How is housing.com for paying rent via credit card?

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Deal Subedar
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How is housing.com for paying rent via credit card? Does it credit on time? Any issues with it?
#creditcardusers

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Not being a party breaker but just putting it out as fyi, stop thinking of using this as next big money rotation deal(one guy here rotated lakhs per month this way) because in coming months income tax dept notice is going to come to many such people now that their big data analysis AI system is fully functional(& all it needs is your pan hence the linkage of pan & aadhaar to eliminate duplicate pan).

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guest_999 wrote:

Not being a party breaker but just putting it out as fyi, stop thinking of using this as next big money rotation deal(one guy here rotated lakhs per month this way) because in coming months income tax dept notice is going to come to many such people now that their big data analysis AI system is fully functional(& all it needs is your pan hence the linkage of pan & aadhaar to eliminate duplicate pan).

No money rotation. For actual rent payment only.

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rohan8397 wrote:

No money rotation. For actual rent payment only.

Any particular reason then for preferring housing.com site for rent payment over well known nobroker & redgirraffe?

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guest_999 wrote:

Not being a party breaker but just putting it out as fyi, stop thinking of using this as next big money rotation deal(one guy here rotated lakhs per month this way) because in coming months income tax dept notice is going to come to many such people now that their big data analysis AI system is fully functional(& all it needs is your pan hence the linkage of pan & aadhaar to eliminate duplicate pan).

Barring cc rotation, this AI thing will then definitely create troubles for majority of employees claiming their HRAs.

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guest_999 wrote:

Any particular reason then for preferring housing.com site for rent payment over well known nobroker & redgirraffe?

@rohan8397 Bro, prefer RedGirraffe if your rent amount is on the higher end (20K+) since it has the lowest processing fee; prefer NoBroker if the rent amount is on the lower end ~10K, since it offers decent cashbacks in this range…

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any one who has sold property via housing.com

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guest_999 wrote:

Any particular reason then for preferring housing.com site for rent payment over well known nobroker & redgirraffe?

I want to use my Axis Flipkart card. Redgirraffe not accepting Axis. Nobroker to hai hi. I was looking for options.
cc: @BlueFlash

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i think housing charges 1%.

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guest_999 wrote:

Not being a party breaker but just putting it out as fyi, stop thinking of using this as next big money rotation deal(one guy here rotated lakhs per month this way) because in coming months income tax dept notice is going to come to many such people now that their big data analysis AI system is fully functional(& all it needs is your pan hence the linkage of pan & aadhaar to eliminate duplicate pan).

so is there any rule about money rotation?

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A paid rent to B
B transferred to A
A paid credit card bill on time-

now if no one is claiming HRA, what is the issue here?

This is against credit card T&C, bank can block card

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_pb wrote:

so is there any rule about money rotation?

A paid rent to B
B transferred to A
A paid credit card bill on time

now if no one is claiming HRA, what is the issue here?

just tell the same to income tax officer in case they contact u.

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akki.akki wrote:

just tell the same to income tax officer in case they contact u.

ok sunglasses

If you have proper books and paying proper tax, this should not create any issue.

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_pb wrote:

ok sunglasses

If you have proper books and paying proper tax, this should not create any issue.

It wouldn’t but keep in mind that “proper books” & “proper tax” definition varies from income tax officer to income tax officer. sunglasses

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_pb wrote:

so is there any rule about money rotation?

A paid rent to B
B transferred to A
A paid credit card bill on time

now if no one is claiming HRA, what is the issue here?

https://www.idfcfirstbank.com/content/dam/IDFCF...

IDFC FIRST Bank may also terminate the use of the Card at any time without prior notice, if it considers it necessary for business or security reasons, which may include but not limited to delay in payments, usage beyond the credit limit, returned cheque, improper use of Credit Card (for Foreign Exchange trading, business use, etc.,) misleading or incorrect information/documents given along with Card application or otherwise, failure to furnish information or documents as required by relevant laws/regulations (including identification documents) as may be required under the Bank’s/ RBI’s Know Your Customer (KYC)/ Anti Money Laundering (AML)/ Combating of Financing Terrorism (CFT) guidelines, if the Cardmember is involved in any civil litigation or criminal offence / proceedings by any authority, court of law or professional body or association.

Similar T&C exists for all credit cards.
@demerius2020

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guest_999 wrote:

https://www.idfcfirstbank.com/content/dam/IDFCF...

IDFC FIRST Bank may also terminate the use of the Card at any time without prior notice, if it considers it necessary for business or security reasons, which may include but not limited to delay in payments, usage beyond the credit limit, returned cheque, improper use of Credit Card (for Foreign Exchange trading, business use, etc.,) misleading or incorrect information/documents given along with Card application or otherwise, failure to furnish information or documents as required by relevant laws/regulations (including identification documents) as may be required under the Bank’s/ RBI’s Know Your Customer (KYC)/ Anti Money Laundering (AML)/ Combating of Financing Terrorism (CFT) guidelines, if the Cardmember is involved in any civil litigation or criminal offence / proceedings by any authority, court of law or professional body or association.

