In Travel Hacking, people are always trying to find different ways to gain lots of credit card points. RoomiPay was one of the best ways to do just that but you’ll learn here why this isn’t an option anymore.
RoomiPay Closed Down
In November 2018, the users of RoomiPay got an email explaining the situation.
I’m Alex, COO of Roomi, and am writing to let you know that we’ve gone ahead an canceled your auto-payments to RoomiPay. As a startup we’re constantly evaluating all of our products and have decided to put RoomiPay on pause for now. Thank you all for your continued support and we will let you know if/when we decide to start this up again!
Please feel free to get in touch with me directly with any questions.
There isn’t much reason given on why exactly this happened but people speculate it had something to do with their great promotions where it seemed they weren’t getting the revenue they honestly deserved.
The end of the email says that there might be a chance to start it up again but this was done almost a year ago so it seems like there’s no chance of a revival.
What RoomiPay Did
To travel hacking veterans, paying something as big as rent monthly without getting any credit card points hurts. That’s where something like RoomiPay came in.
The company came out and offered another option to the others we will go through in a little. RoomiPay had some of the best fees with a 2% fixed fee and lots of promotions to lower that from referrals to other ways.
All of these services have some fees put into their structure (they have to make money someway) but RP had one of the lowest at the point of their shut down.
Other Options for You
You might be asking that if you are paying fees on these services, why would it be worth it? The reason is that there are some cards that give you better value than the extra bit you are paying for the rent to the service.
For example, you might pay a 2.5% fee on a $1000 rent which is $25 extra but they get back more than $25 worth of points thanks to multipliers and extra value on redemptions.
This is a little bit of an extra level tactic for travel hackers but simple math when you really think about it. Spend $25 to get $50 back or any other numbers could work.
Now for options, there really is only one main option out there as of now.
It’s called Plastiq and it’s kind of the leader in this space. Plastiq comes with a 2.5% fee added on to it.
If you do have a way to get better value than what the 2.5% would cost you then Plastiq would be a great option.
To Wrap It Up
RoomiPay was a great way to rack up some points on things like rent and other things that couldn't be bought with credit cards.
But seems like these things couldn't last for the company so they had to shut down.
If you're still looking for a way to rack up points, try Plastiq as it seems they're not going anywhere for now.
If you’re interested in learning everything about travel hacking, I have a post on the Ultimate Guide to Travel Hacking for 2019 that will surely help you out so be sure to check that out.