More financial products are now offering cashback on rent, but experts warn that the high fees can quickly eat into the rewards. For example, the fintech Koho Financial recently launched a program that offers 0.25% cashback on rent paid through its online banking account, which also comes with a prepaid credit card and a debit card. Another fintech, Chexy, lets users pay rent with an external credit card and earn cashback rewards. These services send your rent via e-transfers or pre-authorized debit to your landlord (Koho charges your account and Chexy charges your credit card then pays the landlord). Sounds appealing, but there’s a catch: the costs may outweigh the benefits. Chexy charges users a 1.75% fee for credit card payments, so you’d need a credit card that offers at least 2% cashback to benefit. Koho’s program has a $19 monthly fee, a $3,000 monthly rent cap, and requires you to buy tenant insurance. So, while cashback on rent is tempting, it’s important to factor in the fees and see if it’s truly worth it for you.