How to Pay Rent with a Credit Card in Hong Kong (Rentsmart/KeyChain Pay/Reap/Citi PayAll)

How to Pay Rent with a Credit Card in Hong Kong (Rentsmart/KeyChain Pay/Reap/Citi PayAll)

What if we told you that you could earn cashback or miles just by paying your rent with a credit card? That’s right, by paying a small transaction fee (which can be covered by the rewards), you can already enjoy the cashback rewards from your credit cards! Our comparison guide will help you maximize your rewards and make the most of your rent payment. So, keep reading to learn more!

How can you pay your rent with a credit card?

Paying rent with a credit card requires going through an intermediary. In simple words, you pay rent with a payment app with a credit card, where you will be charged a small transaction fee while earning credit rewards at the same time. When the cash rewards are greater than the transaction fee, you can essentially earn more without spending more. Here is an overview of the most popular rent-paying platforms:

  Transaction Handling Fee Rental Property Type Types Of Credit Cards For Points Accumulation
RentSmart Visa credit card: 1.5%
MasterCard credit card: 1.5%
Airwallex Visa: 1%
Private Residential Property / Co-working space Visa/MasterCard/UnionPay credit cards
KeyChain Pay Varies per credit card (2.1%-3.3%) Private Residential Property / Office Visa/MasterCard/American Express credit cards
Cardup Varies per promotion (0%-3.5%) Private Residential Property / Office Visa/MasterCard/UnionPay credit cards
Citi PayAll Varies per transaction (up to 4%) Private Residential Property / Office Citibank credit cards

RentSmart

RentSmart offers a hassle-free way to pay rent with credit cards with a reasonable transaction fee. However, this service is currently limited to residential properties in Hong Kong and is not applicable for public housing, shops, or office space rent payments. For an additional fee, landlords can enjoy enterprise-level rental management services and rental protection. 

But note that the payment is processed within 3 working days, so it’s best to plan ahead and pay rent in advance.

RentSmart Transaction Fee

Credit Card Type Transaction Fee Promotional Offer
Visa/Master Credit Card 1.5%-2.6%
Prime Credit EarnMORE Union Pay Card HK$10 per transaction Get 3 months free by using specific coupon codes during registration. Visit the RentSmart website for more details.
CCB (Asia), AEON, BEA, Dah Sing and HSBC Unionpay Credit Card HK$25 per transaction
Airwallex Visa Card 1%
^Promotion offers updated as of August 3,2023

How To Use RentSmart?

  • Download the “RentSmart” app and register for a free account
  • Provide an email and identity card for verification (It takes around 1 working day.)
  • Select “Residential Rent” and fill in the lease information, tenant information, and landlord collection information
  • Take a photo and upload the lease for verification (about 1 working day)
  • After successful verification, you can pay rent with a credit card.

AirWallex x RentSmart special offer

You can now enjoy a 10% discount on workspace rental and get a 1% transaction fee from RentSmart with an AirWallex credit card.

Airwallex 空中雲匯 logo
MoneySmart Exclusive
Save time opening accounts across the globe
Monthly Account Fee
0
Minimum Initial Deposit
N/A
New Funds Offer
$0 fees and 0% margin in FX conversions
Sign up for your first $100,000 of foreign exchange free!
Valid until 30 Sep 2023

KeyChain Pay

KeyChain Pay offers a seamless solution for paying rent in Hong Kong. With the option to use credit cards, Apple Pay, or Google Pay, tenants can earn flight miles or cash rewards while paying their rent through the online platform or mobile app. Not just limited to residential rent, it also covers monthly or annual parking, co-working spaces, and serviced office rentals.

KeyChain Pay creates a digital contract between tenants and landlords, and rent is collected from the credit card about 2 weeks before the monthly lease effective date.

With competitive transaction fees and an intuitive user interface, KeyChain Pay makes paying rent a breeze for residential, commercial, and office properties in Hong Kong and beyond. Plus, you can even use up to 3 credit cards for each transaction, so you can split the bill to maximize the returns without breaking the spending threshold.

KeyChain Pay Transaction Fee

Credit Card Transaction Fees
HSBC Credit Card 2.1%
Local Business HSBC Credit Card 2.6%
Local Personal Mastercard 2.1%
Other Mastercard / Visa / Apple Pay / Google Pay 2.9%
American Express 3.3%

How To Use KeyChain Pay?

  • Download the “KeyChain Pay” app and register for a free account
  • Choose the property category for the rent payment
  • Set up a smart contract (enter property address, credit card information for payment, rent, and landlord account information, etc.)
  • Rent will be automatically deducted from the credit card and deposited into the landlord’s account every month.

Cardup

Cardup offers a smart solution for SMEs or corporate entities to pay bills with credit cards, thereby earning rewards and improving cash flow. With Cardup, you can pay for a variety of expenses, such as rent, tuition and education fees, insurance premiums, supplier fees, salaries, and more.

