CHARGE IT- USING PLASTIC TO PAY THE RENT
June 5, 2002
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The Wall Street Journal reported that credit card companies are pushing people to charge big-ticket items, including rent at some apartment complexes. Since merchants pay the credit card companies about 2% of each purchase, credit card issuers want people to use the card in new places for bigger purchases.
You can already use cards for many everyday expenses, including groceries, pharmacy purchases, gasoline, IRS taxes, and restaurants. Lately, card issuers are concentrating on “recurring payments” such as utility bills, rent, pledges to charities, and university tuition. The next push will be to have banks and mortgage companies permit mortgage and other loan payments to be charged, and perhaps also to buy a car using a credit card. Hold onto your wallet!
