08-21-2019, 07:41 PM | #1 |
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I wonder if I could use credit card miles to live rent free on Airbnb
So I have this idea, if I earn enough miles on my credit card I can use this to pay rent on a month to month Airbnb to either get a discount on rent or even have the rent paid for entirely with points. Anyone know if this is feasible or tried it?
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08-21-2019, 08:21 PM | #3 |
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I know a few people who pay their mortgage with a credit card just to get the points. Figuring that they may get 5% back as points on a good card, they are most certainly not making a killing. Maybe a yearly cruise or vacation/holiday airfare, but not enough to pay for a place to live.....
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08-21-2019, 08:35 PM | #6 | |
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08-21-2019, 08:37 PM | #7 |
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I could do it to reduce the amount but maybe not totally free. Just trying to see if renting out my place and then renting another place to live in on Airbnb might make financial sense depending on how much cheaper it will be with CC miles.
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08-21-2019, 09:00 PM | #8 |
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I have no idea how they pulled it off, and my credit union surely wouldn't let me do it even if I wanted to get a credit card and play the points game. Would the cash advance fees be a wash on earned points even if they paid the full balance right away?????
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08-21-2019, 10:14 PM | #9 |
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Paying Airbnb rent will be more than renting a normal place.
Using a credit card to pay things like rent usually have built in costs and should be cheaper if you paid by wire or direct deposit. So you aren't really saving anything. |
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08-21-2019, 10:31 PM | #10 |
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It’s possible if you spend a shit ton on that credit card. Maybe if you have a business that requires huge regular cash flows. If we say rewards redemptions cost something like 100 points per dollar, you’ll need to be spending 200k a month to get enough points to pay off $2k in Airbnb monthly costs a month. Just to use round numbers.
You’ll get more points, of course, if you can dip heavily into the accelerators some cards offer (like 2x/4x on dining, groceries, travel, etc) |
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08-22-2019, 01:21 AM | #12 | |
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08-22-2019, 06:38 AM | #13 |
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Ok, so you more or less have all the info to answer this question. Go to your statement and see how many points you earn on average a month.
On Amex you can get most gift cards at about 100 MR pts per dollar - haven't checked Airbnb specifically but hopefully it's the same conversion. You mention having a bank, so you probably don't have Amex, but you can calculate redemption values pretty easily on your rewards portal. |
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08-22-2019, 09:04 AM | #14 | |
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08-23-2019, 09:56 AM | #17 |
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