Transaction Fees

A normal transaction usually takes up to 2.6%, but Cardup offers limited time offers for new customers. You may find some surprising offers on their website.

Normal Charges Promotional Offers
Locally-Issued Credit Cards 2.6% 0% fee for first HK$ 8,888 payment^
1.85% fee for recurring payment^
Internationally-Issued Credit Card 3.5%
^Promotion offers updated as of August 3,2023

Citi PayAll

Citi PayAll, a platform offered by Citibank, enables users to pay for rent, property management fees, parking fees, and tuition using any Citibank credit card through their mobile app. With a monthly transaction limit of HK$50,000 and a maximum of 10 transactions per month, a 1% transaction fee is required for each transaction on the platform. 

Transaction Fee

The transaction fee is subject to variation and will be adjusted by the bank in accordance with market changes. Currently, the basic fee is set at 1% for each transaction. However, you have the option to waive the charge by forgoing the cash rebates.

How to Use Citi PayAll?

Select “Pay Bills” and “Citi PayAll” on the Citi Mobile® App, enter payment details, including the recipient’s name, bank number, branch number, and account number, select the payment credit card, and choose between a single payment or monthly payment for the next billing period. Review and confirm payment (payment must be set at least 7 days in advance).

Citi Credit Card Only

Citi PayAll only accepts Citibank credit card transactions. For instance, with the Citi PremierMiles credit card, every HK$8 spent locally earns 1 mile. With a monthly payment of HK$30,000, users can earn up to 45,000 miles per year, enough to redeem for round-trip tickets to Sydney! It’s like earning a free vacation just by paying your rent. (Checkout more details about Cathay Pacific Miles Redemption)

Citibank 花旗銀行 logo
MoneySmart Exclusive
Free travel insurance and airport lounges access
Minimum Income Requirements
HK$120,000
Miles Conversion (local spend)
HK$8 = 1 mile
Miles Conversion (overseas spend)
HK$3 = 1 mile
MoneySmart Exclusive:

From 21-30 September 2023, new customers register for designated Citi Credit Cards via MoneySmart, upon a spending amount of HK$2,000, you can earn HK$1,600 Apple Store Gift Card / HK$1,600 ParknShop vouchers / JBL Tour Pro 2 Headphones (Valued at HK$1,999)



【HK$300 Referral Rewards】Refer your friends to apply for designated Citi Credit Cards online and activate the new cards with a spending amount of HK$2,000, you can receive an extra HK$300 PARKnSHOP Supermarket Voucher for every successful referral. Add value service transactions to your digital wallet like Payme/ Alipay HK is eligible spending.

Valid until 30 Sep 2023

What should you pay attention to when paying rent with a credit card?

When it comes to paying rent with credit cards, there are a few things to keep in mind.

Maximum monthly rewards

One of the most important is the maximum monthly reward that each credit card offers. Be sure to check this, as exceeding the maximum amount means you won’t earn any rewards for paying your rent with that card. So, choose wisely and reap the most rewards possible!

Calculate cash back and transaction fees beforehand

However, not all platforms and methods are profitable. For example, using the Standard Chartered Simply Cash Visa card with Reap incurs a handling fee of 2.6%, which is $520, while the cashback for using this card is only 1.5%, which is $300. If the cashback amount is less than the handling fee, it means that users will lose money, so everyone must compare all the offers carefully.

Beware of the Miles conversion fees

When redeeming miles for flight tickets, don’t forget to factor in the conversion fee. In some cases, the fee may be higher than the rewards themselves. So, make sure to do the math before making any decisions!

Which cashback credit card is best for paying rent?

After knowing the tips for using your credit card to pay for your rent, Here are some smart credit card picks:

Hang Seng MM Power: 5% +FUN dollar rebate with online spending

Hang Seng MM Power offers a 5% +FUN dollar cash rebate in 2 selected categories: online spending, mobile payment, entertainment, overseas spending, and electronics. If you choose online spending as your category, Then you can earn up to $800+FUN dollars with a maximum spending of around HK$16,000.

恒生銀行 logo
MoneySmart Exclusive
Get 5% +FUN dollars on designated spending
Annual fee
Perpetual annual fee waiver
+FUN Dollars rebate on selected spending categories
5.4%
+FUN Dollars rebate on online retail transaction
5%
From now until 11 September, customers who successfully applied for the MMPOWER World Mastercard, and have made the transaction in an accumulated amount of HK$5,000 with the card within 60 days from the date of new card issuance, can enjoy up to 10 MCL Cinemas 2D e-Gift Vouchers or up to HK$700 +FUN Dollars! Including other promotional offers, you can earn up to $2,800 +FUN Dollars in total!
Valid until 30 Sep 2023

HSBC Visa Signature Credit Card: Get 3.6% reward cash rebate

Pay your rent with the HSBC Visa Signature Credit Card and earn a 3.6% cash rebate. Here’s how: get 2.4% from the HSBC Red Hot Rewards of Your Choice, with all extra RewardsCash allocated to the Home category, and add the 1.2% from the HSBC Visa Signature Card.

