RentHero is a service that allows you to pay rent with a credit card, earning miles and points in the process. Your landlord will be paid via bank transfer, and there’s no need for him or her to be on the platform .
Since July 2019, RentHero has been offering a special 1.85% fee on rental payments for Milelion readers. However, they’ve now reduced the fee to 1.75% across the board.
All users who sign up for RentHero will now enjoy a fee of 1.75% until further notice. This also applies to existing users, but do note that you’ll need to cancel your existing transactions and reschedule them to enjoy the lower fee.
How much do miles cost with RentHero?
A 1.75% fee brings the cost per mile really, really low. Depending on what card you use with RentHero, you’ll be able to buy miles from 1.07 to 1.43 cents each.
|OCBC, Citibank, SCB and UOB cards will not earn points or miles with RentHero. For UOB card users, the restriction takes effect from 27 March at 6 p.m. All transactions prior to that will still earn regular points, so don’t worry. SCB started excluding RentHero from 2 May onwards.|
Remember that both the RentHero fee and the rent payment itself earn miles. For example, if your rent is S$1,000, the total amount charged to your card (which then earns miles) will be S$1,017.50.
Here’s how this price compares to other ways of buying miles in Singapore. With the fee cut, RentHero offers one of the cheapest ways of buying miles- provided you have a rental payment to make.
|Method||Income Required||CPM||Annual Miles Limit|
|DBS Insignia + RentHero||$500K||1.07||Rental amount|
|SCB Visa Infinite Tax Payment (≥$2K p.m)||$150K||1.14||Tax bill|
|BOC Elite Miles + RentHero||$30K||1.15||Rental amount|
|HSBC Visa Infinite Tax Payment (≥$50K in prev. yr)||$120K||1.2||Tax bill|
|SCB Visa Infinite (≥$2K p.m) + RentHero||UOB PRVI Miles: $30K|
SCB Visa Infinite/ UOB Reserve: $150K
|HSBC Premier MC Tax Payment||AUM: $200K||1.25||Tax bill|
|Citi Ultima + PayAll||$500K||1.25||Bill amount|
|HSBC Visa Infinite Welcome Gift- Premier customer||$120K + AUM $200K||1.39||35K|
|SCB Visa Infinite (≥$2K p.m) + EasyBill||$150K||1.43||Bill amount|
|DBS Altitude/SCB X Card + RentHero||$30K||1.43||Rental amount|
|BOC Elite Miles + CardUp (GET225)||$30K||1.47||Bill amount|
|HSBC Visa Infinite Tax Payment (<$50K in prev year)||$120K||1.5||Tax bill|
|Citi Prestige + PayAll||$120K||1.54||Bill amount|
|UOB PRVI Miles + CardUp (GET225)||$30K||1.57||Bill amount|
|SCB Visa Infinite Tax Payment (<$2K p.m)||$150K||1.6||Tax bill|
|Citi PremierMiles + PayAll||$30K||1.67||Bill amount|
|SCB Visa Infinite Welcome Gift||$150K||1.68||35K|
|HSBC Visa Plat/Revolution Tax Payment||$30K||1.75||Tax bill|
|Cardup with DBS Altitude/Citibank PremierMiles||$30K||1.83||Bill amount|
|HSBC Visa Infinite Welcome Gift- Regular Customer||$120K||1.86||35K|
|OCBC VOYAGE Tax Payment||$120K||1.9||Tax bill|
|UOB Reserve VI Payment Facility||Invitation||1.9||Unlimited|
|Citibank PremierMiles, DBS Altitude, KrisFlyer UOB Card, OCBC 90N Annual Fee||$30K||1.93||10K|
|OCBC VOYAGE Payment Facility||$120K||1.9 or 1.95||Unlimited|
|UOB PRVI Pay Facility||$30K||2.0||Unlimited|
|UOB VI Metal Payment Facility||$150K||2.0||Unlimited|
|SCB Visa Infinite (<$2K p.m) + EasyBill||$150K||2.0||Bill amount|
|OCBC VOYAGE Annual Fee- Option 2||$120K||2.14||150K|
|Citi Prestige Annual Fee||$120K||2.14||25K|
|DBS Altitude Tax Payment||$30K||2.5||Tax bill|
|OCBC VOYAGE Annual Fee- Option 1||$120K||3.25||15K|
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 1.75% admin fee by signing up through The Milelion’s link. Once done, you should be directed to this sign up page.
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 1.75% 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.
That’s it! You’ll see a summary of your scheduled rental payments. Be sure to double check that the 1.75% 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 2 p.m on the charge date.
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]