Comments on: Pay Your Taxes with a Credit Card?

By: Lisa Irby

Lisa Irby — Mon, 28 Jul 2008 19:44:19 +0000

I use a credit card for big purchases like adding funds to my Yahoo Search Marketing advertising and Google AdWords accounts. I do it just for the mileage awards from American Airlines. However, I always pay it off in full the next month to avoid the interest. That's the best way to get the maximum benefits. Nothing like getting miles for buying something you were going to buy anyway and paying it off right away to avoid any interest. Credit card companies probably hate me. LOL

By: Reid @ MooneyQuest.c

Reid @ MooneyQuest.c — Wed, 23 Apr 2008 10:01:39 +0000

Of course they will, when you bank wire money there is no charge to them. When you use a credit card, they lose around 2-3% depending on the credit card company.

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By: Pay Taxes & Earn Points with your American Express Business Card

Pay Taxes & Earn Points with your American Express Business Card — Mon, 21 Apr 2008 10:39:46 +0000

[...] Zac Johnson covers some of the pros and cons of paying your taxes with a credit card. No Comments, Comment or [...]

By: Daltonsbriefs

Daltonsbriefs — Mon, 21 Apr 2008 08:02:55 +0000

It can't be a great idea to use a debt instrument to futher extend the time to actually pay the taxes due. I believe the best policy is to pay the tax when the income is earned and remove the temptation to use that money as a line of credit.

By: Solar Lights

Solar Lights — Sun, 20 Apr 2008 16:14:20 +0000

For the most part though, it can be really dangerous to pay off your taxes with a credit card. The interest, the fact that many people struggle to pay off normal CC debt just don't make the rewards worth it. Plus your bank/cc company may have hidden fees for paying your taxes with a CC.

Not worth it.

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Sun, 20 Apr 2008 15:55:11 +0000

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By: Brandon Adcock

Brandon Adcock — Sun, 20 Apr 2008 10:47:10 +0000

Or you could not have taxes taken out of your paycheck during the year, invest it in something that earns over 3% a year, then pay it all at the end of the year with a credit card. Then you get the points and make money on the difference between the return and the convenience fee.

By: Baccarat Forums

Baccarat Forums — Sun, 20 Apr 2008 00:32:17 +0000

Using credit cards for so many things freaks me out a bit.

Those interest charges can really get you.

By: Blog

Blog — Sun, 20 Apr 2008 00:07:16 +0000

lol

Why should we pay taxes. That's our hard earned money