Tired of missing rent payments and stressing over late fees? You can now easily pay your rent using a credit card with just a few simple steps! To get started, all you need is an account with Magicbricks and a credit card, debit card, or prepaid visa.
Magicbricks has introduced a new feature called Pay Rent by Credit Card, offering similar alternatives to No-Broker with a 1% processing fee. The rent payment process is as straightforward as other rent apps.
Here’s everything you need to know about it.
What is Magicbricks?
Magicbricks is a popular platform in India where property buyers and sellers can easily find properties of interest and access information on all property-related matters. It’s a wholly-owned subsidiary of Bennett, Coleman & Co. Ltd (The Times Group).
Founded by Mr. Sudhir Pai, the owner of the Times Group, Magicbricks has recently introduced the Pay Rent with Credit Card service. This addition to their platform was a natural progression, as competitors are already offering similar features.
To pay rent through a credit card, simply visit the Magicbricks website and select the Pay Rent option.
Magicbricks has a simple flat fee just like their competitors. Payment can be made using either a VISA or a Mastercard credit card.
| Payment Options | Processing Fees |
| Credit Cards | 1 % ( Flat) Update: Now Zero Fees |
| UPI | Nil |
Rent Payment Process
Paying your monthly rent through this process is easy, quick, and rewarding. Here are the details to get started:
- Provide your rent and landlord’s account details
- Make payment using your credit card
- Landlord gets the rent within 3-4 days
How to pay Rent through Magicbricks, Here are all the Steps.
- Open Magicbricks online website or App.
- To begin, open the Magicbricks website or app. Enter the rent amount, residing city, landlord name, and bank account details.
- Then, click on “Make a Payment.” Keep in mind that providing property details is mandatory to avail of benefits under Income Tax. In other apps like CRED and NoBroker, address details are compulsory.
- Choose payment Method(CreditCard/UPI)
- Next, choose your preferred payment method. You have options like Credit Card, Debit Card, or Net Banking. However, since you’re interested in using a credit card, go ahead and select “Credit Card” as your payment method.
- Once you’ve selected “Credit Card” as your payment method, verify it by entering the OTP received from your credit card provider. After completing the payment, the rent will be transferred to your landlord’s account within 30 minutes.
- You’ll receive a rent slip in your email inbox for your records.
My Experience
I followed the payment process described above and made a test payment of Rs. 35,000 to my own account.
Magicbricks states that it typically takes up to 4 working days to transfer the rent to your landlord’s bank account. However, in my case, the rent was transferred within just 30 minutes.
Magicbricks keeps you informed by sending notifications via SMS and email once the payment has been transferred to the landlord’s account.
Bottomline
Magicbricks is definitely a strong option for paying rent by credit card, alongside competitors like NoBroker and RedGirraffe. NoBroker offers similar processing fees and payment options, but Magicbricks also provides PayZapp offers, making it even more attractive.
When using Magicbricks to pay rent by credit card, the transaction is reported as a utility payment. Some credit cards, such as Amex, may not offer reward points on utility payments. However, you might still be eligible for milestone benefits and annual fee waivers where applicable.
Have you used Magicbricks to pay rent by credit card? Feel free to share your thoughts and experiences in the comments below.
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