Radpad is a service some use to pay rent with a debit or credit card. Debit card payments are free and credit card payments come with a fee. It could be worth swallowing fees to help meet a minimum spend requirement.
- RadPad – Pay your Rent with a Debit/Credit Card
- Complete List Of Options For Paying Your Rent With A Debit Or Credit Card
The new rates charged by RadPad are 1.99% for Mastercard payments and 3.49% for Visa, Amex, and Discover. (Link)
It’s curious that Mastercard is almost half the cost of Visa, although Plastiq also has run promos in the past for Mastercard specifically. Who knows?
Anyway, under the new pricing, for payments with Mastercard, Radpad is probably the best route to go at 1.99%, less than Plastiq’s current rate of 2.5% for all cards. For Visa or Amex, Plastiq is the best at 2.5%.
HT: Reader MM
Work with the folks at RadPad. Here is the blog post and press release on the change:
http://blog.onradpad.com/mastercard-is-now-offering-radpad-renters-the-lowest-credit-card-rate-in-the-entire-world/
http://www.prweb.com/releases/2016/01/prweb13155409.htm
Thanks Kyle, I’ll add the link
Hey Kyle, how’s things? If you get a chance send these types of changes to us in advance and we will happily embargo the news until the appropriate time. I’ll get in touch with Jonathan soon to talk about a promo I want to run with you guys!
Perhaps increasing visa/amex fee was part of their deal with mastercard.
Ah, that makes sense.
the first one was an issue with plastiq as far as updating the status and their verification process of type of payment, you’ll need to give it an extra few days for them to process. after the first time, its been fine. I’ve used them to delay paying get 2.63% from boa so minimal $ ahead, but get to pay it off weeks later
Anything wrong with paying your spouse for rent and have Radpad mail him/her a check? (to hit minimum spend)
They’ll ask you to send in your lease agreement documentation – they don’t accept verbal, informal leases.
You could use Venmo, but it has a 3% fee.
I’ve heard quite a few complaints about Plastiq when it comes to having physical checks mailed, other transactions seems to have less complaints. Anyone have recent experience having Plastiq mail physical checks?
This is RadPad, not Plastiq?
I figured it was relevant since plastiq is offered as an alternative in this article.
Worth noting Plastiq doesn’t have the under $5,000 limit for free debit transactions as well