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Chexy allows users to pay their bills, rent, and taxes, as well as make Interac e-Transfers with their credit card, unlocking valuable rewards.
Chexy is a Toronto-based Canadian startup founded in 2023.
Chexy quickly stood out by allowing users to pay their rent with a credit card. Since then, Chexy has partnered with Aeroplan and expanded its range of payment services.
Chexy makes bill payments exciting, turning something mundane into something rewarding! How? By changing the way you manage your biggest recurring expenses, Chexy turns them into a stream of points and cash back.
The Chexy platform allows you to use your credit card to make the following payments:
Then, you can pay them using a Visa or American Express credit card, Interac e-Transfer, pre-authorized debit, or bill payment.
There’s even a Chexy version for small businesses, for paying suppliers.
Chexy uses the same network as traditional financial institutions. So, if you can pay your bill through your bank, you should be able to do it on Chexy too. If you can’t find your payee, simply contact Chexy’s customer service and they’ll add it for you.
Chexy has the lowest transaction fees for this type of service in Canada:
So, if you pay a bill for $100, the total charged to your Canadian credit card will be $101.75.
Using Chexy is a great way to earn points and cash back, with a credit card that offsets the 1.75% fee.
The best credit card for paying recurring bills on Chexy is the Scotiabank Momentum Visa Infinite Card. It gives you 4% on recurring payments and subscriptions. So you’ll make a net profit of 2.25% on each payment (4% – 1.75%).
We can think of these everyday credit cards that offer:
With these, you get a net gain of 0.25% (2% – 1.75%).
A welcome bonus or sign-up offer is a reward provided by credit card issuers to encourage new customers to apply for their cards
These offers usually require you to reach a minimum spending threshold in the first few months after opening the card. For example, you’ll see in the welcome offer details “earn 60,000 points after spending $3,000 in the first three months.”
So, Chexy is a smart ally for earning these valuable welcome bonuses, without making extra purchases to meet the minimum spend requirement.
So, yes, it’s worth paying a $50 fee with Chexy to get $600 in points.
Here are some examples of credit cards with excellent welcome offers at the moment:
Chexy is a great way to optimize your payments and collect a ton of points in the process!
However, Chexy is only beneficial under two key conditions:
To find out more about Chexy’s services and strategies for maximizing your points and cash back, see our guides:
The value of Chexy largely depends on your rewards goals. For credit card holders with high reward rates or those who need to meet a minimum spend to earn a points bonus, Chexy can be an excellent investment.
For example, if you use Chexy to pay a monthly rent of $2,000 with a credit card offering 4% cash back, you would earn $960 in rewards annually, which more than covers Chexy’s fees ($420).
Yes, Chexy is considered a secure, standards-compliant platform, in compliance with Canadian financial laws. Chexy’s growing reputation and partnerships with recognized institutions are testament to the strength of its security measures.
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