I personally don't recommend tenants or landlords doing this.

If tenant need to pay monthly rental with credit card and stretch the 2+1 deposits. This means the tenants need 45 days to pay the rental. I would be wary whether the tenant then would be responsible to take care of my property.

Landlord should focus on selecting a better tenant profile or adding value to their property.

Speedrent, if you are willing to insure my property against tenant's damages up to the property's construction value, then I might consider your scheme. The deposit is a security deposit anyways.