Chexy: Pay Rent With A Credit Card (& Earn Rewards)

To the point Chexy offers an online service for paying rent with a credit card and earning rewards points. Here's how to do it.

What is Chexy? Earn reward points Automated rent payments

How do I use Chexy as a renter? How to use Chexy as a landlord?

Other Chexy services Cashback Credit Builder

Our review of Chexy

What is Chexy?

Chexy is a Canadian company that offers several options for paying your rent in order to earn rewards or increase your credit rating.

The services of Chexy services are aimed primarily at renters who want to :

Earn rewards points by paying their rent with a credit card
Maximize their rewards by earning cash back from multiple retailers
Build their credit score with Credit Builder
Automate the rent payment process

Chexy - Earn reward points

When it comes to rewards, Chexy has created a calculator that allows you to see the value you can get by combining the number of points accumulated and Chexy‘s fees.

It’s easy to see that, although debit card fees are lower, this payment method doesn’t earn rewards, unlike credit cards.

You can also take advantage of this calculator to explore various credit card options recommended by Chexy for use with their services.

Chexy - Automated rent payments

Paying rent by card with Chexy is a three-step process:

Create your account
Connect your Canadian credit card (or debit card)
Chexy charges the rent to the credit card each month, then transfers the rent money to the landlord via Interac transfer.

Please note: This process can only work if your landlord accepts your rent payment as an Interac transfer. If this isn’t the case at present, you’ll need to communicate with them to confirm that it’s possible.

How do I use Chexy as a renter?

Chexy’s website will soon be available in French as well.

To use Chexy to pay your rent, follow the steps below.

Go to the Chexy website, then enter your details to create an account, or log in from your Google account.

Next, indicate your main purpose for using Chexy, such as earning rewards on your rent, for example.

To complete this process, make sure you have :

Information about your lease
Your payment method (credit or debit card)
Your digital lease agreement
Your landlord’s information, including the e-mail address used to send the Interac transfer

Once you have added your information, you will need to select your payment method:

by credit card to earn rewards,
by automatic transfer (debit card),
or by adding the Credit Builder option ($9.99 per month).

As a security measure, Chexy must verify your identity. All you need to do is connect to an online bank account.

Please note: If you are not used to sending your rent by Interac transfer, be sure to confirm this process with your landlord. Not all owners accept this form of payment.

Then, once the lease agreement has been added and everything completed, the automation of Chexy is underway, and Chexy will charge your rent to your card four days before the agreed payment date, with a fee of 1.75% of your rent each month (if paid by credit card).

How to use Chexy as a landlord?

While it once seemed impossible for a landlord to bill rent by credit card, it’s now possible with Chexy.

On its website, Chexy has a section dedicated to landlords. From autumn 2023, they will be able to invite their tenants to pay with Chexy so that they can take advantage of the benefits and rewards on offer.

In addition to automating payments, Chexy offers other benefits that will enable landlords to track activity.

Other Chexy services

Chexy - Cashback

By signing up for Chexy‘s rent payment service, you can earn cashback on your online shopping. The principle is the same as using the eBoutique of Aeroplan, Rakuten, Boomerang or any other online shopping platform.

The cashback you earn will then be deducted from what Chexy charges to your credit card, so it can help cover service fees.

Chexy - Credit Builder

Chexy also offers its Credit Builder service to help you build your credit score. For each rent payment, Chexy sends a report to Equifax, one of Canada’s leading credit bureaus.

This service, available for a fee of $9.99 per month, can help anyone trying to raise their credit score, whether they’re newcomers, students, or anyone with a specific goal in mind (buying a home, for example). So it’s a good way to keep your credit data up to date and active by showing positive use.

With a better credit score, you can get a better rate when you apply for a mortgage, and save a lot of money over the years. Or be approved for better American Express, Mastercard or Visa credit cards.

Our review of Chexy

If you can use Chexy to pay your rent, it’s a great way to earn points every month and unlock welcome bonuses that stretch over several months.

These include the American Express Cobalt^MD Card, the Platinum Card^MD from American Express, and many high-end cards that require you to reach a certain high annual spending threshold to unlock bonus points.

Also, these cards generally offer points whose value is greater than the fees charged by Chexy. For example, we estimate the value of an Aeroplan point at 2 cents.

Here are some of them:

In addition, some credit cards offer cash back, so you’ll also come out ahead when you pay your rent through Chexy. One example is the SimplyCash^® Preferred Card from American Express, which offers 2% cash back (plus a hefty welcome bonus):

If you’re a renter looking to unlock a credit card welcome bonus with high spending requirements, using Chexy ‘s services can help you achieve your goals.