Credit Cards Deals KrisFlyer

Offer: 1.90% fee for rental payments using your credit card with RentHero

Pay rent in Singapore with your credit card using our promo code with RentHero and 'buy' miles from 1.2 cents each

EXPIRED This article relates to an offer or promotion which has now expired.

Singapore Condo from above

Note: RentHero now has a 1.75% fee offer for all users, replacing our previous reader offers.

Just over a year ago we wrote about how you can use CardUp to make a variety of payments including your monthly condo or house rental using your credit card to earn thousands of extra miles each year for a nominal fee.

These payments are a great opportunity to boost your annual miles balance at a competitive ‘cost per mile’, provided you are comfortable to pay a little more for the privilege.

As we mentioned at the time, ipaymy is another provider offering a similar service. Note that if you don’t currently have an account with ipaymy, only new business accounts are currently being accepted, not personal ones.

Well the newest company on the scene is RentHero, and while ipaymy and CardUp allow some other payments such as tuition fees, condo fees, income tax and property tax, RentHero, as its name suggests, specialises purely in rental payments to your landlord.

RentHero Logo.png

The company launched in November last year and has reached out to us with a great offer for our readers.

New RentHero customers making rental payments between today and February 2020 who apply promotion code MAINLYMILES will enjoy a discounted fee of 1.90%. This applies to both one-time and recurring payments.

That’s a 15% saving on the usual fee RentHero charges, already a competitive rate in the market at 2.25%.

Successful payments using RentHero with our promotion code pay MainlyMiles an affiliate commission.

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Supported cards

RentHero currently supports seven major miles earning credit cards in Singapore.

Card Miles per S$1 Cost per mile
(1.9% fee)
Card.pngBOC Elite Miles 1.5 1.24¢
Altitude Card.jpg
DBS Altitude Visa
1.2 1.55¢
HSBCvi.png
HSBC Visa Infinite
1.25 1.49¢
Prioriry VA Card.png
Standard Chartered Priority Banking Visa Infinite
1.2 1.55¢
image_standard-chartered-visa-infinite@2x02.png
Standard Chartered Visa Infinite
1.4 1.33¢
Card Big.jpg
UOB PRVI Miles (Visa & Mastercard)
1.4 1.33¢
$UOB Reserve 3.png
UOB Reserve
1.6 1.17¢

The top two here for value are the UOB Reserve Visa, at 1.17 cents per mile, and the more accessible BOC Elite Miles card at 1.24 cents per mile.

Even at the upper end, 1.55 cents per mile with cards like the DBS Altitude Visa are justifiable miles purchase rates for most (we aim to get 2+ cents per mile on redemptions and actually achieve closer to 3 cents per KrisFlyer mile, even by some pessimistic valuation assumptions).

Singapore Condo.jpg
Paying a small fee on top of your monthly rental payment in Singapore can unlock tens of thousands of additional frequent flyer miles per year

You’ll notice a couple of popular credit cards are missing from RentHero’s list, that’s due to the nature of RentHero being a rental payments only facility, with that payment category except from miles earning in the terms and conditions of certain cards like the Citi PremierMiles Visa and OCBC Voyage.

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Miles earned example

Here’s how RentHero illustrates the number of miles you can earn in a year, with an example for a rental payment of S$5,000 per month using the BOC Elite Miles World Mastercard as the payment method (earning 1.5 miles per S$1 spent).

5k example 1.jpg

In this example you’re ‘buying’ miles at 1.47 cents each (S$1,350 / 92,025). That’s based on the standard 2.25% fee charged by RentHero.

Let’s take a look at the same rental over a year, paid using the MAINLYMILES promo code with a 1.90% fee.

5k example 3.jpg

First thing you’ll notice is that you’ll actually earn fewer miles using our promo code. That’s because the fee is lower, and since the fee is also charged to your credit card it is also eligible for miles earning.

The key here is the rate at which you’re buying the miles. With this lower 1.90% fee, assuming you are using the BOC Elite Miles card, the miles ‘purchase’ rate is 1.24 cents each (S$1,140 / 91,710), over 15% cheaper than at the normal rate.

Bedtime96.jpg
91,500 miles is enough to fly Singapore Airlines’ latest 2017 Business Class to Hong Kong, not for one passenger, not even for two, but for three of you. (Photo: MainlyMiles)
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Alternatives

RentHero won’t always be the cheapest way to buy miles when making your monthly rental payment, even using our 1.9% promo code, so remember to shop around.

For Citi credit card holders in Singapore, following a trial last year PayAll now offers a 2.0% fee (1.5% for some users), as we reported last week. Given that Citi cards are not eligible RentHero payment methods, PayAll may be your cheapest option.

If you’ve been selected for the 1.5% fee, with the exception of the Citi PremierMiles Visa, it basically is the cheapest method around.

The following table assumes the 1.9% promo code for RentHero, compared with the regular rates for CardUp, ipaymy and Citi PayAll.

Cents per mile analysis for rental payments by card

Card RentHero CardUp ipaymy Citi PayAll
1.5% 2.0%
AMEXKFbluelarge.png
AMEX KF
n/a 2.30¢ 2.90¢ n/a
AscendCC.png
AMEX KF Ascend
n/a 2.11¢ 2.66¢ n/a
Card.pngBOC EM 1.24¢ 1.69¢ 1.47¢ n/a