Pay Your Taxes With a Reward Credit Card?

Written by admin - One Comment

If you’re anything like me, you’re always on the lookout for new ways to use your reward credit cards. Well, here’s an idea…

Why not pay your taxes with a credit card?

I know what you’re thinking… There’s always a surcharge associated with using a credit card to pay your taxes. Right? Right. But in the case of the Citi CashReturns MasterCard, you’ll still come out ahead.

Here’s the deal:

Edit: The 5% cash back promo that this deal was based on has since expired… Sorry!

At the same time, OfficialPayments.com will allow you to pay your taxes with a credit card in return for a processing fee of 2.49%. That leaves a spread of 2.51% for you to pocket. And the credit card rewards are totally tax free.

Consider this:

If you owe $10,000 in taxes and pay them with this card, you’ll pocket $251 for do nothing more than putting that payment on your credit card instead of sending a check.

Published on January 30th, 2008 - One Comment
Filed under: Credit Card Tips, Reward Cards
email this article email this article - add to tip'd - digg this - stumble it - save to del.icio.us

Related articles...

» Credit Card Fees for Tax Payments are Deductible
» Carnivals - Week of 04/07/08
» Carnivals - Week of 05/12/08
» Carnivals - Week of 03/31/08
» Carnivals - Week of 05/05/08
» Get a Discount on Quicken 2009
» The Best of March 2008
» Tax Rebate + Reward Credit Card Followup

If you found this article useful, please sign up to receive free e-mail updates:

You will receive only the daily updates, and can unsubscribe at anytime.

Comments (scroll down to add your own):

  1. Nice idea to lessen the amount you pay in taxes or least get some money back. Timing is the key issue with this card. Other good uses are tuition, holiday purchases, etc.

    Comment by PlasticRewards — Jan 31st 2008 @ 6:42 pm

Leave a comment

Subscribe without commenting

Get free updates...

Articles via e-mail:

Search this site...

Sponsors...



Credit card resources...

Top credit card offers...

    Discover Open Card

    - 0% balance transfer
    - 0% on purchases
    - No annual fee

    Citi Platinum Select Card

    - 0% balance transfer
    - 0% on purchases
    - No annual fee

Recent articles...

Recent comments...

  • Steph: I tried to use my DEBIT card (which has a VISA logo on it) at a store...
  • marge11: check-out the latest blogs at credit.about.com…(scroll down to...
  • leonardom: A deal is a deal, except when the big shots decide they ended up...
  • Chris: I’ve been quietly reading most of this thread all the way since...
  • John Fuller: “I’m mad as hell and I’m not going to take it...
  • karin tatela: Welcome to round 3 of the people vs. chase. Katie is on the...
  • Paul C: We had a card with chase @ 4% interest and were on a 7 year plan to...
  • James: Not sure if the 3 months of free identity theft protection from Citi...

Most talked about...

Disclaimer...

    The terms of third-party offers referenced on this website are subject to change without notice. While we strive to maintain timely and accurate information, offer details may be out of date. Visitors should thus verify the terms of any such offers prior to participating in them. Please see our terms of service for additional details.