Tag Archives: bonus

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Credit Cards Can Be Used to Pay Taxes?

TRUE! The IRS allows you to pay taxes with a credit card but you must use a 3rd party payment processor.  The government does NOT accept credit card payments directly.

These payment processors charge a percent of your total tax bill.


The least expensive is Pay 1040, which charges 1.87% for credit card payments, (and a flat fee of $2.59 for debit card payments).

A $5,000 tax bill would total:

  • $5,093.50 with a credit card ($5,000 x 1.87% = $93.50)
  • $5,002.59 with a debit card ($5,000 + $2.59 flat fee)

Note:  You will NOT be charged cash advance fees when you pay with a credit card.  The FAQ’s for all payment processors say:

Your tax payment will be treated like a retail purchase and not a cash advance. 

Some other companies:

 

Credit Card Joint thinks this is a great idea if 2 things are kept in mind.

1) You have a credit card that gets you more then 1.87%. Namely a Citi Double Cash, Fidelity 2% credit card among others.

2) You have no other way of Meeting the Spending Threshold.

Meeting Minimum Spending Requirements

We spoke about that in a Three part series HERE, HERE, and HERE. Paying taxes with a credit card can make sense if you have a minimum spending requirement to meet on a card within a certain time period. Although you may be losing out some money on the 1.87% charge, in the long term you will gain the 50k or 35k in bonus points worth more then the charge.

And don’t forget to follow us on Twitter to be entered into our $50 Giveaway!

In Summary

Paying Taxes with a credit card can be a great option for some.

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30K SPG American Express Card Is Back Again This Summer!

Just this passed Thursday the Annual Fee on my SPG card has came up. I called in to get the fee waived, and successfully got a $45 credit. The $20 is well worth the cost of the card given all the benefits the card encompasses. Additionally, the card gets the Amex sync offers, Small Business Saturday, and other offers.  I will be keeping my Starwood Preferred Guest Card open.

But, when the fee hit it got me thinking, hey it is this time of the year again. After all only 12 months ago the Starwood Card offered the extended bonus of 30,000 points instead of 25k. And then Today I get a memo that the American Express June promo is back! The sign up bonus on the SPG card is now 30,000 points after spending $5000!

Advertising Disclosure: We may receive commission for some links in this post.

30K – Starwood Prefered Guest

Personal link and Business link

What are the card benefits?

  • Starpoints® bonus: earn up to 35,000 bonus points: 10,000 after your first purchase and another 20,000 after you spend $5,000 within the first 6 months of Card membership
  • That’s enough for a weekend getaway to a Category 4 Hotel.
  • Free Hotel Nights: redeem Starpoints at over 1,100 hotels in nearly 100 countries worldwide – with no blackout dates. Some hotels may have mandatory service and resort charges.
  • Free Flights: redeem Starpoints on over 350 airlines with SPG Flights – with no blackout dates
  • No limits on the number of Starpoints you can earn
  • $0 introductory annual fee for the first year, then $65
  • Terms and Restrictions apply.

What other perks does this card have?

  • Earn Starwood Gold status after spending $30,000 on the card annually.
  • American Express special offers (Sync and save, twitter, Small business Saturday etc.)
  • Purchase Protection
  • Extended Warranty
  • Receive credit for 5 nights and 2 stays towards SPG elite status each year

American Express has limited the sign up bonuses to once in a life time. Therefore, if you had this card in the past, you will not be able to get it again with the full bonus. Rumor has it that you can get a smaller bonus, but it is not worth the credit pull.

American Express has brought back the 30K offer of the SPG card this summer. This card is only available until the end on June, so hurry if you want to get it. If you had the card in the past, don’t bother applying.

We will not be applying for this card, as we already have both in our wallet. If you do not have the SPG card and you are planning on applying for one, this is the biggest bonus we have seen on this card in quite a few years. Now is as good time to take advantage of it. This card will decrease to the 25k at the end of June.

Other limited time offers

100k - Citi AAdvantage  Executive card

  • 100k miles after spending $10,000 in 90 days
  • $200 Statement credit after first purchase
  • $450 annual fee
  • First Checked Bag Free
  • Admirals Club® Membership Privileges
  • Enhanced Airport Experience
  • 25% Savings on Eligible In-Flight Purchases
  • Elite Qualifying Miles
  • Earn Double AAdvantage® Miles on Eligible American Airlines Purchases
  • No Mileage Cap
  • No Foreign Transaction Fees on Purchases
  • Expert Concierge Service

Read our review here

chase-freedom-credit-card

Chase Freedom Card $200 AKA 20,000 Increased Signup Bonus

Chase Freedom review

In Summary:

The Starwood American Express card is back with it’s 30k offer, it is only good for those that never had the SPG credit card before.