Similar T&C exists for all credit cards.
@demerius2020

Sirji why going off topic? My questions still unanswered…. sob

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rohan8397 wrote:

Sirji why going off topic? My questions still unanswered…. sob

@guest_999 Dara Dara ke maro. … joy joy
He has already said that he want to pay actual rent.

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rohan8397 wrote:

Sirji why going off topic? My questions still unanswered…. sob

Somebody already replied above bro.

i think housing charges 1%.

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nikhilp1 wrote:

@guest_999 Dara Dara ke maro. … joy joy
He has already said that he want to pay actual rent.

Somebody already replied(see above), I am only discussing with others in the meantime until someone else also post some other info asked by op.

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guest_999 wrote:

https://www.idfcfirstbank.com/content/dam/IDFCF...

IDFC FIRST Bank may also terminate the use of the Card at any time without prior notice, if it considers it necessary for business or security reasons, which may include but not limited to delay in payments, usage beyond the credit limit, returned cheque, improper use of Credit Card (for Foreign Exchange trading, business use, etc.,) misleading or incorrect information/documents given along with Card application or otherwise, failure to furnish information or documents as required by relevant laws/regulations (including identification documents) as may be required under the Bank’s/ RBI’s Know Your Customer (KYC)/ Anti Money Laundering (AML)/ Combating of Financing Terrorism (CFT) guidelines, if the Cardmember is involved in any civil litigation or criminal offence / proceedings by any authority, court of law or professional body or association.

Similar T&C exists for all credit cards.
@demerius2020

This type of vague t&c is in every contract , “improper use of credit card is vague term” untill and Unless there is clear definition that rotating money constitute to " improper use" it cant be assumed that rotation of money breaks a rule

Also what rbi got to say in it do they also struck with term improper use or defined it too

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https://housing.com/edge/pa...nt

Payment transferred in 1 to 2 days

We levy a small convenience charge when you pay through credit card. The amount is mentioned in the payment page and is included in the final payment.

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akki.akki wrote:

just tell the same to income tax officer in case they contact u.

Yes i will , if the notice come and will also update here for info all wink

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demerius2020 wrote:

This type of vague t&c is in every contract , “improper use of credit card is vague term” untill and Unless there is clear definition that rotating money constitute to " improper use" it cant be assumed that rotation of money breaks a rule

Also what rbi got to say in it do they also struck with term improper use or defined it too

I am pretty sure that any attempt to trick the system to gain benefit constitutes as improper use. Rotate all the money you want but don’t get benefit from the bank for it. It is clear that rbi agrees with it else you wouldn’t be seeing examples of banks cancelling credit cards with 3-4 lakh+ limit on account of misuse. Also what you call “vague” is what a legal expert calls a “good” T&C.

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demerius2020 wrote:

This type of vague t&c is in every contract , “improper use of credit card is vague term” untill and Unless there is clear definition that rotating money constitute to " improper use" it cant be assumed that rotation of money breaks a rule

Also what rbi got to say in it do they also struck with term improper use or defined it too

Yes it breaks a CC T&C since you can not use it as working capital..

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Ok guys. I used housing.com for paying rent. Amount was credited in less than 2 hours. And 1% charges. So, better than Cred. Nobroker takes a little less time.

Nobroker>Housing.com >Cred

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rohan8397 wrote:

Ok guys. I used housing.com for paying rent. Amount was credited in less than 2 hours. And 1% charges. So, better than Cred. Nobroker takes a little less time.

Nobroker>Housing.com >Cred

i think it first validates pan of sender and receiver, right ?

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akki.akki wrote:

i think it first validates pan of sender and receiver, right ?

No PAN number required.

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govt is getting tax out of all these transactions and you are paying it back to the card company in time IT will not have any issue if you can explain the transactions ye stupids ki tarha money laundering or rotation ka khauf mat do logo ko few thousands wont hurt anyone 😂

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_pb wrote:

so is there any rule about money rotation?

A paid rent to B
B transferred to A
A paid credit card bill on time

now if no one is claiming HRA, what is the issue here?

So B pays tax on rental income?

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Bahu_Bully wrote:

govt is getting tax out of all these transactions and you are paying it back to the card company in time IT will not have any issue if you can explain the transactions ye stupids ki tarha money laundering or rotation ka khauf mat do logo ko few thousands wont hurt anyone 😂

Nobody does money rotation for few thousands(& nobody said it here either), beginners do it for around 1 lakh while pros do it for 5-6 lakhs while legends rotate same amount every month. Aur ye stupid jaise shabd jara soch samajhkar use kiya karo naa ki aankh band karkay poore thread mein 4 line read karkay. rolleyes

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andromeda wrote:

So B pays tax on rental income?

No, No one is claiming HRA here

Missing