Friends, Renters & Landlords, lend me your ears: Here’s a way for tenants to pay rent on time, thereby avoiding huge late-rent fees. It’s great for folks with unpredictable income, who like sleeping indoors.
“I don’t sell street meat! Why would I need Square?” That’s what I said about Square’s mobile credit card reader that plugs into one’s phone. Then I realized it can work like a charm for renters and rentees. Here’s how:
My tenant was going to be late, so I stopped by. Instead of breaking his thumbs, he paid me using his new Discover it card. The transaction is NOT a cash advance. He was paying for a Good/Service. I swiped his card, he signed with his finger, and a receipt was emailed to him.
Discover it has no annual fee, pays at least 1% cash back, and gives new card holders 14 months of 0% interest. That’s over a year of flexibility!
American Express Blue Cash & Citi Dividend Platinum Visa are also no annual fee cards that pay at least 1% cash back. They have 12 months at 0% interest and $100 bonuses if you spend $1,000 and $500 respectively in the first three months.
It’s good for the tenant because Square’s 2.75% swipe fee is probably less than the late-rent fee. Using a 1% cash back card (above) reduces the hit to 1.75% after all is done. It’s good for the landlord because the money is automatically deposited in his bank account the next business day. The 2.75% per swipe fee is Square’s ONLY charge for either party — ever.
That gift card from your aunt has been sitting on your dresser for a few weeks now. It’s to that restaurant you loved when you visited her in South Carolina as a kid. Unfortunately, she didn’t know that:
a) There isn’t a Bojangles’ Fried Chicken & Biscuits within 500 miles, and… b) You’re a vegan.
Hey, it’s the thought that counts, right? Well, you’re not stuck. There are sites like Plastic Jungle that will give you cash for your gift cards. They also sell gift cards at a discount. It’s a profit deal! As you know, that takes off all the pressure.
BONUS: Until 3:00am EST on Saturday the 19th. If you sell Plastic Jungle at least $200 worth of Gift Cards in a single transaction they will give you a $20 credit off of your next Gift Card Purchase.
Nothing to sell? Buy cheap! Plastic Jungle currently has 77 brand name gift cards for sale at significant discounts. If you are going to buy something at one of these stores, pop on, get the card and use it. Many cards come via email for speeditude. For example, Barnes & Noble (18% off), Macy’s (10% off), Best Buy (6% off)…
I usually reserve the use of my phone to win concert tickets, give my political opinions to robots, and to ask strangers if their refrigerator is running. Alas, I have found another use:
Stop the Presses! I was asked to take this post down. I will try to get some version of it back up. Meanwhile, treat yourself to these awesome bonuses – while they are still around. 50,000 points = $500 cash or $625 in travel.
Remember, if you aren’t a business entity like an S-Corp or LLC, you can still apply for the Ink cards as a Sole-Proprietor, use your name as the business name, your social as the Tax ID number. Very easy, legal and FUN! Click here for more info on this, Snoop Dogg and Festivus.
- Chase Ink Bold® Business Card – 50,000 bonus points after you spend $5,000 in the first 3 months. $95 annual fee waived first year. No Foreign Transaction Fees.
- Chase Ink Classic® Business Card – 20,000 bonus points after you spend $3,000 in 3 months from account opening. No annual fee.
- Chase Ink Cash® Business Card – 20,000 bonus points after you spend $3,000 in 3 months from account opening. No annual fee.
- Chase Ink Plus® Business Card – 50,000 bonus points after you spend $5,000 in 3 months from account opening. $95 annual fee waived first year. No Foreign Transaction Fees.
Chip’s Money Tips Subscriber-Extraordinaire Jacko has a question:
“Can you recommend a decent rewards card that will allow me to float some payables for a few months?”
Absolutely! Three of the four Chase Ink cards have a 0% introductory rate for the first six billing cycles that your account is open. Float, float on… until Summer!
Ink Classic, Ink Cash and Ink Plus all have a 0% introductory rate for six billing cycles. For that time period, there is 0% interest.
The Ink cards were created for business use, but that pretty much includes anyone who makes a buck doing something. As I have said before, if you are a handyman, nanny, dog walker, actor, or sell stuff online – congratulations the IRS says you are called a sole proprietor!
When you apply for one of these cards, put your name as Name of Business, your social security number as Tax ID Number, and sole proprietor as Type of Business. It’s all legal and legit.
Before I give you the breakdown of what each card offers, here’s a way to maximize these bonus babies!
UPDATE for 2013 — ING DIRECT is now Capital One 360.
Shhh!!! ING DIRECT doesn’t know what “sale” means. They think it means to give away cash. Now through Sunday night ONLY, they will give you $125 if you open an Electric Orange account, $10 for a Kids Savings Account and more.
I have an Electric Orange account. No credit check. No Minimums. No fees. No tricks. No brainer. So, even if you have HORRIBLE credit you can open an Electric Orange and get $125. Where else can you make $125 in ten minutes this weekend?
Here’s the scoop on those “sales” and the others:
If time is money, you gotta applaud this guy’s money tip.
Wednesday is considered one of the busiest travel days of the year. If you are getting in your car, maybe you should take a page out of The Book of Lopez. Forget about “outside the box”, this guy thinks “outside the lanes”. Steve Lopez wrote in the LA Times:
Once, I hired a day laborer to travel with me so I could use the carpool lanes… I still think there ought to be day laborer stations along the highway, because everybody wins, but for some reason the idea hasn’t caught on.
I assume Steve hasn’t heard of Ted Bundy or seen Texas Chainsaw Massacre.
As we head into Thanksgiving, there is much reason to be grateful. If you are reading this site, you probably aren’t a day laborer. You were probably born in America – which is like winning the lottery. We need look no further than a day laborer hiring area to be reminded that this is the Land of Opportunity and that we are blessed to be here.
And if things get really bad, you can make a few bucks riding shotgun down the 405. Happy Thanksgiving!
Some people use my tips on ways to get free cash to help pay the rent. Others use them to bankroll something crazy. I splurged on something ridiculous – an entry into the World Series of Poker in Las Vegas. Even better, I cashed!
Out of 3,102 players, I came in 171st place in my $1,000 buy-in, No Limit Texas Hold’em tourney. See my “trophy” below.
Playing in the WSOP was not complete folly. I had been playing in competitive home games for years against players who had cashed in the WSOP – including Main Event Champion Jamie Gold whom I interviewed on my PodCASHt.
I did not play in the Main Event – which crowns a new champ tonight on ESPN. The $10,000 buy-in price tag was a bit steep. I did play with ESPN’s Main Event play-by-play announcer Lon McEachern. He sat down at my table and I was able to lose a hand to him.
It was tough for me to pull the trigger to enter the WSOP. I don’t like to just throw
Subscribe to audio PodCASHt in Tunes
2006 World Series of Poker Champion Jamie Gold sets the record straight about his Main Event “investor”, needing bodyguards, rumors that he’s broke, collusion in poker – and much more. Play against Jamie this Sunday, October 7th at FreeGoldPoker.com
If you want some free money for your poker jones, how about $250? If you get a Chase Ink Bold Charge card, and make only ONE purchase, you will get $250!! (offer expired). This is a business card, but anyone can be a business. That’s called being a “sole proprietor”. If that sounds like you, here is how you should fill out the application.
It’s back baby! For the month of August, get an easy $25 – $75 in free dough – even if you have bad credit!
This is NOT a credit card, so even if you have the worst credit in the world, you can do this. Order your American Express Prepaid card, load it up with $200 from your bank account, and you’ll get a $25 gift card. You can get up to three cards.