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| trixiezzz |
 Posted: Wed Mar 23, 2005 2:49 pm Post subject: Pay your taxes with a credit card? |
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Investing Manager
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| I just received an email from Discover Card encouraging people to pay their taxes with their credit card. Is this really possible? Couldn't you then pay with a Rewards Card and basically save 1% on federal taxes? Anyone have experience with this? |
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| thrilla |
| Posted: Wed Mar 23, 2005 3:12 pm Post subject: |
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Investing Sr. Associate
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| Even without the rebates and rewards from a credit card, you can basically make interest revenue with the cash you basically would have sent to the IRS. Just remember to set aside the money specifically for paying the credit card off or else you could forget. If you have credit card debt (and paying interest) just forget about it...it is just adding to the debt and the interest isn't worth it. |
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| Dave Rathbun |
| Posted: Sun Apr 10, 2005 3:42 pm Post subject: |
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CFO
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Read the fine print on the tax return... there is often a premium charged for paying via credit card. That premium is going to more than offset the 1% bonus from Discover.  |
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