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FBA-Overview._V381560285_

Get Paid To Meet A Spending Threshold!

Spending threshold plays a huge role in credit card signups. If you don’t meet the threshold, you will not get any of the bonus points. Credit cards like the The US Airways® Premier World MasterCard® or the Williams-Sonoma Visa® Signature Card have no spending requirements, so some people stick with those. Other people like the The Frontier Airlines World MasterCard® or the The Hawaiian Airlines® World Elite MasterCard®, as they have relatively small spending threshold.

So you signed up for the Chase Ink Plus Business Card and the Premier Miles & More® World MasterCard® and now you need to spend $10k. You start to freak out, but that’s not going to help the situation. You are maxed out in your Amazon Payments account, and you already read our Meeting A Spending Threshold post. You about to throw in the towel and then you saw this post.

Get Paid To Meet A Spending Threshold!

Okay, we got your attention but how is it done?

Make the purchase

eBay has on it’s daily deal today  a 16gb iPhone 5s for only $599.99. Now if you would take a quick look over to Amazon.com you will see the same phone selling for ~$680 – $720. Before you get excited let’s make sure you have every detail in place to maximize this “Spending Threshold”.

How to make the purchase

Do not login to Bay to make the purchase, that would be foolish. As we always mention, there is cash back portals that give you bonuses on your purchases. Topcashback.com is offering .5% back on all eBay purchases. (If you signup via our link we will make $10.) .5% off of a $600 purchase is a $3 bonus. Make sure that your eBay account is registered for eBay Bucks. eBay Bucks gives you 2% back after the quarter. 2% on a $600 item is another $12. We are holding by $15 profit.

Once the item arrives

There is a few ways how to sell your iPhone

  1. Relist it on eBay as an auction. This is generally not the best idea.
  2. Relist it on eBay as a Buy it Now. This is a good idea, but you will not get the best value for your time.
  3. Sell it locally on craigslist. YMMV (your mileage may vary)
  4. Sell it on Amazon

Sell it on Amazon

There are 2 ways to sell on Amazon

Seller  Fulfilled

Amazon Fulfilled

What is the difference?

Seller  Fulfilled

The same way you can sell something on eBay and need to ship it out, you can sell on Amazon. Once the product sells, you will need to ship it to the buyer. Amazon will email you that the item needs to be shipped. You can bring the item to the post office and ship it there, or you can print shipping from Amazon directly. Shipping weight is 10 oz.

Amazon Fulfilled

Also termed as FBA – Fulfilled By Amazon.  This method is the best bang for your buck. There is a few reasons why FBA sells better then any other online sale.

  1. It is covered by Amazon’s Prime Shipping service
  2. Buyers know their item will be shipped out fast
  3. Items can be shipped worldwide

Buying a Daily Deal on eBay to flip on Amazon is extremely common. It is a great way to meet a spending threshold too! Selling with Amazon’s FBA is the quickest and best valued way to sell online.

How to sell FBA

Create a seller account in Amazon’s Sellers Central

Create a listing by clicking on Inventory –> Add a product

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Add the product you are selling. first type in the product name. Then hit “Search“. When your product shows up hit “Sell Yours

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You will be redirected to a product summary page. Choose the correct information.

Condition: New

Your Price: $700 (or whatever you choose)

Quantity: 1

Shipping Method: I want to ship this item to Amazon

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Select: “Save and Finish

You will be redirected to the FBA panel.
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Keep everything the way it is. “Create New Shipping Plan” and “Individual Products“. Press Continue to Shipping Plan.

Enter the amount of units you will be sending, and press “Continue“.
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Continue to Prepare Products, and then to Label Products. Print out a label for the product or Select “Amazon Labels” it only costs $.20

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Approve shipment  then click Work On Shipment.

Next you will need to put in the Shipping weight of 1 lb.

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Then “Calculate” and it will determine the shipping cost. It usually is $3.24, hit   “Accept Shipping Charge”.  All you need to do is “Print Box Labels” and “Complete Shipment”.

Bring the box to your local UPS, drop it in a UPS bin or give it to a UPS driver. The iPhone will reach Amazon’s warehouse in a few days and be put into inventory. It will take a few days to sell. when it does the money goes into your Amazon Seller account. You are all set!

