAYZAPPWALLET, MUMBAI when you load payzapp wallet

Okay so it is possible to pay rent through wallet load in payzapp

 

[shenoyanil98]

Okay so it is possible to pay rent through wallet load in payzapp

Yes I have paid many times but last time on 29th feb wallet option was not showing in payzapp for sometime but it worked after sometime

 

[VikasBhindwar]

Can anyone confirm if SC Smart CC still gives 2% on rent via RG on Payzapp without any additional surcharge?