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Pay your Taxes with Visa / Mastercard

Every year you read about the offers to pay your taxes with a credit card such as a Visa, Mastercard or American Express. Make sure you know the fine print, most third party credit card processors charge a 2.49% service fee, so you would need at least a 2.5% cash rewards card to make it worth it.

Lets say you charge $2,500, $5,000 or $10,000 on a card. Your service fees would be $62.25, $124.50 and $249 respectively.

IThe best credit cards for paying your taxes with considering this scenario (and paying the balance offBlue Cash® from American Express immediately after) is the Blue Cash from American Express .

They offer up to 5% cash back, so you would net a 2.51% profit on the charge.

 

Starwood Preferred Guest® Credit CardAnother popular credit card for paying your taxes is the Starwood Preferred Guest® Credit Card. The first purchase gives you 10,000 bonus points which is good for a 3 night stay at any Starwood Preferred hotels. Since these hotels cost much more than $100 (sometimes $200) a night and up, the first purchase has paid for the surcharge and then some.

 

For more cash back credit cards and rewards for tax credit cards, please see all cash back cards, and cash back rewards cards