Rental

RentHero extending 1.85% rental payment promo till June 2020

RentHero is maintaining its 1.85% rental payment fee for a further 6 months, allowing the purchase of miles from 1.14 cents each.

In July this year, RentHero cut the admin fee on rent payments for Milelion users from 1.9% to 1.85%. This allowed users to buy miles from as low as 1.14 cents each, depending on the card used.

RentHero has informed me that they’re extending this promotion till 30 June 2020.

Sign up for RentHero and enjoy a 1.85% fee

All users who sign up via the link above will enjoy a rate of 1.85% until 30 June 2020, after which they’ll enjoy a rate of 1.9% for all payments up till 12 months from their sign up date. This same benefit applies to existing users and should be automatically applied to your future payments (if not, look out for a promo code sent to your email). 

How does this affect the cost per mile?

Here’s what a 1.85% fee means for your cost per mile:

Card MPD Cents Per Mile
DBS Altitude VisaKrisFlyer UOB Credit Card
SCB X Card
1.2 1.51

HSBC Visa Infinite (≥$50K spending in past year)

1.25 1.45
UOB PRVI MilesSCB Visa Infinite (≥$2K per month)UOB Visa Infinite Metal Card 1.4 1.30
BOC Elite Miles World Mastercard 1.5 1.21
UOB ReserveDBS Insignia 1.6 1.14
Citi and OCBC do not award points for rental payments, and RentHero cannot guarantee you’ll earn points with these cards
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I’m assuming the UOB Reserve and DBS Insignia are out of reach to most people, but otherwise you can buy miles at 1.21 cents with the BOC Elite Miles World Mastercard, or 1.3 cents with the UOB PRVI Miles card. 

Here’s how this price compares to other ways of buying miles in Singapore:

MethodIncome RequiredCPMAnnual Miles Limit
DBS Insignia + RentHero$500K1.07Rental amount
SCB Visa Infinite Tax Payment (≥$2K p.m) $150K1.14Tax bill
BOC Elite Miles + RentHero$30K1.15Rental amount
HSBC Visa Infinite Tax Payment (≥$50K in prev. yr)$120K1.2Tax bill
SCB Visa Infinite (≥$2K p.m) + RentHero UOB PRVI Miles: $30K
SCB Visa Infinite/ UOB Reserve: $150K
1.23Bill amount
HSBC Premier MC Tax PaymentAUM: $200K1.25Tax bill
Citi Ultima + PayAll$500K1.25Bill amount
HSBC Visa Infinite Welcome Gift- Premier customer $120K + AUM $200K1.3935K
SCB Visa Infinite (≥$2K p.m) + EasyBill$150K1.43Bill amount
DBS Altitude/SCB X Card + RentHero$30K1.43Rental amount
BOC Elite Miles + CardUp (GET225)$30K1.47Bill amount
HSBC Visa Infinite Tax Payment (<$50K in prev year)$120K1.5Tax bill
Citi Prestige + PayAll$120K1.54Bill amount
UOB PRVI Miles + CardUp (GET225)$30K1.57Bill amount
SCB Visa Infinite Tax Payment (<$2K p.m)$150K1.6Tax bill
Citi PremierMiles + PayAll$30K1.67Bill amount
SCB Visa Infinite Welcome Gift$150K1.6835K
HSBC Visa Plat/Revolution Tax Payment $30K1.75Tax bill
Cardup with DBS Altitude/Citibank PremierMiles$30K1.83Bill amount
HSBC Visa Infinite Welcome Gift- Regular Customer $120K1.8635K
OCBC VOYAGE Tax Payment$120K1.9Tax bill
UOB Reserve VI Payment FacilityInvitation1.9Unlimited
Citibank PremierMiles, DBS Altitude, KrisFlyer UOB Card, OCBC 90N Annual Fee$30K1.9310K
OCBC VOYAGE Payment Facility $120K1.9 or 1.95Unlimited
UOB PRVI Pay Facility $30K2.0Unlimited
UOB VI Metal Payment Facility $150K2.0Unlimited
SCB Visa Infinite (<$2K p.m) + EasyBill$150K2.0Bill amount
OCBC VOYAGE Annual Fee- Option 2$120K2.14150K
Citi Prestige Annual Fee$120K2.1425K
DBS Altitude Tax Payment $30K2.5Tax bill
OCBC VOYAGE Annual Fee- Option 1$120K3.2515K

How to make a payment with RentHero

In case you need a refresher, here’s a quick guide to getting started with RentHero. You can access the 1.85% admin fee by signing up through The Milelion’s link. Once done, you should be directed to this sign up page.

After signing up, you’ll receive an email with your 1.85% promo code. This is for future transactions- your first transaction will in any case reflect the discounted 1.85% rate already. There’s no limit to the number of transactions you can make with your 1.85% promo code.

You’ll see your dashboard after that. Click on the “Get Started” box to pay rent with your credit card.

You’ll be prompted to enter your monthly rental amount, and whether you want to make a one-time or monthly payment. You should see the discounted service fee of 1.85% automatically on the top right of your screen.

Follow the instructions to create and activate your account. Once done, you’ll be brought back to the RentHero platform where you’ll enter your landlord’s details and upload the tenancy agreement.

The final step is to enter your credit card details.

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That’s it! You’ll see a summary of your scheduled rental payments. Be sure to double check that the 1.85% admin fee is properly reflected. If the first rental due date is the earliest possible date that can be chosen on RentHero, payment will be charged immediately. Otherwise, payments are charged at 2pm on the charge date.

You can subsequently edit transactions if you need to, but the service fee will revert to the default 2.25%. It’s better to delete the transaction and add it back again as a new payment to enjoy the 1.85% rate.

All payments should be made at least 6 business days in advance if the rental due date falls on a weekend/public holiday, or 5 business days in advance otherwise.

Any questions or tech support requests can be sent to the RentHero team at [email protected]

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