Security deposit on credit card?

Question

Bill S. · Answer

Now in defense of good tenants. I know some that put everything on CC for the cash back and airline miles. That said, No go for either rent or SD on a CC.

Ramon Jenkins · Answer

cashier check

money order

Kimberly T. · Answer

No!  As others stated, you want it in cash, cashier's check, or money order only.  Big red flag - they haven't saved up the money needed to move when they were planning to move.  What are they going to do when they have an unexpected expense while they're a tenant?  Short answer: screw you.

Is the rental in Wisconsin?  I thought all the tenants from Wisconsin were great.  Two of the best tenants we've ever had were from Wisconsin, we were starting to wonder if they were all that good.  :)

Michael Seeker · Answer

I completely agree with the others.  As @Jon Holdman mentioned, if they can't provide cash/money order for deposit and 1st months rent, then I don't even consider signing a lease.

If they want to pay the deposit on CC, then you might as well call up your lawyer and have them prepare the paperwork for eviction because it'll be eminent if you take on that tenant.

Phillip Syrios · Answer

This is a big red flag. If they cannot save enough money for a deposit then they are not finically stable enough to afford paying rent through an entire lease.

Jon Holdman · Answer

Security deposit plus one full months rent in cash or money order ONLY!!!

Steve Babiak · Answer

NO - chargeback risk.  There is an existing thread on accepting rent via credit card that you should search for and read.