Comments on: Has anyone ever heard of a realty company accepting credit cards to pay security deposit on a rental home?

By: wickdsinnr

wickdsinnr — Sat, 27 Feb 2010 15:14:59 +0000

At my property, we accept Visa, MC and Discover for anything, including a deposit. It’s quick, easy, and we’re notified instantly when we run it if it’s gone through or not. My company uses an online credit card merchant to run credit cards on – we type in the number and it processes instantly.

There’s no disputing or cancelling it once it’s been run – I’ve never run into that problem in the 3 years we’ve been accepting credit cards as deposits. We even have a way for residents to sign up with a credit card or checking account to have the monthly rent and utilities to be automatically deducted once a month.

The only credit card we don’t accept is American Express, due to the extremely high merchange fees for processing it.
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By: Trouble

Trouble — Sat, 27 Feb 2010 15:04:59 +0000

Credit card charges can be disputed and reversed. Any landlord would have to be insane to accept credit cards for rent or security deposit payments.
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By: frankie b

frankie b — Sat, 27 Feb 2010 14:53:59 +0000

Not to my knowledge. Plus they will have your card on file so if there are problems when you move out they could just charge you. I would find the cash. Cash advance the credit card if you have to.
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By: acermill

acermill — Sat, 27 Feb 2010 14:42:59 +0000

I'm not doing it yet, but am strongly considering doing so. Seems these days that folks are more attuned to living on credit than they are checking accounts or cash, so I may as well join the trend.
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By: newjerseyguy

newjerseyguy — Sat, 27 Feb 2010 14:29:59 +0000

If you have to charge the security deposit, are you going to be able to pay the monthly rent?
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