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The Clark Howard Podcast

07.15.21 Save for a home by paying rent a new way / The Beginning of The END of Legalized Loan Sharking.

The Clark Howard Podcast

Clark Howard

Investing, Entrepreneurship, Business

4.64.9K Ratings

🗓️ 15 July 2021

⏱️ 22 minutes

🧾️ Download transcript

Summary

There’s a new way renters can save for a down payment on a home. Clark shares the pros & cons, and how to make this method work best for you. / A law eliminating oversight of predatory lenders has been overturned. Clark explains the ruling, the state-level significance, and the danger of payday loans. Ask Clark topics include: What Is a 403(b) and How Does It Work? / What Is a Virtual Card Number and How Does It Work? - Sign up for a free trial offer with a stored-value card to avoid unwanted subscriptions. / Shrinkflation: Warning: Watch Out for This Retailer Pricing Trick / How to Choose the Best Charities for Your Donations - For small charities, search the name of the organization + “IRS filings” / How to Reach a Real Person at AT&T, Xfinity, Cox and More - How to Find the Best Deal on Cheap Internet Service - Cnet - Elon Musk says Starlink will be available worldwide in August / Should You Take Your Pension in a Lump Sum or Monthly Payments? / Gap insurance: What is it and do you need it? \\ Want more money advice? Sign up for Clark’s free daily newsletter! Free Advice: Clark's Consumer Action Center Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0

It's my pleasure to welcome you to the Clark Power Show, our mission is to serve and empower

0:10.6

you so you make better financial decisions in your life.

0:15.0

In today's episode, I have crazy, weird, potentially great news for you if you're a

0:21.2

runner. There's a new way for you to earn rewards points, maybe even a down payment on a home,

0:31.0

using a credit card to pay your rent. Wait till I explain it to you. Also, I've got some

0:37.3

bad news for some really bad dudes, payday lenders. So, I've got to tell you about something

0:47.3

that when I first heard about it, I figured this has to be a rip off that I'm just missing

0:56.3

the rip off part of or this has to be another fentech that is going to spend its investors

1:02.9

money accidentally helping people out but not themselves. But this one is crazy. If you

1:13.2

are a runner, I want you to check out built rewards dot com b-i-l-t rewards dot com. This is

1:24.3

goofy. So, let me tell you how this plays. And right now they're rationing the number

1:31.5

of people that can sign up so you go on a wait list. But what they allow you to do is

1:39.0

pay your apartment rent with their credit card at no fee. I mean, think how many people

1:47.8

have tried to pay apartment rent with a credit card and they say, yeah, you can do that.

1:51.5

It'll be 3% extra or 5% extra or whatever. And they're very, very few apartment complexes

2:00.6

that let you pay rent by credit card. But this one is excuse the pun built from the ground

2:08.6

up to allow you to have a reward credit card geared to paying rent. And they give you two

2:19.1

x points, double points when you pay your rent on that credit card. It's not a good deal

2:28.1

on other stuff. It's just one x points. So obviously using it for rent is great. And

2:36.0

if you or early, they start you off at 3 x points initially and then you go to 2 x points.

2:47.2

So the points can then be used for down payment money or house you're buying eventually

2:57.1

or for whatever else you want to do. Also helps you with your credit standing. So what

...

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