Reward stacking: how NZ renters can turn rent into rewards
Rent is most renters' biggest bill, and it usually earns nothing. Here's how reward stacking works with Renti Rewards, as Renti's Drake explained on NZ Herald NOW Business.
For most renters, rent is the biggest bill of the week. And for most, it earns nothing. Reward stacking changes that. Renti's Drake talked through how it works on NZ Herald NOW Business. Watch the segment above, or read the key points below.
What is reward stacking?
Reward stacking means earning more than one reward on the same payment. When you pay rent by card with Renti, you can earn:
- Whatever your own card already gives you (points, Airpoints or cashback, depending on your card)
- Renti Points on top, every time your rent is paid
- Partner perks and offers through Renti Rewards
In the segment, Drake gave his own example: he pays his rent with a card that gives him cashback, and earns Renti Points on top.
How it works
- Download the Renti app from the App Store or Google Play.
- Link your card and set up your rent payment.
- Renti pays your landlord or property manager. You earn Renti Points with every payment.
It works with any landlord or property manager. You can use any Visa or Mastercard, debit or credit. Amex isn't accepted yet.
What does it cost?
You pay your rent plus a 1.99% card fee. There are no other fees. As Drake put it on the show, Renti's job is to build a value stack that outweighs that fee.
Paying by bank transfer is also an option, but it doesn't earn rewards. Rewards come from paying by card.
What you could earn
At $650 a week rent, a renter could earn rewards worth $1,564 a year. Your number depends on your rent, your card and the perks you use. Try the calculator below to see yours.
What you can use your points and perks on
- Gift cards from a range of NZ retailers
- Partner cashback and perks, such as Samsung and Uber One offers (see the Partners page for current offers and T&Cs)
- Rent cover: up to 4 weeks' rent, max $2,500, if you're made redundant (T&Cs apply)
Why now?
Renting is increasingly a choice. Many younger New Zealanders are putting money towards travel, lifestyle and investing rather than a house deposit. Reward stacking means the rent you already pay works a bit harder for you.
Offers and rewards change over time. Check the Renti Rewards app and Partners page for current offers and T&Cs.
Frequently asked questions
Can you pay rent by credit card in NZ?
Yes. With Renti you can pay rent with any Visa or Mastercard, credit or debit, and Renti pays your landlord or property manager. Amex isn't accepted yet.
How much does it cost to pay rent by card with Renti?
You pay your rent plus a 1.99% card fee. There are no other fees.
What if I can't pay off a credit card in full?
Pay by debit instead. You earn Renti Points and member perks on any Visa or Mastercard debit card, with no interest. If you use a credit card, clear it in full each month so interest doesn't eat into your rewards.
Can I earn rewards on my bond?
Yes. You can pay your bond by card through Renti and earn rewards on it too. Check the Renti app for details.
Does my landlord need to sign up?
No. It works with any landlord or property manager/rental, and nothing changes for them.
Do I earn rewards if I pay by bank transfer?
No. Bank transfer is an option in the Renti app, but rewards come from paying by card.
See what your rent could earn
Pop in your weekly rent and see your rewards in seconds. Rent amount + 1.99% processing fee, no other fees.