Besides for being $600 closer to your spending threshold, and selling the phone for $100 more. (Keep in mind there is $60 Amazon fees.) you also made $15 in cash back plus 600 miles on your credit card.

I know this sounds like it will take 4 hours, and it is not worth your time, but hey I can do it in 10 minutes. Where do you get paid $50 in 10 minutes?

In Summary:

Get Paid To Meet A Spending Threshold b y buying on an eBay Daily Deal and selling it on Amazon!

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top5

Top 5 Credit Card Offers Offered Today

There were a few credit card offers lately that made headlines. We wanted to give you a quick recap of all the offers in case you missed one. Of course if you subscribe to our emails, or follow us on Twitter you wouldn’t miss a deal, but hey that’s your loss.

Advertising Disclosure: We may receive an affiliate commission for some of the links in this post.

Here are the top 5

The seemingly best deal, but in reality may not be is the Citi Executive AAdvantage 100kThis card is currently our featured card, as it has the biggest signup offer. To read a full review of this card, please read this post. In a short summary, this card gives 100k for signing up and spending $10,000 in 3 months. There is a $450 annual fee that is not waived. If you cancel the card within 30 days of the annual fee hitting, the fee will be waived. There is a $200 statement credit after the first purchase.

The next card, and we think this card is a better offer is the 60,000 Chase Ink Bold and PlusThese cards normally have a 50k signup bonus. Read our full review over here. These cards have the first year free, and give 5X in office supplies stores.

The Citi AA card doesn’t allow a 2BM, where as the Chase Ink cards do allow. Doing a 2BM with the 2 Chase Ink cards, Bold and Plus is a better credit card offer then the 100k AA Advantage. The bonus points will be 120,000 without an annual fee. A 2BM with the Ink cards is the best offer today.

Barclay has increased the signup offer of the Premier Miles & More® World MasterCard®. The old offer was for 20k and additional 10k for a balance transfer. Today the signup bonus is increased to 20k for your first spend, and an additional 30k for spending $5000 in 90 days that is a total of 50,000 bonus points. Read the full review here.

Another Barclay card that the signup offer was increased was the US Airways® Premier World MasterCard® has raised it’s sign up bonus from 30,000 points to 40,000 points after the first purchase. There is a different offer out there of 30k, with a 10k bonus after the first year. There is a dispute from the bloggers which card is better. To read our full review click here.

The last new card offer is from a bank we never seen cards from before, Wells Fargo. They released the Wells Fargo Propel World AMEXThe signup bonus is 40,000 points after $3000 is spent. The annual fee is $175 and it is waived for the first year. Read our full review here.

Articles That May Interest You

3BM and App-O-Rama, How To Do It Properly

Chase Ultimate Reward Program: Maximizing Your Points Earnings

Top Ten

150,000 American Express Platinum Signup: Get A Targeted Offer!

In Summary:

There are quite a few good credit card options out there. Today we complied a list of the top credit card offers.

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2,500 Bonus UR Points Chase Freedom and Sapphire Credit Cards: Adding An Authorized User

Chase unveils an additional bonuses for the Sapphire and Freedom credit card signups. You can now get an extra 2,500 Ultimate Rewards points for adding an authorized user when you sign-up for the Chase Freedom and Chase Sapphire credit cards.  The authorized user has to make a purchase within 3 months for the bonus 2,500 points. We find this similar to the Chase Sapphire Preferred card that offer 5,000 bonus points for an authorized user.

The links that we provide we receive a referral bonus from. However they do not have this benefit of the 2,500 for adding an AU. You can still use our links and SM Chase to match the offer. If you want to use a direct link you can use this link to guarantee the extra bonus.

This new offer is only valid on new credit card signups. However we would recommend all people who signed up for one of these cards in the last 90 days to  try to SM (secure message) Chase to see if they can match them to this offer.

The reason why we don’t write about the Chase Sapphire card is simple. If you are applying for the Sapphire card, you will be better off applying for the Chase Sapphire Preferred. The Sapphire Preferred gives 40,000 (plus 5,000 for an AU). Although it has an annual fee, you can downgrade after the first year to a sapphire (non preferred).

Read why you should get a Chase Freedom card here

Learn more about the responsibilities of a joint user on this post.

Stay educated. Follow us with your email or twitter account. More options are coming soon!

In Summary:

Get a bonus 2,500 points on the Chase Freedom and Chase Sapphire by adding an authorized user.

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