Via Reddit, RadPad now charges ~$5 per month to use a debit card to pay your rent. That’s unfortunate, because paying with a debit card used to be free!
But most folks can still come out ahead if you use the PayPal Business Debit Card, because you’ll get 1% back in your PayPal account.
I’ll explain what this new fee means for you. And mention other ways to save money and earn miles & points for paying rent!
What’s the Deal?
Link: PayPal Business Debit Card
Using a debit card to pay your rent with RadPad used to be free. But now they’re charging ~$5 per month to use a debit card!
This isn’t great news, but folks who have the PayPal Business Debit Card can still make money using RadPad to pay their rent. Because you’ll earn 1% cash back in your PayPal account each month.
If your rent is $1,000, you’ll earn $10 back ($1,000 X 1%) using the PayPal Business Debit Card to pay your rent through RadPad.
After RadPad’s ~$5 monthly fee, you’ll still earn ~$5 every time you pay rent ($10 back – ~$5 fee).
It’s not a lot, but it all adds up! Especially if you pay a lot in rent.
More Ways to Pay
RadPad also added a new way to pay rent directly from your bank account. And it’s free! But you won’t earn points, miles, or cash back for your payments. 🙁Don’t forget, through December 31, 2016, you still can use a credit card to pay your rent with NO fees, when you pay with Android Pay through the RadPad app.
Or consider using Plastiq, another way to pay rent, loans, utilities, & more with a credit card.