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That only makes sense if they don't charge extra for paying with CC. Most places I've seen would charge you 3-4% fee for CC payment, which makes the whole thing
by smsm42 10mo ago
That only makes sense if they don't charge extra for paying with CC. Most places I've seen would charge you 3-4% fee for CC payment, which makes the whole thing pointless - except if you need a big spend e.g. for a sign-up bonus.
- dmoy 10mo agoIf it's federal income tax, then the fees are <2%. State taxes, and county property taxes vary a lot fee-wise.
- itake 10mo agoyeah, federal taxes and I live in WA :)
- kshacker 9mo agoI paid my son's tuition yesterday at a 2.90% charge. Since the cashback of 2.625 is also on the charge, my net cost for about 10.6K tuition was about $15. I keep the money invested in SGOV (state tax exempt), for a month, I make that $15 anyways, and it helps me follow lessons from corporations - pay only at the latest due date without any charges. So in this case there was no saving, just a deferment of payment, but if the charge was 2.5%, 2.2% or 1.9% (like I did for something else), you absolutely saved some money besides deferment. I am not starving for pennies, but using the card to get 2.62% back has become a habit and until recently the highest I had paid was 2.75%, the 2.9% was just yesterday for the first time and rather than think more about the impact, I just paid it.