Pay your rent online, earn miles!
Question about WilliamPaid
Jul 2, 2012, 1:50 pm
#287
Moderator: CommunityBuzz!, OMNI, OMNI/PR, and OMNI/Games & FlyerTalk Evangelist
Join Date: Nov 2000
Location: ORD (MDW stinks)
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Posts: 23,529
FYI, the credit bureaus are looking into ways to obtain rent payment history/data from landlords to assist in building one's credit. No bureau to date is actually using it IIRC.
Jul 2, 2012, 2:35 pm
#288
Join Date: Jul 2005
Location: Chicago, IL
Programs: AA EP; WN CP;UA SILVER; MARRIOTT TITANIUM; HH DIAMOND; IHG PLAT; RADISSON PLAT; HYATT GLOBAL
Posts: 1,939
FYI, if anyone is remotly interested, William Paid is a "small business" based in IL, so you will get a $10 AMEX credit for your July rent payment if made by 7/4 and if you sign up for Small Business credit. It was unexpected, I was happy to get my $10 credit 
Jul 2, 2012, 3:22 pm
#289
Flyertalk Posting Legend Moderator: Credit Card Programs, American Express, Capital One, Chase, Citi, Diners Club, Signatures.
Join Date: Jun 2003
Location: Miami, Mpls & London
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Posts: 48,982
http://www.williampaid.com/pricing
How much does it cost to pay my rent?
To pay your rent with any bank account is FREE. However, should you choose to pay by credit card, or use multiple accounts, a 2.95% fee will apply.
To pay your rent with any bank account is FREE. However, should you choose to pay by credit card, or use multiple accounts, a 2.95% fee will apply.
Jul 2, 2012, 3:31 pm
#290
Join Date: Oct 2010
Posts: 72
nice one, thank you.
Jul 3, 2012, 11:55 am
#292
Join Date: Jul 2012
Posts: 3
Thanks for the reply!
I was just wondering if any users have experienced any hidden fees or anything. Otherwise, I'm not sure how they make money on this product. If the consumer is paying $5/mo. to pay rent (1 transaction per month) and say avg rent is $500-1000 and WilliamPaid has to pay the cc fee of around 3% = $15-30 per rent payment. Fairly negative profit margin...unless FICO is using this as a loss leader to try to build this alternative FICO score that they're talking about, which they can resell or they've established special rates w/ the card companies/can somehow pool transactions in a profitable way.
Seems fairly straightforward w/ respect to pricing/cancellation, I just have seen a number of predatory businesses (e.g. Stamps.com, eFax) where cancellation is impossible/there are hidden fees or something like that. Any thoughts?
I was just wondering if any users have experienced any hidden fees or anything. Otherwise, I'm not sure how they make money on this product. If the consumer is paying $5/mo. to pay rent (1 transaction per month) and say avg rent is $500-1000 and WilliamPaid has to pay the cc fee of around 3% = $15-30 per rent payment. Fairly negative profit margin...unless FICO is using this as a loss leader to try to build this alternative FICO score that they're talking about, which they can resell or they've established special rates w/ the card companies/can somehow pool transactions in a profitable way.
Seems fairly straightforward w/ respect to pricing/cancellation, I just have seen a number of predatory businesses (e.g. Stamps.com, eFax) where cancellation is impossible/there are hidden fees or something like that. Any thoughts?
Last edited by mia; Jul 3, 2012 at 12:10 pm
Jul 3, 2012, 12:15 pm
#293
Flyertalk Posting Legend Moderator: Credit Card Programs, American Express, Capital One, Chase, Citi, Diners Club, Signatures.
Join Date: Jun 2003
Location: Miami, Mpls & London
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Posts: 48,982
Jul 3, 2012, 12:26 pm
#294
Join Date: Jul 2012
Posts: 3
Ah thanks, that's the part I was pretty sure I was missing...for some reason it wasn't immediately apparent to me on the page. Makes a lot more sense now...Thanks for the clarification.
Jul 5, 2012, 4:14 pm
#295
Join Date: Jul 2011
Posts: 1,114
Tell me what I am missing:
BoA Virgin Atlantic gives 1.5 miles for each dollar spent and 15,000 anniversary bonus after spending $25,000
Say you spend exactly $25,000 within a year = 37,500 + 15,000 = 52,500
Virgin Atlantic miles transfer 1:2 to Hilton = 105,000 points
WP 2.95% fee on $25,000 is $737.5, which is effectively buying HH points at 0.7c. If I recall correctly those are usually valued at 1c per point.
If you include card's $90 annual fee, you get 0.78c per point.
Sounds like a good deal?
BoA Virgin Atlantic gives 1.5 miles for each dollar spent and 15,000 anniversary bonus after spending $25,000
Say you spend exactly $25,000 within a year = 37,500 + 15,000 = 52,500
Virgin Atlantic miles transfer 1:2 to Hilton = 105,000 points
WP 2.95% fee on $25,000 is $737.5, which is effectively buying HH points at 0.7c. If I recall correctly those are usually valued at 1c per point.
If you include card's $90 annual fee, you get 0.78c per point.
Sounds like a good deal?
