RoomiPay Changes Fee Structure For Credit Card Rent Payments

It's no surprise that I'm really enjoying RoomiPay's new rent payment service that accepts credit cards. Since it launched in December, the first 75 people to pay rent each month have been able to use a credit card with no processing fee—what's not to love about that?!

Check out The Complete Guide To RoomiPay for a rundown on how to use the service and the best credit card to use.

Last month, I noticed that they offered payments later in the month with a 2.5% processing fee plus $30 to expedite a rent check. This had me curious so I reached out to them to see what we can expect going forward. The short answer is they don't have a long-term answer, but I can share what is coming this month.

There will be four tiers of payments in March. Here's what you can expect:

  • First 50 people: No fee
  • Next 150 people: 2% fee
  • Next 100 people: 2.5% fee
  • Everyone else: 3% fee

If the competition among miles and points enthusiasts for fee-free rent payments wasn't already enough, this will only make it more intense. They've reduced the fee-free payment slots by 25 and even limited the number of people who can get the 2% or 2.5% fee.

RoomiPay expects to start accepting payments on March 15 this month, but that could change. If you want a shot at a fee-free way to earn miles or points for rent, I'd be ready on March 15. I'll update this post if I hear of a date change.

Once payments can no longer be delivered by the 1st of the month, RoomiPay will add a $30 fee to expedite rent checks.

While I certainly expected the fee-free payments to be scaled back, it's disappointing to see the 2% fee option scaled back significantly. If you aren't one of the first 200 people, you can just as easily use Plastiq with their 2.5% fee.

If you manage to be one of the first 50 users this month, you can earn whatever points suit your needs. Once 2% is the option, hitting minimum spends starts to be more important. Other than that, you can earn 3X ThankYou Points with the Citi Access More card or 3X Membership Rewards points with the Business Gold Rewards Card from American Express.

It might be worth it to you to use the Blue Business Plus from American Express to earn 2X Membership Rewards points. Other than that, you're left with cards that provide big spend bonuses such as elite status but I'd think long and hard about whether that would be worth it.

At this point, it doesn't appear that Roomi is looking to compete with Plastiq as it continues to limit the payment window and increase fees. Hopefully, they'll be able to expand at least a little to give Plastiq some competition.

Hopefully, we'll see more services like Cirtru pop up which allows you to pay rent via credit card if your landlord lists your room or apartment on their site. Currently, Cirtru is running a fee-free promotion for credit card rent payments on its platform.

In the meantime, mark your calendars for March 15 for your shot at fee-free rent payments with RoomiPay.

May the odds be ever in your favor.

Quick Side Bar: Delayed Checks

In full disclosure, some payments submitted in January for February rent experienced a delay, mine included. However, RoomiPay was very responsive to my direct messages to them on Twitter—seriously, if you have a question, DM them.

They expedited my rent check once they found the problem and offered to reimburse me if I was hit with any late fees. On top of that, they offered two months of fee-free rent payments. I haven't heard of any issues with payment dues at the beginning of March so that's a good sign.