While there are many online rent payment services available now, RedGirraffe is my go-to service for rent payments by credit card for its lowest convenience charges and seamless biller-based payment service. HSBC has a RedGirraffe offer for making rent payments using HSBC credit cards. Here are the details:
HSBC RedGirraffe Offer Details
|Offer||Pay rent using HSBC credit card on RedGirraffe RentPay and get 5% of one month’s rent as cashback|
|Eligibility||All HSBC credit cards (except Corporate)|
|Minimum Rent Payment||Rs 20000 (excluding charges)|
|Number of Rent Payments and Offer Validity||A minimum of 4 rent payments (one in each calendar month) from 1 April 2021 to 30 September 2021|
|Maximum Cashback||5% of one month rent up to Rs 5000|
|Fulfillment||60 days from the offer end date|
If we are paying a rent of Rs 20000 every month then, at the end of September 2021 we will be eligible for a cashback of Rs 1000 provided we have made a minimum of 4 rent payments. The higher the rent amount, the more is the benefit in this case.
RedGirraffe keeps running multiple offers round the year with most of the major credit card companies. While this is a good offer, the cashback should have been a little on the higher side from Rs 1500 – Rs 2000.
HSBC credit cards do not exactly provide high rewards, unlike HDFC Infinia / SCB Ultimate where we get 3.3% of rent payments back as rewards. For example, if we pay the same rent of Rs 20000 for 4 months using the HDFC Infinia card we would have got 2640 reward points on the card (3.3%*20000*4). This is why the offer does not make sense for someone holding super premium credit cards. But for other cases, this offer would be more rewarding.