MoneySmart Tip: Pay your rent via KeyChain Pay to get a 2.1% transaction fee offer exclusively for HSBC credit cards.

HSBC 滙豐 logo
Min. Annual Salary
HK$360,000
Cash back on local spend
3.6%
Miles Conversion (local spend)
HK$2.78 = 1 Mile

EarnMORE UnionPay Diamond Card: Earn 2% cash rebate for all transactions

For those looking to earn rewards while paying rent in Hong Kong, consider using the EarnMORE UnionPay Diamond Card with RentSmart (No transaction fee is charged for UnionPay Card). By paying $20,000/month in rent with this card, you can avoid transaction fees and earn 2% cashback, which amounts to $400.

With any other eligible spending, you can earn 2% cashback right away. Just keep in mind that the 2% cashback is limited to total spending of $150,000 per year. Once you exceed that amount, the cashback drops to an unlimited 1%.

 安信信貸 logo
MoneySmart Exclusive
Earn 2% cashback from everyday spending
Min. Annual Salary
HK$0
Cash back on overseas spend
2%
Cash back on local spend
2%
MoneySmart Exclusive:

From now till 30 September 2023, customers who successfully apply for EarnMORE UnionPay Diamond Card via MoneySmart, can enjoy HK$200 Apple Store Gift Card/ HK$200 UBER Voucher/ HK$200 HKTVMall voucher(fulfilled by MoneySmart)!!



[PrimeCredit x MoneySmart] Apply EarnMORE UnionPay Diamond Card through MoneySmart and earn extra HK$200 cash rebate +Welcome offer: HK$670 cash rebate (included the extra up to 2% cash rebate) or OTO massage chair or Aurabeat AG+ Air Purifier or Up to HK$90,000 Interest-free and Handling Fee-free Cash Instalment Program. (Exclusive reward will be fulfilled by PrimeCredit) 

Valid until 30 Sep 2023
 Successfully applied through MoneySmart: Extra HK$100 cash rebate + Welcome offer: HK$670 cash rebate (included the extra up to 2% cash rebate) or OTO massage chair or Aurabeat AG+ Air Purifier or Up to HK$90,000 Interest-free and Handling Fee-free Cash Instalment Program. (Exclusive reward will be fulfilled by PrimeCredit) 
Valid until 31 Dec 2023

Which miles credit card is the best for paying rent?

Standard Chartered Cathay Mastercard: HK$6/mile for local spending

With the Standard Chartered Cathay Mastercard, you can soar your way to rewards with HK$2, equating to 1 mile for Cathay Pacific and Hong Kong Express-related spending. And that’s not all – you can earn HK$4 per mile for spending on online dining, as well as online and overseas categories, the perfect way to earn miles while paying your rent in Hong Kong.

SCB 渣打銀行 logo
MoneySmart Exclusive
Miles Conversion(Eligible spending on Cathay and HK Express)
HK$2=1 mile
Miles Conversion (Eligible spending on dining, online and overseas category)
HK$4 = 1 mile
Bank Welcome Offer
60,000 miles
MoneySmart Exclusive:

[Limited Time Offer]
Apply for Standard Chartered Cathy Mastercard now via MoneySmart to get an extra HK$600 PARKnSHOP supermarket vouchers or HK$600 Apple Store Gift Card or Apple HomePod mini (retail price: HK$749)! Enjoy up to 60,000 welcome miles!

Valid until 30 Sep 2023

HSBC EveryMile Credit Card: HK$2/mile

If you’ve spent in specific categories, you can earn up to HK$2/mile or HK$5/mile for every dollar spent on other items.

And for new cardholders, there’s a special offer where you can earn 1 mile for every HK$0.3 spent in the first HK$8,000. So, make the most of your spending and earn those miles!

HSBC 滙豐 logo
Local and oversea spending
HK$2 = 1 MIle
Minimum Annual Income
HK$240,000
Welcome Offer
Up to $1,000 RewardCash

Frequently asked questions: Paying rent with credit cards

What should be noted when paying rent with a credit card?

Remember to repay the credit card balance on time to avoid overdue interest charges.

What information is needed to use a payment platform to pay rent?

You will need a stamped lease agreement, the landlord’s bank account number and name, and the landlord’s contact information.

Is landlord approval needed to use a payment platform to pay rent?

The platform will directly transfer the funds to the landlord’s account, but to avoid disputes, it is best to notify the landlord in advance. 

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If you’re new to the world of credit cards, fret not! MoneySmart’s got your back. Check out our blog post on the Most Common Questions About Credit Cards and you’ll be a pro in no time.

Looking for credit cards in Hong Kong with no annual fee? Check out MoneySmart’s article on the best credit cards with no annual fee in Hong Kong and how to apply for a credit card annual fee waiver. Don’t miss out on these great options!

 

Wanna stay ahead of the herd? Let’s check out the MoneySmart blog for more financial tips!

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