Jul 5, 2012, 4:50 pm
#296
Join Date: Jan 2003
Location: SAN
Programs: DL SM, Marriot PLT, Tall guy in need of legroom
Posts: 1,478
Tell me what I am missing:
BoA Virgin Atlantic gives 1.5 miles for each dollar spent and 15,000 anniversary bonus after spending $25,000
Say you spend exactly $25,000 within a year = 37,500 + 15,000 = 52,500
Virgin Atlantic miles transfer 1:2 to Hilton = 105,000 points
WP 2.95% fee on $25,000 is $737.5, which is effectively buying HH points at 0.7c. If I recall correctly those are usually valued at 1c per point.
If you include card's $90 annual fee, you get 0.78c per point.
Sounds like a good deal?
BoA Virgin Atlantic gives 1.5 miles for each dollar spent and 15,000 anniversary bonus after spending $25,000
Say you spend exactly $25,000 within a year = 37,500 + 15,000 = 52,500
Virgin Atlantic miles transfer 1:2 to Hilton = 105,000 points
WP 2.95% fee on $25,000 is $737.5, which is effectively buying HH points at 0.7c. If I recall correctly those are usually valued at 1c per point.
If you include card's $90 annual fee, you get 0.78c per point.
Sounds like a good deal?
Been doing similar math in my head as well and can't seem to figure out why anyone would do this
Jul 5, 2012, 5:11 pm
#297
Join Date: Jun 2010
Programs: AA Plat,PC Plat, HHonors Gold
Posts: 904
Tell me what I am missing:
BoA Virgin Atlantic gives 1.5 miles for each dollar spent and 15,000 anniversary bonus after spending $25,000
Say you spend exactly $25,000 within a year = 37,500 + 15,000 = 52,500
Virgin Atlantic miles transfer 1:2 to Hilton = 105,000 points
WP 2.95% fee on $25,000 is $737.5, which is effectively buying HH points at 0.7c. If I recall correctly those are usually valued at 1c per point.
If you include card's $90 annual fee, you get 0.78c per point.
Sounds like a good deal?
BoA Virgin Atlantic gives 1.5 miles for each dollar spent and 15,000 anniversary bonus after spending $25,000
Say you spend exactly $25,000 within a year = 37,500 + 15,000 = 52,500
Virgin Atlantic miles transfer 1:2 to Hilton = 105,000 points
WP 2.95% fee on $25,000 is $737.5, which is effectively buying HH points at 0.7c. If I recall correctly those are usually valued at 1c per point.
If you include card's $90 annual fee, you get 0.78c per point.
Sounds like a good deal?
Jul 5, 2012, 8:19 pm
#298
Join Date: Oct 2011
Location: MKE
Programs: WN CP, Hilton Gold
Posts: 205
Jul 5, 2012, 8:45 pm
#299
Suspended
Join Date: Dec 2006
Location: USA
Programs: All major programs
Posts: 1,403
Tell me what I am missing:
BoA Virgin Atlantic gives 1.5 miles for each dollar spent and 15,000 anniversary bonus after spending $25,000
Say you spend exactly $25,000 within a year = 37,500 + 15,000 = 52,500
Virgin Atlantic miles transfer 1:2 to Hilton = 105,000 points
WP 2.95% fee on $25,000 is $737.5, which is effectively buying HH points at 0.7c. If I recall correctly those are usually valued at 1c per point.
If you include card's $90 annual fee, you get 0.78c per point.
Sounds like a good deal?
BoA Virgin Atlantic gives 1.5 miles for each dollar spent and 15,000 anniversary bonus after spending $25,000
Say you spend exactly $25,000 within a year = 37,500 + 15,000 = 52,500
Virgin Atlantic miles transfer 1:2 to Hilton = 105,000 points
WP 2.95% fee on $25,000 is $737.5, which is effectively buying HH points at 0.7c. If I recall correctly those are usually valued at 1c per point.
If you include card's $90 annual fee, you get 0.78c per point.
Sounds like a good deal?
. Good luck!
Jul 6, 2012, 10:37 am
#300
Join Date: Jul 2005
Location: Chicago, IL
Programs: AA EP; WN CP;UA SILVER; MARRIOTT TITANIUM; HH DIAMOND; IHG PLAT; RADISSON PLAT; HYATT GLOBAL
Posts: 1,939
This is very creative, if you value points that high, go for it.
As a reference, you can buy directly from Hilton at $.01 per point.
I value at half of that.
You can also apply for a couple credit cards that are fee free and and get the same 100K for no out of pocket expense (just credit pulls)
Or if you spend that $737.50 on actual stays at Hiltons on relaxing vacations, pay using the surpass and having gold status plus the current 3x Weekend promo plus my way, Amex booking bonus, GG 40% sale, Gold bonus, etc, you will end up with around 50K and have plenty of nice memories of your stays. (plus th current Surpass 50K sign up promo if you dont have it)
As a reference, you can buy directly from Hilton at $.01 per point.
I value at half of that.
You can also apply for a couple credit cards that are fee free and and get the same 100K for no out of pocket expense (just credit pulls)
Or if you spend that $737.50 on actual stays at Hiltons on relaxing vacations, pay using the surpass and having gold status plus the current 3x Weekend promo plus my way, Amex booking bonus, GG 40% sale, Gold bonus, etc, you will end up with around 50K and have plenty of nice memories of your stays. (plus th current Surpass 50K sign up promo if you dont have it)